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LAS VEGAS— Lewis (JO:LEWJ) A. Fanger, the Senior Vice President, CFO, and Treasurer of Full House Resorts Inc . (NASDAQ:FLL), a casino operator with a market capitalization of $178 million, reported a significant stock sale on January 24, 2025. According to InvestingPro analysis, FLL’s stock has shown strong momentum recently, though the company’s overall financial health score remains weak. According to the recent SEC filing, Fanger sold 104,992 shares of the company’s common stock, generating approximately $485,546. The shares were sold at a weighted average price of $4.6246 per share, with transactions occurring within a range of $4.405 to $4.78. The stock currently trades at $5.00, suggesting it may be overvalued according to InvestingPro’s Fair Value assessment.
In addition to the sale, Fanger exercised stock options to acquire 104,992 shares at a price of $1.37 per share, amounting to a total value of $143,839. This transaction was conducted under a Rule 10b5-1 trading plan, which Fanger adopted on August 22, 2024.
Following these transactions, Fanger’s direct ownership of Full House Resorts stands at 254,658 shares.
In other recent news, Full House Resorts has seen a flurry of developments. JMP Securities upgraded the company’s stock from Market Perform to Market Outperform, maintaining a price target of $6.00. This decision comes despite the company’s significant debt burden and cash flow challenges, with an EBITDA of $37.1 million in the last twelve months and anticipated headwinds due to the lower-end consumer market and seasonal snow levels in Colorado. However, the company’s strong revenue growth of 28.57% in the past twelve months and projected compound annual growth rate (CAGR) of 33% in EBITDA from 2024 to 2026 were highlighted as reasons for the positive rating.
In a move to boost its management team, Full House Resorts announced the appointment of Jeff Michie as the new vice president and general manager of its Rising Star Casino (EPA:CASP) Resort in Rising Sun, Indiana. This comes alongside inducement equity awards granted to Michie and two other new employees, Kimberly Bender and Katelynn May, as part of the company’s strategy to attract top talent.
On the financial front, the company unveiled its third quarter results led by Chief Financial Officer Lewis Fanger. Full House Resorts also announced an upcoming advertising campaign for the Chamonix project, demonstrating its active engagement with stakeholders and its enthusiasm for this new project. The company’s next earnings report is scheduled for March 11, 2025, which will provide further insights into its performance and growth trajectory.
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