Monarch Casino & Resort, Inc. (NASDAQ:MCRI) President Bob Farahi sold 10,111 shares of Monarch Casino & Resort stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $45.48, for a total value of $459,848.28. Following the completion of the transaction, the president now directly owns 472,405 shares in the company, valued at $21,484,979.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

  • On Friday, November 10th, Bob Farahi sold 2,020 shares of Monarch Casino & Resort stock. The stock was sold at an average price of $45.53, for a total value of $91,970.60.
  • On Wednesday, November 8th, Bob Farahi sold 91 shares of Monarch Casino & Resort stock. The stock was sold at an average price of $46.20, for a total value of $4,204.20.

Shares of Monarch Casino & Resort, Inc. (NASDAQ MCRI) traded up $0.55 during mid-day trading on Tuesday, reaching $45.50. The company’s stock had a trading volume of 63,000 shares, compared to its average volume of 44,751. The company has a market capitalization of $801.01, a P/E ratio of 29.57 and a beta of 1.09. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.08 and a current ratio of 1.17. Monarch Casino & Resort, Inc. has a 1-year low of $23.10 and a 1-year high of $46.51.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings data on Tuesday, October 24th. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The firm had revenue of $63.03 million during the quarter, compared to the consensus estimate of $60.05 million. Monarch Casino & Resort had a return on equity of 11.25% and a net margin of 11.99%. research analysts predict that Monarch Casino & Resort, Inc. will post 1.51 EPS for the current year.

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A number of research firms recently commented on MCRI. Stifel Nicolaus reaffirmed a “hold” rating and issued a $33.00 price objective on shares of Monarch Casino & Resort in a research note on Friday, July 28th. BidaskClub upgraded Monarch Casino & Resort from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Zacks Investment Research downgraded Monarch Casino & Resort from a “buy” rating to a “hold” rating in a report on Saturday, July 29th. UBS AG upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Wednesday, October 25th. Finally, ValuEngine upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $53.25.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MCRI. Principal Financial Group Inc. increased its holdings in shares of Monarch Casino & Resort by 4.1% during the first quarter. Principal Financial Group Inc. now owns 85,910 shares of the company’s stock valued at $2,538,000 after acquiring an additional 3,398 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in shares of Monarch Casino & Resort by 26.2% during the first quarter. TIAA CREF Investment Management LLC now owns 37,873 shares of the company’s stock valued at $1,119,000 after acquiring an additional 7,855 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Monarch Casino & Resort by 0.7% during the first quarter. Legal & General Group Plc now owns 18,412 shares of the company’s stock valued at $544,000 after acquiring an additional 136 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Monarch Casino & Resort by 10.4% during the first quarter. Vanguard Group Inc. now owns 580,692 shares of the company’s stock valued at $17,153,000 after acquiring an additional 54,762 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Monarch Casino & Resort by 6.3% during the first quarter. Geode Capital Management LLC now owns 95,134 shares of the company’s stock valued at $2,810,000 after acquiring an additional 5,677 shares in the last quarter. Hedge funds and other institutional investors own 57.59% of the company’s stock.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc (Monarch), through its subsidiary, owns and operates the Atlantis Casino Resort Spa (the Atlantis), a hotel/casino facility in Reno, Nevada. The Company also owns and operates Monarch Casino Black Hawk. The Company’s segments include Atlantis and Monarch Casino Black Hawk.

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