Monarch Casino & Resort (NASDAQ:MCRI) CEO Sells $97,430.00 in Stock

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) CEO John Farahi sold 1,000 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $97.43, for a total transaction of $97,430.00. Following the completion of the transaction, the chief executive officer directly owned 538,304 shares in the company, valued at $52,446,958.72. This trade represents a 0.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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.

Monarch Casino & Resort Stock Performance

MCRI opened at $93.98 on Friday. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 17.31 and a beta of 1.29. The company has a fifty day moving average of $95.39 and a 200 day moving average of $96.47. Monarch Casino & Resort, Inc. has a fifty-two week low of $69.99 and a fifty-two week high of $113.88.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings data on Wednesday, February 4th. The company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.12). The company had revenue of $140.00 million for the quarter, compared to the consensus estimate of $139.39 million. Monarch Casino & Resort had a net margin of 18.60% and a return on equity of 18.68%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the company earned $0.22 EPS. On average, equities research analysts forecast that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current year.

Monarch Casino & Resort Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, March 2nd. Monarch Casino & Resort’s payout ratio is currently 22.10%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Zacks Research upgraded Monarch Casino & Resort from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th. Jefferies Financial Group reaffirmed a “hold” rating and set a $112.00 price objective on shares of Monarch Casino & Resort in a report on Wednesday, December 24th. Wells Fargo & Company increased their target price on Monarch Casino & Resort from $92.00 to $93.00 and gave the company an “equal weight” rating in a research report on Thursday, February 5th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Monarch Casino & Resort in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Monarch Casino & Resort presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.80.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Monarch Casino & Resort by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 1,030,396 shares of the company’s stock worth $98,609,000 after acquiring an additional 5,667 shares in the last quarter. American Century Companies Inc. raised its position in Monarch Casino & Resort by 4.3% during the third quarter. American Century Companies Inc. now owns 491,400 shares of the company’s stock valued at $52,010,000 after purchasing an additional 20,328 shares during the period. Geode Capital Management LLC raised its position in Monarch Casino & Resort by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 396,844 shares of the company’s stock valued at $37,983,000 after purchasing an additional 10,890 shares during the period. Tributary Capital Management LLC lifted its stake in shares of Monarch Casino & Resort by 57.8% in the 3rd 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 last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Monarch Casino & Resort by 38.2% in the 4th quarter. Invesco Ltd. now owns 194,371 shares of the company’s stock worth $18,601,000 after purchasing an additional 53,745 shares during the period. Institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Company Profile

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.