Monarch Casino & Resort, Inc. (NASDAQ:MCRI) President Bob Farahi Sells 24,340 Shares

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) President Bob Farahi sold 24,340 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $45.08, for a total value of $1,097,247.20. Following the completion of the transaction, the president now owns 380,066 shares of the company’s stock, valued at approximately $17,133,375.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Shares of NASDAQ:MCRI traded up $0.76 during midday trading on Friday, reaching $46.15. The company had a trading volume of 38,410 shares, compared to its average volume of 44,337. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.58 and a current ratio of 0.64. Monarch Casino & Resort, Inc. has a 1-year low of $34.45 and a 1-year high of $48.71. The firm has a market cap of $794.40 million, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 1.81 and a beta of 1.02. The company has a fifty day simple moving average of $45.05 and a two-hundred day simple moving average of $44.10.

Monarch Casino & Resort (NASDAQ:MCRI) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.04. Monarch Casino & Resort had a return on equity of 11.24% and a net margin of 14.01%. The firm had revenue of $62.76 million during the quarter, compared to analyst estimates of $61.20 million. Analysts expect that Monarch Casino & Resort, Inc. will post 1.95 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in MCRI. Intrinsic Edge Capital Management LLC acquired a new stake in Monarch Casino & Resort during the 2nd quarter worth about $2,137,000. Nuveen Asset Management LLC acquired a new stake in Monarch Casino & Resort during the 2nd quarter worth about $1,860,000. Janus Henderson Group PLC boosted its position in Monarch Casino & Resort by 8.6% during the 2nd quarter. Janus Henderson Group PLC now owns 452,611 shares of the company’s stock worth $19,345,000 after acquiring an additional 35,700 shares during the period. BlackRock Inc. boosted its position in Monarch Casino & Resort by 1.2% during the 2nd quarter. BlackRock Inc. now owns 1,785,371 shares of the company’s stock worth $76,307,000 after acquiring an additional 21,835 shares during the period. Finally, Park West Asset Management LLC boosted its position in Monarch Casino & Resort by 1.2% during the 2nd quarter. Park West Asset Management LLC now owns 1,497,531 shares of the company’s stock worth $64,004,000 after acquiring an additional 17,193 shares during the period. Hedge funds and other institutional investors own 60.35% of the company’s stock.

A number of equities analysts recently weighed in on the company. BidaskClub lowered Monarch Casino & Resort from a “hold” rating to a “sell” rating in a research report on Thursday, September 5th. ValuEngine upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating in a research report on Monday, July 29th. Finally, Zacks Investment Research upgraded Monarch Casino & Resort from a “sell” rating to a “hold” rating in a research report on Thursday, July 25th.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel/casino facility in Reno, Nevada. It also owns and operates the Monarch Casino Black Hawk in Black Hawk, Colorado. As of February 20, 2019, the company's Atlantis Casino Resort Spa featured approximately 61,000 square feet of casino space; 824 guest rooms; 8 food outlets; 2 espresso and pastry bars; a 30,000 square-foot health spa and salon with an enclosed pool; 2 retail outlets offering clothing and gift shop merchandise; an 8,000 square-foot family entertainment center; and approximately 52,000 square feet of banquet, convention, and meeting room space.

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