State Street Corp lifted its position in Red Rock Resorts Inc (NASDAQ:RRR) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,438,093 shares of the company’s stock after buying an additional 17,234 shares during the quarter. State Street Corp owned about 1.23% of Red Rock Resorts worth $29,200,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its stake in shares of Red Rock Resorts by 1,848.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,812 shares of the company’s stock valued at $37,000 after buying an additional 1,719 shares in the last quarter. Bank of Montreal Can boosted its position in Red Rock Resorts by 1,067.9% during the second quarter. Bank of Montreal Can now owns 6,412 shares of the company’s stock worth $138,000 after purchasing an additional 5,863 shares during the period. Zebra Capital Management LLC bought a new stake in Red Rock Resorts during the second quarter worth approximately $215,000. LPL Financial LLC boosted its position in Red Rock Resorts by 8.6% during the second quarter. LPL Financial LLC now owns 10,099 shares of the company’s stock worth $217,000 after purchasing an additional 797 shares during the period. Finally, Green Square Asset Management LLC bought a new stake in Red Rock Resorts during the second quarter worth approximately $217,000. 61.57% of the stock is owned by institutional investors and hedge funds.
RRR opened at $23.88 on Wednesday. Red Rock Resorts Inc has a 1-year low of $16.76 and a 1-year high of $29.80. The company has a current ratio of 0.96, a quick ratio of 0.90 and a debt-to-equity ratio of 3.85. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 18.23 and a beta of 2.09. The business has a 50 day moving average of $22.73 and a 200-day moving average of $21.41.
Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. Red Rock Resorts had a return on equity of 7.58% and a net margin of 0.04%. The company had revenue of $465.86 million during the quarter, compared to analysts’ expectations of $469.74 million. Equities analysts predict that Red Rock Resorts Inc will post 0.05 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $0.10 dividend. The ex-dividend date is Thursday, December 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.68%. Red Rock Resorts’s dividend payout ratio is 30.53%.
A number of equities research analysts have issued reports on the company. Nomura decreased their target price on Red Rock Resorts from $36.00 to $26.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. BidaskClub raised Red Rock Resorts from a “hold” rating to a “buy” rating in a research report on Wednesday, November 20th. Union Gaming Research cut Red Rock Resorts from a “buy” rating to a “hold” rating and decreased their target price for the stock from $25.00 to $22.00 in a research report on Wednesday, November 6th. raised Red Rock Resorts from a “hold” rating to a “buy” rating in a research report on Monday, November 25th. Finally, Deutsche Bank reaffirmed a “buy” rating and set a $25.00 target price on shares of Red Rock Resorts in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $25.57.
In other Red Rock Resorts news, Director Frank J. Fertitta III acquired 10,170 shares of Red Rock Resorts stock in a transaction dated Monday, October 7th. The stock was bought at an average cost of $19.50 per share, with a total value of $198,315.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at . Also, Director Lorenzo J. Fertitta acquired 9,540 shares of Red Rock Resorts stock in a transaction dated Wednesday, October 2nd. The stock was acquired at an average cost of $19.48 per share, with a total value of $185,839.20. The disclosure for this purchase can be found here. 40.19% of the stock is currently owned by corporate insiders.
About Red Rock Resorts
Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.
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