Monarch Casino & Resort (NASDAQ:MCRI) CEO Sells $604,200.00 in Stock

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) CEO John Farahi sold 5,000 shares of Monarch Casino & Resort stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $120.84, for a total transaction of $604,200.00. Following the completion of the sale, the chief executive officer owned 616,556 shares of the company’s stock, valued at $74,504,627.04. This trade represents a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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 shares were sold at an average price of $99.00, for a total transaction of $198,000.00.
• On Tuesday, March 10th, John Farahi sold 1,000 shares of Monarch Casino & Resort stock. The shares were sold at an average price of $97.43, for a total transaction of $97,430.00.

Monarch Casino & Resort Price Performance

NASDAQ MCRI opened at $120.26 on Monday. The stock has a market capitalization of $2.13 billion, a PE ratio of 20.38 and a beta of 1.30. The company has a 50 day moving average price of $108.10 and a two-hundred day moving average price of $100.03. Monarch Casino & Resort, Inc. has a 12-month low of $82.15 and a 12-month high of $122.52.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Tuesday, April 21st. The company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.37. The business had revenue of $136.55 million during the quarter, compared to analysts’ expectations of $128.49 million. Monarch Casino & Resort had a net margin of 19.62% and a return on equity of 19.98%. Monarch Casino & Resort’s revenue was up 8.9% compared to the same quarter last year. As a group, equities analysts anticipate that Monarch Casino & Resort, Inc. will post 7.07 EPS for the current year.

Monarch Casino & Resort Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.0%. The ex-dividend date is Monday, June 1st. Monarch Casino & Resort’s dividend payout ratio (DPR) is 20.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MCRI shares. Wells Fargo & Company raised their price target on Monarch Casino & Resort from $97.00 to $99.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Monarch Casino & Resort in a research report on Wednesday. Wall Street Zen raised Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Saturday, April 25th. Truist Financial lifted their price target on Monarch Casino & Resort from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Finally, Stifel Nicolaus lifted their price target on Monarch Casino & Resort from $97.00 to $102.00 and gave the stock a “hold” rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $109.50.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC bought a new position in Monarch Casino & Resort in the 4th quarter worth approximately $40,000. Osaic Holdings Inc. increased its position in Monarch Casino & Resort by 210.0% in the 2nd quarter. Osaic Holdings Inc. now owns 465 shares of the company’s stock worth $40,000 after buying an additional 315 shares during the period. GAMMA Investing LLC increased its position in Monarch Casino & Resort by 12.1% in the 4th quarter. GAMMA Investing LLC now owns 984 shares of the company’s stock worth $94,000 after buying an additional 106 shares during the period. Parallel Advisors LLC increased its position in Monarch Casino & Resort by 191.3% in the 1st quarter. Parallel Advisors LLC now owns 1,136 shares of the company’s stock worth $109,000 after buying an additional 746 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in Monarch Casino & Resort by 69.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,275 shares of the company’s stock worth $110,000 after buying an additional 524 shares during the period. 62.37% of the stock is 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.