Red Rock Resorts, Inc. (NASDAQ:RRR) Stock Holdings Reduced by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lowered its position in Red Rock Resorts, Inc. (NASDAQ:RRR) by 99.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,759 shares of the company’s stock after selling 3,705,533 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Red Rock Resorts were worth $414,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in shares of Red Rock Resorts during the 1st quarter worth about $30,000. Lazard Asset Management LLC bought a new stake in shares of Red Rock Resorts during the 4th quarter worth about $34,000. Tower Research Capital LLC TRC boosted its stake in shares of Red Rock Resorts by 601.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,283 shares of the company’s stock worth $57,000 after acquiring an additional 1,100 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Red Rock Resorts during the 2nd quarter worth about $92,000. Finally, State of Wyoming bought a new stake in shares of Red Rock Resorts during the 4th quarter worth about $113,000. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on RRR. Wells Fargo & Company increased their target price on Red Rock Resorts from $57.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. increased their target price on Red Rock Resorts from $63.00 to $69.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Macquarie upgraded Red Rock Resorts from a “neutral” rating to an “outperform” rating and increased their target price for the company from $51.00 to $58.00 in a research note on Wednesday, January 17th. Barclays increased their target price on Red Rock Resorts from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Red Rock Resorts from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.67.

Insider Buying and Selling

In related news, CFO Stephen Lawrence Cootey sold 7,520 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $57.74, for a total transaction of $434,204.80. Following the sale, the chief financial officer now directly owns 243,808 shares in the company, valued at approximately $14,077,473.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 54.20% of the stock is owned by corporate insiders.

Red Rock Resorts Trading Down 1.9 %

Shares of RRR opened at $58.66 on Thursday. Red Rock Resorts, Inc. has a 1 year low of $37.82 and a 1 year high of $63.28. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 13.54. The stock has a 50 day simple moving average of $58.33 and a 200-day simple moving average of $50.97. The stock has a market cap of $6.17 billion, a PE ratio of 19.88, a PEG ratio of 3.08 and a beta of 2.06.

Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Wednesday, February 7th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.55. Red Rock Resorts had a return on equity of 114.32% and a net margin of 10.21%. The business had revenue of $462.71 million during the quarter, compared to analysts’ expectations of $440.75 million. During the same period in the prior year, the firm posted $1.00 EPS. Red Rock Resorts’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, sell-side analysts predict that Red Rock Resorts, Inc. will post 1.93 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.25 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.70%. Red Rock Resorts’s payout ratio is presently 33.90%.

Red Rock Resorts 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.