WCG Wealth Advisors LLC Has $1.01 Million Stock Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

WCG Wealth Advisors LLC lifted its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 2.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,325 shares of the company’s stock after purchasing an additional 450 shares during the period. WCG Wealth Advisors LLC’s holdings in Red Rock Resorts were worth $1,007,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Seven Eight Capital LP raised its position in shares of Red Rock Resorts by 477.5% during the second quarter. Seven Eight Capital LP now owns 28,914 shares of the company’s stock worth $1,588,000 after purchasing an additional 23,907 shares during the period. Edgestream Partners L.P. raised its position in Red Rock Resorts by 76.9% during the second quarter. Edgestream Partners L.P. now owns 36,602 shares of the company’s stock valued at $2,011,000 after buying an additional 15,911 shares during the period. Nicholas Investment Partners LP acquired a new position in Red Rock Resorts during the second quarter valued at $5,336,000. American Century Companies Inc. raised its position in Red Rock Resorts by 9.8% during the second quarter. American Century Companies Inc. now owns 34,521 shares of the company’s stock valued at $1,896,000 after buying an additional 3,084 shares during the period. Finally, Malaga Cove Capital LLC raised its position in Red Rock Resorts by 54.5% during the second quarter. Malaga Cove Capital LLC now owns 9,114 shares of the company’s stock valued at $501,000 after buying an additional 3,215 shares during the period. 47.84% of the stock is owned by institutional investors and hedge funds.

Red Rock Resorts Stock Performance

RRR opened at $54.23 on Friday. The company has a market cap of $5.73 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 5.36 and a beta of 2.04. The stock has a 50-day moving average of $56.10 and a 200-day moving average of $55.31. Red Rock Resorts, Inc. has a 52-week low of $37.82 and a 52-week high of $63.28. The company has a debt-to-equity ratio of 15.15, a quick ratio of 0.89 and a current ratio of 0.94.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.16. The company had revenue of $486.40 million during the quarter, compared to the consensus estimate of $475.80 million. Red Rock Resorts had a return on equity of 83.84% and a net margin of 9.21%. The firm’s revenue was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.65 EPS. As a group, equities research analysts forecast that Red Rock Resorts, Inc. will post 1.61 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, September 16th. This represents a $1.00 annualized dividend and a dividend yield of 1.84%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 34.72%.

Insider Transactions at Red Rock Resorts

In other Red Rock Resorts news, VP Lorenzo J. Fertitta bought 33,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average price of $54.49 per share, for a total transaction of $1,798,170.00. Following the purchase, the vice president now directly owns 47,480,301 shares in the company, valued at $2,587,201,601.49. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Red Rock Resorts news, VP Lorenzo J. Fertitta bought 33,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average price of $54.49 per share, for a total transaction of $1,798,170.00. Following the purchase, the vice president now directly owns 47,480,301 shares in the company, valued at $2,587,201,601.49. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Frank J. Fertitta III bought 67,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average price of $54.49 per share, with a total value of $3,650,830.00. Following the purchase, the chief executive officer now owns 45,914,301 shares in the company, valued at $2,501,870,261.49. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 200,000 shares of company stock worth $10,426,000. 53.28% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Susquehanna upped their price target on Red Rock Resorts from $63.00 to $70.00 and gave the company a “positive” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. upped their price target on Red Rock Resorts from $62.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Truist Financial dropped their price target on Red Rock Resorts from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. Morgan Stanley upped their price target on Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 4th. Finally, Barclays upped their price target on Red Rock Resorts from $63.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Red Rock Resorts currently has a consensus rating of “Moderate Buy” and an average price target of $63.50.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc, through its interest in Station Casinos LLC, develops and operates casino and entertainment properties in the United States. The company owns and operates gaming and entertainment facilities, including Durango Casino & Resort and smaller casinos in the Las Vegas regional market.