Tower Research Capital LLC TRC Boosts Stock Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

Tower Research Capital LLC TRC lifted its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR) by 47.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,055 shares of the company’s stock after acquiring an additional 664 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Red Rock Resorts were worth $95,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Sterling Capital Management LLC lifted its position in Red Rock Resorts by 654.7% during the fourth quarter. Sterling Capital Management LLC now owns 883 shares of the company’s stock valued at $41,000 after acquiring an additional 766 shares during the last quarter. KBC Group NV lifted its holdings 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 purchasing an additional 540 shares during the last quarter. Mayfair Advisory Group LLC boosted its position in shares of Red Rock Resorts by 15.1% in the 4th quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock worth $208,000 after purchasing an additional 591 shares in the last quarter. Cibc World Markets Corp purchased a new position in Red Rock Resorts during the 4th quarter worth $213,000. Finally, Jump Financial LLC acquired a new position in Red Rock Resorts during the 4th quarter valued at about $253,000. 47.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RRR has been the subject of several recent analyst reports. Stifel Nicolaus lowered their price target on Red Rock Resorts from $54.00 to $44.00 and set a “hold” rating for the company in a report on Friday, May 2nd. Morgan Stanley dropped their target price on shares of Red Rock Resorts from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Truist Financial decreased their price target on shares of Red Rock Resorts from $56.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd. Susquehanna dropped their price objective on shares of Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating on the stock in a report on Wednesday, April 16th. Finally, JMP Securities reduced their target price on Red Rock Resorts from $59.00 to $55.00 and set a “market outperform” rating for the company in a research note on Thursday, April 17th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Red Rock Resorts currently has a consensus rating of “Hold” and an average price target of $52.83.

Red Rock Resorts Stock Performance

Shares of RRR stock opened at $44.40 on Friday. 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 cap of $4.71 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 4.32 and a beta of 1.64. The business has a 50-day simple moving average of $42.79 and a 200-day simple moving average of $47.03.

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

Red Rock Resorts Announces Dividend

The company also recently declared an annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Wednesday, May 14th will be given a dividend of $1.00 per share. The ex-dividend date is Wednesday, May 14th. This represents a yield of 2.29%. Red Rock Resorts’s dividend payout ratio is presently 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.