Insider Selling: Monarch Casino & Resort (NASDAQ:MCRI) CEO Sells 2,000 Shares of Stock

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) CEO John Farahi sold 2,000 shares of Monarch Casino & Resort stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $99.00, for a total value of $198,000.00. Following the transaction, the chief executive officer directly owned 536,304 shares in the company, valued at approximately $53,094,096. The trade was a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

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

Monarch Casino & Resort Stock Up 0.7%

NASDAQ:MCRI traded up $0.70 during trading hours on Wednesday, hitting $99.58. 39,191 shares of the stock traded hands, compared to its average volume of 114,333. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 18.31 and a beta of 1.29. Monarch Casino & Resort, Inc. has a 1 year low of $69.99 and a 1 year high of $113.88. The stock has a 50 day moving average price of $95.06 and a 200 day moving average price of $96.50.

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

Monarch Casino & Resort Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were paid a $0.30 dividend. The ex-dividend date of this dividend 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 dividend payout ratio is 22.10%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MCRI shares. Wells Fargo & Company lifted their target price 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. Jefferies Financial Group restated a “hold” rating and issued a $112.00 price target on shares of Monarch Casino & Resort in a research note on Wednesday, December 24th. Zacks Research upgraded shares of Monarch Casino & Resort from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 6th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Monarch Casino & Resort in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Monarch Casino & Resort currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.80.

Institutional Investors Weigh In On Monarch Casino & Resort

Several large investors have recently made changes to their positions in MCRI. GAMMA Investing LLC boosted its stake in Monarch Casino & Resort by 12.1% during the fourth quarter. GAMMA Investing LLC now owns 984 shares of the company’s stock valued at $94,000 after buying an additional 106 shares during the last quarter. Illinois Municipal Retirement Fund grew its holdings in Monarch Casino & Resort by 2.2% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 6,703 shares of the company’s stock valued at $709,000 after buying an additional 142 shares in the last quarter. Mariner LLC increased its stake in Monarch Casino & Resort by 6.5% in the 3rd quarter. Mariner LLC now owns 2,493 shares of the company’s stock worth $264,000 after acquiring an additional 152 shares during the last quarter. Vident Advisory LLC increased its stake in Monarch Casino & Resort by 3.5% in the 2nd quarter. Vident Advisory LLC now owns 5,566 shares of the company’s stock worth $481,000 after acquiring an additional 186 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Monarch Casino & Resort by 46.4% during the 3rd quarter. Blue Trust Inc. now owns 612 shares of the company’s stock worth $65,000 after acquiring an additional 194 shares in the last quarter. 62.37% of the stock is owned by institutional investors.

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.