WCG Wealth Advisors LLC Has $1.71 Million Position in Red Rock Resorts, Inc. $RRR

WCG Wealth Advisors LLC lifted its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 52.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in shares of Red Rock Resorts by 16.0% during the fourth quarter. Bank of New York Mellon Corp now owns 433,435 shares of the company’s stock worth $26,851,000 after buying an additional 59,891 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Red Rock Resorts during the fourth quarter worth about $744,000. Norges Bank acquired a new position in shares of Red Rock Resorts during the fourth quarter worth about $2,577,000. Geode Capital Management LLC boosted its position in shares of Red Rock Resorts by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,188,664 shares of the company’s stock worth $73,648,000 after buying an additional 4,759 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Red Rock Resorts by 147.9% during the fourth quarter. Legal & General Group Plc now owns 119,453 shares of the company’s stock worth $7,400,000 after buying an additional 71,274 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 $57.39 on Friday. Red Rock Resorts, Inc. has a 52-week low of $47.56 and a 52-week high of $68.99. The firm has a market capitalization of $6.03 billion, a PE ratio of 18.45, a PEG ratio of 4.30 and a beta of 1.36. The company has a debt-to-equity ratio of 14.42, a quick ratio of 0.76 and a current ratio of 0.81. The business’s 50-day simple moving average is $55.10 and its 200 day simple moving average is $58.78.

Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Wednesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.17). Red Rock Resorts had a return on equity of 61.67% and a net margin of 9.21%.The company had revenue of $507.32 million for the quarter, compared to the consensus estimate of $505.63 million. During the same quarter in the previous year, the company posted $0.75 EPS. The business’s revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts expect that Red Rock Resorts, Inc. will post 1.53 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

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

Analyst Upgrades and Downgrades

RRR has been the subject of several recent research reports. Wells Fargo & Company reduced their price objective on Red Rock Resorts from $59.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. Citizens Jmp reduced their price objective on Red Rock Resorts from $71.00 to $67.00 and set a “market outperform” rating for the company in a research report on Thursday, April 30th. Susquehanna reduced their price objective on Red Rock Resorts from $77.00 to $70.00 and set a “positive” rating for the company in a research report on Thursday, April 30th. Morgan Stanley set a $59.00 price objective on Red Rock Resorts in a research report on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $72.00 price objective on shares of Red Rock Resorts in a research report on Thursday, April 30th. Twelve research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $67.53.

Red Rock Resorts 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.