Bob Farahi Sells 16,231 Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Stock

Monarch Casino & Resort, Inc. (NASDAQ:MCRI – Get Rating) President Bob Farahi sold 16,231 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $67.62, for a total value of $1,097,540.22. Following the completion of the transaction, the president now owns 192,220 shares in the company, valued at approximately $12,997,916.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, May 8th, Bob Farahi sold 3,509 shares of Monarch Casino & Resort stock. The shares were sold at an average price of $67.05, for a total value of $235,278.45.
• On Friday, May 5th, Bob Farahi sold 224 shares of Monarch Casino & Resort stock. The stock was sold at an average price of $68.10, for a total value of $15,254.40.

Monarch Casino & Resort Trading Down 2.1 %

Shares of MCRI opened at $66.08 on Wednesday. Monarch Casino & Resort, Inc. has a 1 year low of $54.01 and a 1 year high of $85.67. The company has a current ratio of 0.50, a quick ratio of 0.44 and a debt-to-equity ratio of 0.11. The stock has a 50 day simple moving average of $71.11 and a 200-day simple moving average of $75.93. The stock has a market cap of $1.26 billion, a PE ratio of 14.88 and a beta of 1.67.

Hedge Funds Weigh In On Monarch Casino & Resort

A number of hedge funds have recently modified their holdings of the stock. Royce & Associates LP raised its holdings in shares of Monarch Casino & Resort by 38.3% in the 1st quarter. Royce & Associates LP now owns 15,455 shares of the company’s stock worth $1,146,000 after buying an additional 4,284 shares in the last quarter. State Street Corp grew its stake in shares of Monarch Casino & Resort by 3.3% during the first quarter. State Street Corp now owns 457,608 shares of the company’s stock worth $33,932,000 after purchasing an additional 14,510 shares during the period. Squarepoint Ops LLC grew its stake in shares of Monarch Casino & Resort by 109.0% during the first quarter. Squarepoint Ops LLC now owns 23,761 shares of the company’s stock worth $1,762,000 after purchasing an additional 12,390 shares during the period. First Trust Advisors LP grew its stake in shares of Monarch Casino & Resort by 65.6% during the first quarter. First Trust Advisors LP now owns 52,865 shares of the company’s stock worth $3,920,000 after purchasing an additional 20,937 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Monarch Casino & Resort by 5.0% during the first quarter. Geode Capital Management LLC now owns 266,711 shares of the company’s stock worth $19,777,000 after purchasing an additional 12,734 shares during the period. 61.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on MCRI shares. StockNews.com started coverage on Monarch Casino & Resort in a research note on Thursday, May 18th. They set a “buy” rating for the company. Stifel Nicolaus upped their price target on Monarch Casino & Resort from $85.00 to $91.00 in a research note on Wednesday, February 15th. Finally, TheStreet downgraded Monarch Casino & Resort from a “b” rating to a “c+” rating in a research note on Thursday, February 16th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Monarch Casino & Resort has an average rating of “Moderate Buy” and a consensus price target of $89.00.

About Monarch Casino & Resort

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Monarch Casino & Resort, Inc engages in the ownership and operation of the Atlantis Casino Resort Spa, a hotel and casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk, Colorado. The company was founded in 1993 and is headquartered in Reno, NV.