John Farahi Sells 5,000 Shares of Monarch Casino & Resort (NASDAQ:MCRI) Stock

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) CEO John Farahi sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $103.77, for a total transaction of $518,850.00. Following the completion of the transaction, the chief executive officer directly owned 554,110 shares in the company, valued at $57,499,994.70. This represents a 0.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

John Farahi also recently made the following trade(s):

• On Wednesday, December 17th, John Farahi sold 1,000 shares of Monarch Casino & Resort stock. The shares were sold at an average price of $100.63, for a total transaction of $100,630.00.

Monarch Casino & Resort Price Performance

Shares of MCRI stock opened at $92.97 on Friday. The company has a market capitalization of $1.70 billion, a P/E ratio of 16.78 and a beta of 1.36. The company’s 50-day simple moving average is $96.05 and its two-hundred day simple moving average is $97.70. Monarch Casino & Resort, Inc. has a one year low of $69.99 and a one year high of $113.88.

Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.06. Monarch Casino & Resort had a net margin of 19.26% and a return on equity of 19.33%. The firm had revenue of $142.81 million during the quarter, compared to the consensus estimate of $145.54 million. On average, research analysts expect that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current fiscal year.

Monarch Casino & Resort Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.3%. Monarch Casino & Resort’s dividend payout ratio is presently 21.66%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Tributary Capital Management LLC lifted its position in Monarch Casino & Resort by 57.8% during the third quarter. Tributary Capital Management LLC now owns 389,306 shares of the company’s stock valued at $41,204,000 after acquiring an additional 142,621 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of Monarch Casino & Resort by 77.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 188,498 shares of the company’s stock valued at $19,951,000 after purchasing an additional 82,035 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Monarch Casino & Resort by 64.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 178,976 shares of the company’s stock worth $18,943,000 after purchasing an additional 70,185 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Monarch Casino & Resort by 20.0% in the 2nd quarter. Geode Capital Management LLC now owns 391,868 shares of the company’s stock worth $33,877,000 after purchasing an additional 65,272 shares in the last quarter. Finally, Clark Capital Management Group Inc. purchased a new position in Monarch Casino & Resort during the 3rd quarter worth $6,192,000. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Analysts Set New Price Targets

MCRI has been the subject of a number of research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Monarch Casino & Resort in a research note on Monday, December 29th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $112.00 price target on shares of Monarch Casino & Resort in a research report on Wednesday, December 24th. Wells Fargo & Company increased their price objective on shares of Monarch Casino & Resort from $89.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 22nd. Wall Street Zen lowered shares of Monarch Casino & Resort from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Stifel Nicolaus upped their target price on Monarch Casino & Resort from $92.00 to $97.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Monarch Casino & Resort currently has a consensus rating of “Hold” and an average target price of $99.40.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc is a publicly traded owner and operator of an integrated casino resort in Reno, Nevada. The company’s flagship property, the Atlantis Casino Resort Spa, features a full-service casino floor with table games, slot machines, and sports betting, complemented by a diverse portfolio of amenities. Guests can choose from over 800 rooms and suites, dine at multiple on-site restaurants and bars, unwind at the full-service spa and salon, or enjoy live entertainment in the property’s showroom.

Monarch’s revenue streams are diversified across gaming operations, hotel accommodations, food and beverage services, and convention and meeting facilities.