Cerity Partners LLC Lowers Stake in Red Rock Resorts, Inc. (NASDAQ:RRR)

Cerity Partners LLC cut its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR) by 0.6% during the first quarter, HoldingsChannel reports. The firm owned 73,074 shares of the company’s stock after selling 420 shares during the period. Cerity Partners LLC’s holdings in Red Rock Resorts were worth $3,169,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. GAMMA Investing LLC raised its stake in shares of Red Rock Resorts by 7,978.4% during the first quarter. GAMMA Investing LLC now owns 8,240 shares of the company’s stock worth $357,000 after purchasing an additional 8,138 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in Red Rock Resorts by 19.2% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,602,368 shares of the company’s stock valued at $69,494,000 after buying an additional 258,310 shares during the period. SG Americas Securities LLC acquired a new position in Red Rock Resorts in the 1st quarter valued at $750,000. KBC Group NV raised its position in Red Rock Resorts by 44.6% during the 1st quarter. KBC Group NV now owns 2,887 shares of the company’s stock worth $125,000 after buying an additional 891 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of Red Rock Resorts by 47.4% in the 4th quarter. Deutsche Bank AG now owns 41,788 shares of the company’s stock worth $1,932,000 after acquiring an additional 13,441 shares during the period. 47.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on RRR. Susquehanna lowered their target price 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. Mizuho upgraded shares of Red Rock Resorts from a “neutral” rating to an “outperform” rating and set a $50.00 price objective for the company in a research report on Monday, June 2nd. Stifel Nicolaus dropped their target price on Red Rock Resorts from $54.00 to $44.00 and set a “hold” rating on the stock in a research report on Friday, May 2nd. JPMorgan Chase & Co. started coverage on Red Rock Resorts in a research note on Monday, June 23rd. They set an “overweight” rating and a $62.00 target price for the company. Finally, Citigroup reissued an “outperform” rating on shares of Red Rock Resorts in a report on Friday. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.45.

Red Rock Resorts Trading Down 0.9%

Shares of Red Rock Resorts stock opened at $54.88 on Friday. The company has a 50-day moving average of $50.75 and a two-hundred day moving average of $47.27. Red Rock Resorts, Inc. has a 12-month low of $35.09 and a 12-month high of $61.08. The company has a current ratio of 0.92, a quick ratio of 0.87 and a debt-to-equity ratio of 9.04. The stock has a market cap of $5.82 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 3.62 and a beta of 1.62.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.33. Red Rock Resorts had a return on equity of 56.45% and a net margin of 8.01%. The business 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 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. On average, research analysts anticipate that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The company also recently announced an annual dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a $1.00 dividend. This represents a yield of 2.29%. The ex-dividend date of this dividend was Monday, June 16th. Red Rock Resorts’s dividend payout ratio (DPR) is 38.76%.

About Red Rock Resorts

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.