Red Rock Resorts, Inc. (NASDAQ:RRR) Shares Sold by Strs Ohio

Strs Ohio lowered its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR) by 90.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,100 shares of the company’s stock after selling 10,100 shares during the period. Strs Ohio’s holdings in Red Rock Resorts were worth $58,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in RRR. FMR LLC lifted its position in shares of Red Rock Resorts by 46.4% during the 3rd quarter. FMR LLC now owns 5,249,335 shares of the company’s stock worth $215,223,000 after buying an additional 1,663,839 shares during the last quarter. Bamco Inc. NY increased its holdings in shares of Red Rock Resorts by 10.8% in the 3rd quarter. Bamco Inc. NY now owns 9,856,963 shares of the company’s stock valued at $404,135,000 after acquiring an additional 962,841 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Red Rock Resorts in the 4th quarter valued at $40,331,000. Eminence Capital LP increased its holdings in shares of Red Rock Resorts by 6.0% in the 3rd quarter. Eminence Capital LP now owns 1,959,685 shares of the company’s stock valued at $80,347,000 after acquiring an additional 111,651 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its holdings in shares of Red Rock Resorts by 1.9% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,827,336 shares of the company’s stock valued at $197,921,000 after acquiring an additional 91,798 shares during the period. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on RRR. JPMorgan Chase & Co. boosted their price objective on shares of Red Rock Resorts from $63.00 to $69.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. JMP Securities boosted their price objective on shares of Red Rock Resorts from $61.00 to $66.00 and gave the company a “market outperform” rating in a research note on Friday, April 19th. Truist Financial boosted their price objective on shares of Red Rock Resorts from $58.00 to $60.00 and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Wells Fargo & Company upped their price target on shares of Red Rock Resorts from $57.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Red Rock Resorts from $54.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.67.

Red Rock Resorts Price Performance

Red Rock Resorts stock opened at $53.45 on Thursday. Red Rock Resorts, Inc. has a 52 week low of $37.82 and a 52 week high of $63.28. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 13.54. The firm’s 50-day simple moving average is $58.11 and its 200 day simple moving average is $52.08. The firm has a market capitalization of $5.62 billion, a PE ratio of 18.12, a P/E/G ratio of 2.82 and a beta of 2.06.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Wednesday, February 7th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.40 by $0.55. Red Rock Resorts had a net margin of 10.21% and a return on equity of 114.32%. The business had revenue of $462.71 million for the quarter, compared to analyst estimates of $440.75 million. During the same period in the previous year, the firm earned $1.00 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities research analysts predict that Red Rock Resorts, Inc. will post 1.94 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.87%. Red Rock Resorts’s dividend payout ratio (DPR) is 33.90%.

Insider Buying and Selling at Red Rock Resorts

In other Red Rock Resorts news, CFO Stephen Lawrence Cootey sold 7,520 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $57.74, for a total value of $434,204.80. Following the transaction, 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 legal filing with the SEC, which is available through the SEC website. 53.28% of the stock is owned by insiders.

About Red Rock Resorts

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.