Monarch Casino & Resort, Inc. (NASDAQ:MCRI) CEO John Farahi Sells 2,000 Shares

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) CEO John Farahi sold 2,000 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $68.00, for a total value of $136,000.00. Following the sale, the chief executive officer now owns 525,310 shares of the company’s stock, valued at $35,721,080. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Monarch Casino & Resort Trading Up 0.0 %

Monarch Casino & Resort stock opened at $68.13 on Friday. The company has a market capitalization of $1.28 billion, a PE ratio of 16.11 and a beta of 1.70. Monarch Casino & Resort, Inc. has a 12 month low of $56.25 and a 12 month high of $75.40. The stock has a 50-day moving average price of $67.55 and a two-hundred day moving average price of $68.82.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Wednesday, April 17th. The company reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.05). Monarch Casino & Resort had a return on equity of 17.13% and a net margin of 16.40%. The company had revenue of $121.66 million for the quarter, compared to the consensus estimate of $122.13 million. As a group, analysts predict that Monarch Casino & Resort, Inc. will post 4.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Monarch Casino & Resort

Large investors have recently added to or reduced their stakes in the business. Diversified Trust Co acquired a new stake in Monarch Casino & Resort in the first quarter valued at approximately $203,000. ProShare Advisors LLC acquired a new stake in Monarch Casino & Resort in the first quarter valued at approximately $204,000. Fidelity D & D Bancorp Inc. acquired a new stake in Monarch Casino & Resort in the fourth quarter valued at approximately $207,000. Choate Investment Advisors acquired a new stake in Monarch Casino & Resort in the first quarter valued at approximately $225,000. Finally, Windham Capital Management LLC acquired a new stake in Monarch Casino & Resort in the fourth quarter valued at approximately $209,000. Institutional investors and hedge funds own 62.37% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on MCRI shares. StockNews.com upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th. Macquarie upped their price objective on Monarch Casino & Resort from $75.00 to $76.00 and gave the stock a “neutral” rating in a research report on Thursday, April 18th.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. It also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. The company was incorporated in 1993 and is based in Reno, Nevada.