Key Points
- CEO John Farahi sold a total of 3,000 MCRI shares in March (1,000 on Mar 10 at $97.43 and 2,000 on Mar 16 at $99), generating about $295,430 while his stake remained roughly 538,304 shares.
- Monarch missed quarterly EPS expectations (reported $1.25 vs. $1.37 consensus) though revenue rose 4.1% to $140M; the company also paid a $0.30 quarterly dividend (annualized $1.20, ~1.2% yield) and the analyst consensus target is about $99.80 ("Moderate Buy").
Monarch Casino & Resort, Inc. (NASDAQ:MCRI - Get Free Report) CEO John Farahi sold 1,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 538,304 shares of the company's stock, valued at approximately $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 hyperlink.
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 Up 0.6%
Shares of MCRI stock opened at $99.47 on Thursday. Monarch Casino & Resort, Inc. has a fifty-two week low of $69.99 and a fifty-two week high of $113.88. The firm's 50 day moving average price is $95.22 and its two-hundred day moving average price is $96.52. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 18.32 and a beta of 1.29.
Monarch Casino & Resort (NASDAQ:MCRI - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $140.00 million during the quarter, compared to analyst estimates of $139.39 million. During the same period in the previous year, the company earned $0.22 EPS. Monarch Casino & Resort's revenue was up 4.1% on a year-over-year basis. On average, equities analysts forecast that Monarch Casino & Resort, Inc. will post 5.13 EPS for the current fiscal year.
Monarch Casino & Resort Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Monday, March 2nd. Monarch Casino & Resort's dividend payout ratio is 22.10%.
Institutional Investors Weigh In On Monarch Casino & Resort
A number of large investors have recently added to or reduced their stakes in MCRI. Farther Finance Advisors LLC increased its stake in Monarch Casino & Resort by 199.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 329 shares of the company's stock worth $35,000 after buying an additional 219 shares during the period. Osaic Holdings Inc. boosted its position in Monarch Casino & Resort by 210.0% in the 2nd quarter. Osaic Holdings Inc. now owns 465 shares of the company's stock valued at $40,000 after buying an additional 315 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in Monarch Casino & Resort in the 4th quarter valued at about $40,000. USA Financial Formulas acquired a new stake in shares of Monarch Casino & Resort during the third quarter valued at about $47,000. Finally, TD Private Client Wealth LLC grew its stake in shares of Monarch Casino & Resort by 57.1% during the third quarter. TD Private Client Wealth LLC now owns 594 shares of the company's stock valued at $63,000 after acquiring an additional 216 shares in the last quarter. 62.37% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts have commented on MCRI shares. Jefferies Financial Group reissued a "hold" rating and issued a $112.00 price objective on shares of Monarch Casino & Resort in a research report on Wednesday, December 24th. Zacks Research upgraded Monarch Casino & Resort from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 6th. Wells Fargo & Company raised their target price on Monarch Casino & Resort from $92.00 to $93.00 and gave the company an "equal weight" rating in a report on Thursday, February 5th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Monarch Casino & Resort in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $99.80.
Get Our Latest Report on MCRI
Monarch Casino & Resort Company Profile
(
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.
Further Reading
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