Rhumbline Advisers trimmed its holdings in shares of Red Rock Resorts Inc (NASDAQ:RRR) by 1.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 91,245 shares of the company’s stock after selling 1,221 shares during the quarter. Rhumbline Advisers owned 0.08% of Red Rock Resorts worth $2,359,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of RRR. Diamond Hill Capital Management Inc. boosted its position in Red Rock Resorts by 10.6% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 6,572,518 shares of the company’s stock worth $133,488,000 after acquiring an additional 629,672 shares during the last quarter. Cohen & Steers Inc. boosted its holdings in shares of Red Rock Resorts by 2.9% in the 4th quarter. Cohen & Steers Inc. now owns 5,919,209 shares of the company’s stock valued at $120,219,000 after buying an additional 165,784 shares during the last quarter. FMR LLC boosted its holdings in shares of Red Rock Resorts by 28.1% in the 4th quarter. FMR LLC now owns 2,613,546 shares of the company’s stock valued at $53,081,000 after buying an additional 573,066 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Red Rock Resorts by 12.9% in the 4th quarter. American Century Companies Inc. now owns 2,009,566 shares of the company’s stock valued at $40,814,000 after buying an additional 230,093 shares during the last quarter. Finally, Thrivent Financial for Lutherans acquired a new stake in Red Rock Resorts during the 4th quarter valued at $27,092,000. 61.82% of the stock is owned by institutional investors and hedge funds.
Red Rock Resorts stock traded up $0.48 during trading on Wednesday, hitting $20.88. 614,300 shares of the company were exchanged, compared to its average volume of 548,715. The firm has a 50 day simple moving average of $22.54. Red Rock Resorts Inc has a 52 week low of $18.78 and a 52 week high of $36.99. The company has a market capitalization of $2.44 billion, a P/E ratio of 15.94 and a beta of 2.27. The company has a debt-to-equity ratio of 3.52, a current ratio of 0.86 and a quick ratio of 0.82.
Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.16). Red Rock Resorts had a return on equity of 10.08% and a net margin of 6.89%. The business had revenue of $447.00 million during the quarter, compared to analysts’ expectations of $445.50 million. During the same period in the prior year, the firm posted $0.65 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. Equities analysts expect that Red Rock Resorts Inc will post 1 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.92%. Red Rock Resorts’s dividend payout ratio is presently 30.53%.
A number of research analysts recently commented on the company. BidaskClub upgraded Red Rock Resorts from a “strong sell” rating to a “sell” rating in a research report on Friday, June 14th. ValuEngine cut Red Rock Resorts from a “hold” rating to a “sell” rating in a research report on Saturday, June 1st. Telsey Advisory Group reiterated a “market perform” rating and issued a $26.00 target price (down previously from $28.00) on shares of Red Rock Resorts in a research report on Wednesday, May 1st. Wolfe Research began coverage on Red Rock Resorts in a research report on Friday, June 14th. They issued a “peer perform” rating on the stock. Finally, Zacks Investment Research upgraded Red Rock Resorts from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $30.29.
In other news, insider Joseph J. Hasson sold 12,891 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $23.24, for a total transaction of $299,586.84. Following the transaction, the insider now owns 12,891 shares of the company’s stock, valued at approximately $299,586.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.40% of the stock is owned by corporate insiders.
Red Rock Resorts Company Profile
Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.
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