In a recent transaction, John Ferrucci, the Chief Operating Officer of Full House Resorts Inc . (NASDAQ:), sold shares of the company’s common stock, leading to a notable change in his holdings. The sale, which took place on August 15, 2024, involved a total of 18,499 shares with a weighted average price of approximately $5.00 per share, ranging from $4.95 to $5.05. This transaction resulted in a total value of over $92,000.
On the same date, Ferrucci engaged in a separate transaction where he acquired 18,499 shares at a price of $1.51 per share, amounting to a total of approximately $27,933. It’s worth noting that the shares acquired were non-derivative securities, indicating a direct investment in the company’s stock.
This series of transactions has adjusted Ferrucci’s total holdings in Full House Resorts Inc., reflecting his ongoing investment activities within the company. Investors often monitor such insider transactions as they can provide insights into executives’ perspectives on the company’s current valuation and future prospects.
Full House Resorts Inc., headquartered in Las Vegas, Nevada, operates in the hospitality and gaming industry. The company is known for its involvement in hotels and motels, providing entertainment and leisure services to its customers.
As per the filing, the sold shares were part of a series of multiple transactions, and Ferrucci has committed to providing full information regarding the number of shares sold at each separate price within the reported range, should any stockholder or the Securities and Exchange Commission request it.
The transactions were reported in a Form 4 filing with the Securities and Exchange Commission, which documents changes in company ownership by corporate insiders. This form is a public document and is part of the transparency measures that allow investors to track the buying and selling activities of a company’s executives and other insiders.
In other recent news, Full House Resorts has shown positive growth and is planning expansion. The company reported a positive EBITDA and significant growth at its Chamonix property for the second quarter of 2024, despite market challenges. Full House Resorts is also advancing with the American Place project, with construction planned to begin in August 2025. The company is considering issuing new bonds to finance this project, which is expected to cost around $325 million.
Full House Resorts’ Chamonix property experienced a substantial increase in room sales and gaming revenues, and the company is focusing on attracting group and convention business to fill midweek room nights. However, Full House Resorts is dealing with a lawsuit from the Potawatomi tribe, which could impact the American Place project timeline. Despite the challenges, the company is optimistic about the long-term success of its Chamonix casino and is targeting specific customer demographics.
These are recent developments for Full House Resorts, which is also planning to open an Italian restaurant at the old Bronco Billy’s location and is targeting a higher percentage of gaming revenues from table games. The company aims to achieve $10.5 million of monthly gaming revenue with margins over 30%. With these developments, Full House Resorts continues to make strides in a competitive industry.
InvestingPro Insights
Full House Resorts Inc. (NASDAQ:FLL) has seen a flurry of activity with COO John Ferrucci’s recent stock transactions. These moves come at a time when the company’s financial metrics and market performance are closely watched by investors. According to real-time data from InvestingPro, Full House Resorts Inc. has a market capitalization of $174.7 million, which gives a sense of the company’s size in the competitive hospitality and gaming industry landscape.
InvestingPro Data shows that Full House Resorts Inc. has experienced significant sales growth over the last twelve months as of Q2 2024, with a revenue increase of 47.08%. This growth is a key factor for investors considering the future prospects of the company. Additionally, the company’s gross profit margin stands at a healthy 53.7%, indicating its ability to maintain profitability on its services.
However, it’s not all positive news for Full House Resorts Inc. The company is currently trading with a negative P/E ratio of -6.23, which could raise concerns about its earnings outlook. InvestingPro Tips reveal that analysts do not anticipate the company will be profitable this year and that it operates with a significant debt burden. These factors are crucial for investors to consider when evaluating the company’s financial health and investment potential.
For those looking for more detailed analysis, InvestingPro offers additional tips on Full House Resorts Inc., including insights into cash burn rates, stock price volatility, and short-term obligations. There are 11 more InvestingPro Tips available that can help investors make more informed decisions by understanding the nuances of Full House Resorts’ financial and market performance.
Understanding the context of Ferrucci’s transactions within these financial metrics can offer a more comprehensive view of the insider’s actions and the company’s condition. For further insights and tips on Full House Resorts Inc., investors can visit https://www.investing.com/pro/FLL.
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