WCG Wealth Advisors LLC Acquires 9,505 Shares of Red Rock Resorts, Inc. $RRR

WCG Wealth Advisors LLC raised its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR) by 52.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,643 shares of the company’s stock after buying an additional 9,505 shares during the period. WCG Wealth Advisors LLC’s holdings in Red Rock Resorts were worth $1,712,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Salomon & Ludwin LLC bought a new stake in Red Rock Resorts in the fourth quarter valued at approximately $25,000. Strs Ohio bought a new stake in Red Rock Resorts in the third quarter valued at approximately $37,000. GAMMA Investing LLC raised its stake in Red Rock Resorts by 53.8% in the fourth quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock valued at $47,000 after buying an additional 263 shares during the period. PNC Financial Services Group Inc. raised its stake in Red Rock Resorts by 98.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,474 shares of the company’s stock valued at $91,000 after buying an additional 733 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in Red Rock Resorts in the second quarter valued at approximately $94,000. Institutional investors own 47.84% of the company’s stock.

Analyst Ratings Changes

RRR has been the topic of several research analyst reports. Mizuho set a $77.00 price objective on Red Rock Resorts in a research note on Wednesday, February 11th. Weiss Ratings lowered Red Rock Resorts from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Stifel Nicolaus set a $70.00 target price on Red Rock Resorts in a research report on Friday, May 29th. Wells Fargo & Company decreased their target price on Red Rock Resorts from $59.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 30th. Finally, Zacks Research downgraded Red Rock Resorts from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. Twelve equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.53.

Red Rock Resorts Price Performance

Red Rock Resorts stock opened at $57.39 on Friday. Red Rock Resorts, Inc. has a 12 month low of $47.56 and a 12 month high of $68.99. The stock’s 50 day moving average is $55.10 and its 200-day moving average is $58.78. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 14.42. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 4.30 and a beta of 1.36.

Red Rock Resorts (NASDAQ:RRR) last posted its earnings results on Wednesday, April 29th. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.17). Red Rock Resorts had a net margin of 9.21% and a return on equity of 61.67%. The firm had revenue of $507.32 million during the quarter, compared to analyst estimates of $505.63 million. During the same period in the previous year, the company posted $0.75 EPS. Red Rock Resorts’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities research analysts expect that Red Rock Resorts, Inc. will post 1.53 EPS for the current year.

Red Rock Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.04 dividend on an annualized basis and a yield of 1.8%. Red Rock Resorts’s dividend payout ratio is currently 33.44%.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.