There has been significant insider selling at Monarch Casino & Resort during the past three months. Specifically, David-Jacques Farahi sold $1.4m worth of shares in that time, and there were no recorded purchases.
This was a trend throughout the year.
Although prices were relatively low, insiders chose to sell $5.8m worth of stock in the past 12 months, which could be a sign of impending weakness.
Monarch Casino & Resort insiders own 30% of the company, worth about $416m. This kind of significant ownership by insiders generally increases the chance that the company is run in the interest of all shareholders. Usually, the higher the insider ownership, the more likely it is that insiders will have an incentive to build the company for the long term.
Over the last year, the biggest insider sale was by Farahi, for $3.2m worth of shares, at about $71.58 per share. According to Nasdaq, that means that even when the share price was below the current of $73.52, an insider wanted to cash in some shares. When an insider sells below the current price, it suggests that they considered that lower price to be fair.
Farahi was the only individual insider to sell shares in the last 12 months and sold a total of 80.72k shares over the year at an average price of $71.86.
An insider sold Monarch Casino & Resort shares recently, but they didn't buy any and made no purchases over the last year. On the plus side, Monarch Casino & Resort makes money, and is growing profits.