Geode Capital Management LLC Has $53.93 Million Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

Geode Capital Management LLC trimmed its stake in Red Rock Resorts, Inc. (NASDAQ:RRR) by 0.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,166,127 shares of the company’s stock after selling 5,140 shares during the period. Geode Capital Management LLC’s holdings in Red Rock Resorts were worth $53,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. KBC Group NV increased its position in shares of Red Rock Resorts by 37.1% during the fourth quarter. KBC Group NV now owns 1,996 shares of the company’s stock valued at $92,000 after purchasing an additional 540 shares during the period. Mayfair Advisory Group LLC boosted its stake 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 worth $208,000 after buying an additional 591 shares in the last quarter. Cibc World Markets Corp bought a new stake in Red Rock Resorts in the 4th quarter valued at $213,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Red Rock Resorts in the 3rd quarter valued at $233,000. Finally, Versor Investments LP lifted its holdings 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 worth $282,000 after acquiring an additional 2,100 shares during the period. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RRR has been the subject of several recent research reports. Stifel Nicolaus increased their price target on shares of Red Rock Resorts from $50.00 to $54.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. Truist Financial dropped their target price on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. Susquehanna boosted their price target on Red Rock Resorts from $60.00 to $61.00 and gave the company a “positive” rating in a research note on Wednesday, February 12th. Jefferies Financial Group reiterated a “hold” rating and set a $51.00 price objective (down from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Finally, JMP Securities reduced their target price on shares of Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 16th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $57.33.

Red Rock Resorts Trading Up 0.4 %

Shares of NASDAQ RRR opened at $40.49 on Monday. Red Rock Resorts, Inc. has a 1-year low of $35.09 and a 1-year high of $61.73. The company has a 50-day moving average of $46.17 and a two-hundred day moving average of $48.47. The company has a market cap of $4.29 billion, a PE ratio of 16.13, a P/E/G ratio of 4.32 and a beta of 1.69. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28.

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

Red Rock Resorts Announces Dividend

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

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.