John Farahi Sells 1,000 Shares of Monarch Casino & Resort (NASDAQ:MCRI) Stock

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) CEO John Farahi sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $97.43, for a total value of $97,430.00. Following the transaction, the chief executive officer owned 538,304 shares of the company’s stock, valued at $52,446,958.72. This represents a 0.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, March 16th, John Farahi sold 2,000 shares of Monarch Casino & Resort stock. The stock was sold at an average price of $99.00, for a total value of $198,000.00.

Monarch Casino & Resort Stock Performance

NASDAQ MCRI opened at $97.22 on Friday. The company has a market capitalization of $1.74 billion, a P/E ratio of 17.90 and a beta of 1.29. Monarch Casino & Resort, Inc. has a one year low of $69.99 and a one year high of $113.88. The stock has a 50 day moving average price of $95.32 and a 200-day moving average price of $96.53.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.12). The business had revenue of $140.00 million during the quarter, compared to the consensus estimate of $139.39 million. Monarch Casino & Resort had a return on equity of 18.68% and a net margin of 18.60%.The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.22 EPS. As a group, equities analysts predict that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current fiscal year.

Monarch Casino & Resort Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were issued a $0.30 dividend. The ex-dividend date was Monday, March 2nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.2%. Monarch Casino & Resort’s payout ratio is 22.10%.

Wall Street Analyst Weigh In

MCRI has been the subject of a number of analyst reports. Zacks Research raised shares of Monarch Casino & Resort from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Monarch Casino & Resort in a research note on Monday, December 29th. Jefferies Financial Group restated a “hold” rating and set a $112.00 price objective on shares of Monarch Casino & Resort in a research report on Wednesday, December 24th. Finally, Wells Fargo & Company raised their price objective on Monarch Casino & Resort from $92.00 to $93.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $99.80.

Institutional Trading of Monarch Casino & Resort

Institutional investors and hedge funds have recently made changes to their positions in the business. Tributary Capital Management LLC boosted its stake in shares of 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 purchasing an additional 142,621 shares during the period. Qube Research & Technologies Ltd increased its stake in Monarch Casino & Resort by 77.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 188,498 shares of the company’s stock worth $19,951,000 after buying an additional 82,035 shares during the period. Hillsdale Investment Management Inc. purchased a new position in Monarch Casino & Resort in the 4th quarter worth about $7,244,000. Arrowstreet Capital Limited Partnership lifted its holdings in Monarch Casino & Resort by 64.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 178,976 shares of the company’s stock valued at $18,943,000 after buying an additional 70,185 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Monarch Casino & Resort by 20.0% during the 2nd quarter. Geode Capital Management LLC now owns 391,868 shares of the company’s stock valued at $33,877,000 after buying an additional 65,272 shares in the last quarter. 62.37% of the stock is currently owned by institutional investors.

About Monarch Casino & Resort

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.