Monarch Casino & Resort major shareholder Sells $147,700 in Stock (MCRI)
Monarch Casino & Resort (NASDAQ:MCRI) major shareholder Ben Farahi sold 10,000 shares of Monarch Casino & Resort stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $14.77, for a total value of $147,700.00. Following the sale, the insider now directly owns 1,170,772 shares of the company’s stock, valued at approximately $17,292,302. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Monarch Casino & Resort (NASDAQ:MCRI) traded down 0.84% during mid-day trading on Wednesday, hitting $14.23. 50,934 shares of the company’s stock traded hands. Monarch Casino & Resort has a 52 week low of $14.20 and a 52 week high of $22.12. The stock’s 50-day moving average is $15.48 and its 200-day moving average is $17.32. The company has a market cap of $237.2 million and a price-to-earnings ratio of 14.51.
Monarch Casino & Resort (NASDAQ:MCRI) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by $0.04. Analysts expect that Monarch Casino & Resort will post $0.95 EPS for the current fiscal year.
A number of analysts have recently weighed in on MCRI shares. Analysts at Imperial Capital raised their price target on shares of Monarch Casino & Resort to $17.00 in a research note on Thursday, July 10th. They now have an “outperform” rating on the stock. Separately, analysts at Zacks upgraded shares of Monarch Casino & Resort from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 24th. They now have a $15.40 price target on the stock. Finally, analysts at Zacks downgraded shares of Monarch Casino & Resort from a “neutral” rating to an “underperform” rating in a research note on Thursday, April 24th. They now have a $16.20 price target on the stock.
Monarch Casino & Resort, Inc (NASDAQ:MCRI), through its wholly owned subsidiary, Golden Road Motor Inn, Inc (Golden Road), owns and operates the Atlantis Casino Resort Spa(the Atlantis), a hotel/casino facility in Reno, Nevada.
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