Northern Trust Corp Has $23.55 Million Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

Northern Trust Corp lessened its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 509,341 shares of the company’s stock after selling 18,396 shares during the quarter. Northern Trust Corp owned 0.48% of Red Rock Resorts worth $23,552,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Sterling Capital Management LLC increased its holdings in shares of Red Rock Resorts by 654.7% in the fourth quarter. Sterling Capital Management LLC now owns 883 shares of the company’s stock valued at $41,000 after purchasing an additional 766 shares during the last quarter. KBC Group NV grew its position in shares of Red Rock Resorts by 37.1% in 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 last quarter. Tower Research Capital LLC TRC increased its stake in shares of Red Rock Resorts by 47.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company’s stock worth $95,000 after purchasing an additional 664 shares during the period. Mayfair Advisory Group LLC boosted its stake in Red Rock Resorts by 15.1% in the 4th 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 during the period. Finally, Cibc World Markets Corp acquired a new stake in shares of Red Rock Resorts during the fourth quarter worth $213,000. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Stock Up 5.7%

Shares of NASDAQ:RRR opened at $46.92 on Tuesday. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02. Red Rock Resorts, Inc. has a 52-week low of $35.09 and a 52-week high of $61.73. The company has a market capitalization of $4.98 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 4.32 and a beta of 1.64. The company has a fifty day moving average of $42.77 and a 200-day moving average of $46.94.

Red Rock Resorts (NASDAQ:RRR) last posted its earnings results on Thursday, May 1st. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.47 by $0.33. The firm 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%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the company earned $0.68 earnings per share. On average, equities analysts predict that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The firm also recently announced 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 of this dividend is Wednesday, May 14th. This represents a yield of 2.29%. Red Rock Resorts’s dividend payout ratio is presently 38.76%.

Analysts Set New Price Targets

Several research firms recently commented on RRR. JMP Securities decreased their price target on shares of Red Rock Resorts from $59.00 to $55.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 17th. Macquarie reiterated an “outperform” rating and set a $58.00 target price on shares of Red Rock Resorts in a research report on Friday, May 2nd. Truist Financial cut their price objective on shares of 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. Mizuho decreased their target price on shares of Red Rock Resorts from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. Finally, Barclays cut their price target on shares of Red Rock Resorts from $58.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $52.83.

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.