According to GuruFocus Insider Data, these were the largest CEO buys of the past week.
Red Rock Resorts
Red Rock Resorts Inc. (RRR, Financial) CEO and 10% Owner Frank J. Fertitta III bought 1,155,000 shares during the past week at the average price of $14.38.
Red Rock Resorts, along with its subsidiary, is a gaming, development and management company. The company mainly develops strategically-located casino and entertainment properties.
The company has a market cap of $1.90 billion. Its shares traded at $16.22 as of Aug. 14.
The net loss was $118.4 million for the second quarter of 2020 compared to a net loss of $7.1 million for the same period of 2019.
Frank J. Fertitta bought 94,000 shares on Aug. 7 at a price of $13.51; 705,000 shares on Aug. 10 at a price of $14.12; and 450,000 shares on Aug. 12 at a price of $14.79. The price of the stock has increased by 9.67% since then.
Vice President and 10% Owner Lorenzo J. Fertitta bought 494,000 shares on Aug. 7 at a price of $13.51; 705,000 shares on Aug. 10 at a price of $14.12; and 450,000 shares on Aug. 12 at a price of $14.79. Since then, the price of the stock has increased by 9.67%.
Rocket Companies
Rocket Companies Inc. (RKT, Financial) CEO Jay Farner bought 204,000 shares on Aug. 10 at a price of $18.00. The price of the stock has increased by 5.33% since then.
Rocket Companies engages in the mortgage business in the United States. It is involved in originating, processing, underwriting and servicing predominantly government sponsored enterprises (GSE) conforming mortgage loans, as well as Fair Housing Act, U.S. Department of Agriculture and U.S. Department of Veteran's Affairs mortgage loans. The company's flagship business is Rocket Mortgage, which offers GSE-conforming and government insured mortgage loan products that are marketed in 50 states through the internet, national television and other marketing channels.
The company has a market cap of $37.61 billion. Its shares traded at $18.96 as of Aug. 14.
Net income for the second quarter of 2020 was $3.5 billion compared to a net loss of $54 million in the second quarter of 2019.
Director Nancy Tellem bought 35,000 shares on Aug. 10 at a price of $18. Since then, the price of the stock has increased by 5.33%.
Director and 10% Owner Jennifer L. Gilbert bought 372,565 shares on Aug. 5 at a price of $18. The price of the stock has increased by 5.33% since then.
Director and 10% Owner Daniel B. Gilbert bought 372,565 shares on Aug. 5 at a price of $18. Since then, the price of the stock has increased by 5.33%.
Virtu Financial
Virtu Financial Inc. (VIRT, Financial) CEO Douglas A. Cifu bought 100,000 shares on Aug. 11 at a price of $22.45. The price of the stock has increased by 6.77% since then.
Virtu Financial is a leading technology-enabled market maker and liquidity provider to the global financial markets. The Market Making segment principally consists of market making in the cash, futures and options markets across global equities, options, fixed income, currencies and commodities. Geographically, it derives a majority of revenue from the United States.
The company has a market cap of $4.63 billion. Its shares traded at $23.97 with a price-earnings ratio of 7.41 as of August 14.
Net income totaled $335.3 million for the second quarter of 2020 compared to a net loss of $55.5 million in the prior year quarter.
Quidel
Quidel Corp. (QDEL, Financial) President and CEO Douglas C. Bryant bought 5,000 shares on Aug. 11 at a price of $234.12. Since then, the price of the stock has increased by 5.04%.
Quidel is engaged in the development, manufacturing and marketing of rapid diagnostic testing solutions. It is separated into four product categories: rapid immunoassays, cardiac immunoassays, specialized diagnostic solutions and molecular diagnostic solutions. The company generates a majority of its revenue from the rapid immunoassays.
The company has a market cap of $10.32 billion. Its shares traded at $245.93 with a price-earnings ratio of 69.22 as of Aug. 14.
Net income for the second quarter was $67.7 million as compared to a net income of $1.3 million for the second quarter of 2019.
Chief Financial Officer Randall J. Steward sold 21,166 shares on Aug. 3 at a price of $286.31. The price of the stock has decreased by 14.1% since then.
Director Edward L. Michael bought 3,500 shares on Aug. 3 at a price of $288.12. Since then, the price of the stock has decreased by 14.64%.
Senior Vice President of Research & Development Werner Kroll sold 2,072 shares on Aug. 3 at a price of $287.48. The price of the stock has decreased by 14.45% since then.
Director Kenneth F. Buechler sold 7,800 shares on Aug. 3 at a price of $289.22. Since then, the price of the stock has decreased by 14.97%.
Arcus Biosciences
Arcus Biosciences Inc. (RCUS, Financial) CEO Terry J. Rosen bought 43,705 shares on Aug. 10 at a price of $22.86. The price of the stock has increased by 4.02% since then.
Arcus Biosciences is a clinical-stage biopharmaceutical company which focuses on creating innovative cancer immunotherapies by leveraging underexploited biological opportunities. The company focuses on an ATP-adenosine pathway which is a key driver of immunosuppression in the tumor microenvironment to create and optimize differentiated small-molecule immuno-oncology product candidates. The pipeline products of the company include dual and selective A2R antagonists, small-molecule and antibody programs which target solid tumors.
The company has a market cap of $1.54 billion. Its shares traded at $23.78 as of Aug. 14.
Net loss was $45.1 million for the three months ended June 30, 2020 compared to $28.1 million for the same period in the prior year.
Chief Medical Officer William Grossman bought 200 shares on July 31 at a price of $19.72. Since then, the price of the stock has increased by 20.59%.
For the complete list of stocks bought by their company CEOs, go to: CEO Buys.
Disclosure: I do not own stock in any of the companies mentioned in the article.
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