Wellington Management Group LLP Sells 98,788 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Wellington Management Group LLP reduced its holdings in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 53.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 86,230 shares of the company’s stock after selling 98,788 shares during the period. Wellington Management Group LLP owned about 0.08% of Red Rock Resorts worth $3,987,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. KBC Group NV lifted its position in shares of Red Rock Resorts by 37.1% during the 4th quarter. KBC Group NV now owns 1,996 shares of the company’s stock valued at $92,000 after buying an additional 540 shares in the last quarter. Mayfair Advisory Group LLC lifted its holdings in Red Rock Resorts by 15.1% during the fourth quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock valued at $208,000 after purchasing an additional 591 shares in the last quarter. Cibc World Markets Corp bought a new position in shares of Red Rock Resorts in the fourth quarter worth approximately $213,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Red Rock Resorts in the third quarter worth $233,000. Finally, Versor Investments LP raised its position in shares of Red Rock Resorts by 52.5% during the 4th quarter. Versor Investments LP now owns 6,100 shares of the company’s stock valued at $282,000 after purchasing an additional 2,100 shares during the period. 47.84% of the stock is currently owned by institutional investors.

Red Rock Resorts Stock Performance

Shares of NASDAQ:RRR opened at $40.49 on Friday. The firm has a fifty day simple moving average of $46.17 and a two-hundred day simple moving average of $48.51. Red Rock Resorts, Inc. has a 52 week low of $35.09 and a 52 week high of $61.73. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The stock has a market capitalization of $4.29 billion, a P/E ratio of 16.13, a PEG ratio of 4.32 and a beta of 1.69.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. On average, analysts expect that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 2.47%. Red Rock Resorts’s payout ratio is presently 39.84%.

Analyst Upgrades and Downgrades

RRR has been the subject of a number of analyst reports. Jefferies Financial Group reiterated a “hold” rating and issued a $51.00 price target (down previously from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Susquehanna increased their target price on Red Rock Resorts from $60.00 to $61.00 and gave the stock a “positive” rating in a research report on Wednesday, February 12th. Truist Financial lowered their price target on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Stifel Nicolaus increased their price objective on shares of Red Rock Resorts from $50.00 to $54.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. Finally, Mizuho lifted their price objective on shares of Red Rock Resorts from $44.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $57.33.

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.