Hsbc Holdings PLC Purchases 3,279 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Hsbc Holdings PLC increased its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 60.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,693 shares of the company’s stock after purchasing an additional 3,279 shares during the period. Hsbc Holdings PLC’s holdings in Red Rock Resorts were worth $402,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Long Pond Capital LP grew its holdings in Red Rock Resorts by 142.5% during the 4th quarter. Long Pond Capital LP now owns 1,474,153 shares of the company’s stock valued at $68,165,000 after buying an additional 866,320 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Red Rock Resorts by 167.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 422,447 shares of the company’s stock worth $19,534,000 after acquiring an additional 264,609 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in Red Rock Resorts by 20.6% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,344,058 shares of the company’s stock valued at $62,149,000 after acquiring an additional 229,843 shares in the last quarter. Norges Bank bought a new stake in Red Rock Resorts in the 4th quarter valued at $5,352,000. Finally, Trexquant Investment LP purchased a new stake in Red Rock Resorts in the 4th quarter worth $5,273,000. 47.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RRR. Susquehanna reduced their target price on Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating on the stock in a report on Wednesday, April 16th. Stifel Nicolaus reduced their price objective on Red Rock Resorts from $54.00 to $44.00 and set a “hold” rating on the stock in a research note on Friday, May 2nd. Truist Financial lowered their target price on Red Rock Resorts from $56.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. Barclays reduced their price target on shares of Red Rock Resorts from $58.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Finally, Mizuho lowered their price objective on shares of Red Rock Resorts from $52.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $52.83.

Red Rock Resorts Price Performance

RRR stock opened at $43.99 on Thursday. 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, Inc. has a 12 month low of $35.09 and a 12 month high of $61.73. The stock has a market cap of $4.66 billion, a PE ratio of 17.53, a P/E/G ratio of 4.32 and a beta of 1.64. The company has a 50-day moving average price of $42.96 and a 200 day moving average price of $47.14.

Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Thursday, May 1st. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.33. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. The firm had revenue of $497.86 million for the quarter, compared to analysts’ expectations of $499.12 million. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The company’s quarterly revenue was up 1.8% on a year-over-year basis. Equities research analysts anticipate that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The firm also recently announced an annual dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Wednesday, May 14th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a yield of 2.29%. Red Rock Resorts’s payout ratio is 38.76%.

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.