Mayfair Advisory Group LLC Invests $218,000 in Red Rock Resorts, Inc. (NASDAQ:RRR)

Mayfair Advisory Group LLC bought a new position in Red Rock Resorts, Inc. (NASDAQ:RRR) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,906 shares of the company’s stock, valued at approximately $218,000.

Several other hedge funds also recently made changes to their positions in the company. Covestor Ltd boosted its position in Red Rock Resorts by 16,666.7% during the 1st quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $30,000 after purchasing an additional 500 shares during the period. Headlands Technologies LLC acquired a new position in Red Rock Resorts during the 1st quarter valued at approximately $78,000. Point72 DIFC Ltd bought a new stake in Red Rock Resorts during the 2nd quarter valued at $98,000. nVerses Capital LLC bought a new stake in Red Rock Resorts during the 2nd quarter valued at $154,000. Finally, Ritholtz Wealth Management bought a new stake in Red Rock Resorts during the 3rd quarter valued at $215,000. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Price Performance

Shares of NASDAQ:RRR opened at $52.60 on Friday. The business has a 50 day moving average price of $54.29 and a 200 day moving average price of $54.39. Red Rock Resorts, Inc. has a twelve month low of $37.82 and a twelve month high of $63.28. The company has a market cap of $5.55 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 5.42 and a beta of 2.04. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 15.15.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Tuesday, July 23rd. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.16. Red Rock Resorts had a return on equity of 83.84% and a net margin of 9.21%. The firm had revenue of $486.40 million during the quarter, compared to the consensus estimate of $475.80 million. During the same quarter in the prior year, the company earned $0.65 EPS. The firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. Research analysts predict that Red Rock Resorts, Inc. will post 1.64 earnings per share for the current year.

Insider Activity at Red Rock Resorts

In other Red Rock Resorts news, COO Kord Nichols sold 49,464 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $58.00, for a total value of $2,868,912.00. Following the completion of the sale, the chief operating officer now owns 71,946 shares in the company, valued at approximately $4,172,868. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Frank J. Fertitta III acquired 67,000 shares of Red Rock Resorts stock in a transaction on Thursday, August 1st. The stock was bought at an average price of $54.49 per share, for a total transaction of $3,650,830.00. Following the transaction, the chief executive officer now owns 45,914,301 shares of the company’s stock, valued at $2,501,870,261.49. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Kord Nichols sold 49,464 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $58.00, for a total value of $2,868,912.00. Following the completion of the sale, the chief operating officer now owns 71,946 shares of the company’s stock, valued at $4,172,868. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders acquired a total of 200,000 shares of company stock worth $10,426,000 in the last 90 days. 53.28% of the stock is owned by company insiders.

Analysts Set New Price Targets

RRR has been the topic of several recent analyst reports. Susquehanna lifted their target price on Red Rock Resorts from $63.00 to $70.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. JMP Securities reissued a “market outperform” rating and issued a $65.00 price objective on shares of Red Rock Resorts in a research note on Monday, October 14th. JPMorgan Chase & Co. boosted their price objective on Red Rock Resorts from $62.00 to $69.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Macquarie boosted their price objective on Red Rock Resorts from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Stifel Nicolaus upped their target price on Red Rock Resorts from $59.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $62.58.

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.