Key Points
- CEO John Farahi sold 5,000 shares on August 26 at an average price of $103.77 for $518,850, trimming his position by 0.89% to 554,110 shares (valued at about $57.5M); he also sold 1,000 shares on December 17 at $100.63.
- Monarch (NASDAQ: MCRI) has a market cap of $1.70B and a P/E of 16.78, posted Q earnings of $1.69 vs. $1.63 consensus while revenue of $142.8M missed estimates, and the company pays a quarterly dividend of $0.30 (annualized $1.20, ~1.3% yield).
Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Get Free Report) CEO John Farahi sold 1,000 shares of the firm's stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $100.63, for a total value of $100,630.00. Following the completion of the sale, the chief executive officer owned 553,110 shares in the company, valued at approximately $55,659,459.30. This represents a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Monarch Casino & Resort Price Performance
Shares of NASDAQ MCRI opened at $92.97 on Friday. The business has a 50-day moving average of $96.05 and a two-hundred day moving average of $97.62. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 16.78 and a beta of 1.36. Monarch Casino & Resort, Inc. has a 1 year low of $69.99 and a 1 year high of $113.88.
Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last issued its earnings results on Tuesday, October 21st. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.06. The business had revenue of $142.81 million for the quarter, compared to analyst estimates of $145.54 million. Monarch Casino & Resort had a return on equity of 19.33% and a net margin of 19.26%. As a group, equities research analysts expect that Monarch Casino & Resort, Inc. will post 5.13 earnings per share for the current year.
Monarch Casino & Resort Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a dividend of $0.30 per share. The ex-dividend date was Monday, December 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.3%. Monarch Casino & Resort's dividend payout ratio (DPR) is 21.66%.
Hedge Funds Weigh In On Monarch Casino & Resort
Hedge funds and other institutional investors have recently modified their holdings of the stock. Tributary Capital Management LLC grew its holdings in shares of Monarch Casino & Resort by 57.8% during the third quarter. Tributary Capital Management LLC now owns 389,306 shares of the company's stock valued at $41,204,000 after buying an additional 142,621 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in Monarch Casino & Resort by 77.1% during the third quarter. Qube Research & Technologies Ltd now owns 188,498 shares of the company's stock valued at $19,951,000 after purchasing an additional 82,035 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Monarch Casino & Resort by 64.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 178,976 shares of the company's stock worth $18,943,000 after acquiring an additional 70,185 shares during the period. Geode Capital Management LLC lifted its position in shares of Monarch Casino & Resort by 20.0% during the 2nd quarter. Geode Capital Management LLC now owns 391,868 shares of the company's stock worth $33,877,000 after purchasing an additional 65,272 shares during the last quarter. Finally, Clark Capital Management Group Inc. bought a new stake in Monarch Casino & Resort in the 3rd quarter valued at $6,192,000. Institutional investors and hedge funds own 62.37% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the company. Stifel Nicolaus lifted their price target on Monarch Casino & Resort from $92.00 to $97.00 and gave the company a "hold" rating in a research note on Wednesday, October 22nd. Jefferies Financial Group reissued a "hold" rating and issued a $112.00 target price on shares of Monarch Casino & Resort in a research report on Wednesday, December 24th. Wells Fargo & Company boosted their price objective on shares of Monarch Casino & Resort from $89.00 to $91.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 22nd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Monarch Casino & Resort in a research note on Monday, December 29th. Finally, Zacks Research downgraded Monarch Casino & Resort from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 15th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $99.40.
Read Our Latest Research Report on MCRI
About Monarch Casino & Resort
(
Get Free Report)
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.
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