State of New Jersey Common Pension Fund D Increases Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

State of New Jersey Common Pension Fund D boosted its stake in Red Rock Resorts, Inc. (NASDAQ:RRR) by 19.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,390 shares of the company’s stock after acquiring an additional 6,969 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Red Rock Resorts were worth $1,960,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. increased its stake in Red Rock Resorts by 20.6% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,344,058 shares of the company’s stock valued at $62,149,000 after buying an additional 229,843 shares during the period. Entropy Technologies LP acquired a new position in shares of Red Rock Resorts during the fourth quarter worth about $366,000. Hantz Financial Services Inc. increased its stake in shares of Red Rock Resorts by 3.4% during the fourth quarter. Hantz Financial Services Inc. now owns 272,884 shares of the company’s stock worth $12,618,000 after acquiring an additional 9,002 shares during the period. KBC Group NV raised its holdings in Red Rock Resorts by 37.1% during the fourth quarter. KBC Group NV now owns 1,996 shares of the company’s stock worth $92,000 after purchasing an additional 540 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its position in Red Rock Resorts by 11.8% in the fourth quarter. Avior Wealth Management LLC now owns 8,828 shares of the company’s stock valued at $408,000 after purchasing an additional 930 shares during the period. 47.84% of the stock is owned by hedge funds and other institutional investors.

Red Rock Resorts Stock Performance

Shares of RRR opened at $51.08 on Tuesday. The company has a 50-day moving average of $47.78 and a two-hundred day moving average of $51.21. The stock has a market cap of $5.40 billion, a P/E ratio of 20.35, a PEG ratio of 4.32 and a beta of 2.02. Red Rock Resorts, Inc. has a 12-month low of $42.46 and a 12-month high of $63.28. 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 data on Tuesday, February 11th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. As a group, research analysts predict that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Monday, March 17th. Red Rock Resorts’s dividend payout ratio is presently 39.84%.

Analyst Ratings Changes

Several equities analysts have issued reports on RRR shares. JMP Securities dropped their target price on Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating on the stock in a research report on Thursday, January 16th. Truist Financial dropped their price objective on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Macquarie reduced their target price on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Susquehanna upped their price target on shares of Red Rock Resorts from $60.00 to $61.00 and gave the stock a “positive” rating in a research note on Wednesday, February 12th. Finally, Stifel Nicolaus increased their price target on shares of Red Rock Resorts from $50.00 to $54.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $57.33.

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.