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

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) CEO John Farahi sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $103.77, for a total value of $518,850.00. Following the transaction, the chief executive officer directly owned 554,110 shares in the company, valued at $57,499,994.70. The trade was a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 Stock Down 1.2%

Shares of NASDAQ:MCRI opened at $92.97 on Friday. Monarch Casino & Resort, Inc. has a 12-month low of $69.99 and a 12-month high of $113.88. The company’s 50 day moving average price is $96.05 and its two-hundred day moving average price is $97.62. The firm has a market cap of $1.70 billion, a PE ratio of 16.78 and a beta of 1.36.

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

Monarch Casino & Resort Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a $0.30 dividend. The ex-dividend date was Monday, December 1st. This represents a $1.20 annualized dividend and a yield of 1.3%. Monarch Casino & Resort’s dividend payout ratio (DPR) is currently 21.66%.

Hedge Funds Weigh In On Monarch Casino & Resort

A number of hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its position in shares of Monarch Casino & Resort by 36.0% during the first quarter. AQR Capital Management LLC now owns 57,731 shares of the company’s stock valued at $4,489,000 after acquiring an additional 15,295 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Monarch Casino & Resort by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,618 shares of the company’s stock worth $592,000 after buying an additional 316 shares during the period. Jane Street Group LLC grew its stake in Monarch Casino & Resort by 12.2% in the 1st quarter. Jane Street Group LLC now owns 156,346 shares of the company’s stock valued at $12,156,000 after buying an additional 17,027 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Monarch Casino & Resort by 1.0% in the first quarter. Acadian Asset Management LLC now owns 44,537 shares of the company’s stock worth $3,459,000 after acquiring an additional 453 shares during the period. Finally, Strs Ohio bought a new position in Monarch Casino & Resort in the 1st quarter worth about $606,000. Institutional investors and hedge funds own 62.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Jefferies Financial Group restated a “hold” rating and issued a $112.00 price objective on shares of Monarch Casino & Resort in a report on Wednesday, December 24th. Wells Fargo & Company upped their price target on Monarch Casino & Resort from $89.00 to $91.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 22nd. Stifel Nicolaus raised their price objective on Monarch Casino & Resort from $92.00 to $97.00 and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. Zacks Research lowered Monarch Casino & Resort from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Finally, Wall Street Zen cut Monarch Casino & Resort from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Monarch Casino & Resort presently has an average rating of “Hold” and a consensus price target of $99.40.

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.