Fmr LLC increased its holdings in shares of Red Rock Resorts Inc (NASDAQ:RRR) by 28.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,613,546 shares of the company’s stock after buying an additional 573,066 shares during the period. Fmr LLC’s holdings in Red Rock Resorts were worth $53,081,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Diamond Hill Capital Management Inc. grew its position in Red Rock Resorts by 10.6% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 6,572,518 shares of the company’s stock worth $133,488,000 after purchasing an additional 629,672 shares during the last quarter. Vanguard Group Inc. grew its position in Red Rock Resorts by 9.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,469,688 shares of the company’s stock worth $172,417,000 after purchasing an additional 552,550 shares during the last quarter. Vanguard Group Inc grew its position in Red Rock Resorts by 9.3% in the 3rd quarter. Vanguard Group Inc now owns 6,469,688 shares of the company’s stock worth $172,417,000 after purchasing an additional 552,550 shares during the last quarter. Cohen & Steers Inc. grew its position in Red Rock Resorts by 2.9% in the 4th quarter. Cohen & Steers Inc. now owns 5,919,209 shares of the company’s stock worth $120,219,000 after purchasing an additional 165,784 shares during the last quarter. Finally, BlackRock Inc. grew its position in Red Rock Resorts by 4.1% in the 3rd quarter. BlackRock Inc. now owns 4,761,350 shares of the company’s stock worth $126,890,000 after purchasing an additional 185,448 shares during the last quarter. Hedge funds and other institutional investors own 63.61% of the company’s stock.
Several research analysts have recently issued reports on RRR shares. BidaskClub upgraded shares of Red Rock Resorts from a “buy” rating to a “strong-buy” rating in a report on Friday, February 15th. Nomura increased their price objective on shares of Red Rock Resorts to $32.00 and gave the company a “buy” rating in a report on Wednesday, February 13th. Zacks Investment Research upgraded shares of Red Rock Resorts from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Deutsche Bank reiterated a “buy” rating and issued a $30.00 price objective on shares of Red Rock Resorts in a report on Wednesday, February 13th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $33.20.
In related news, insider Joseph J. Hasson sold 31,628 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $26.42, for a total transaction of $835,611.76. Following the completion of the sale, the insider now directly owns 13,921 shares in the company, valued at $367,792.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph J. Hasson sold 42,293 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $27.42, for a total transaction of $1,159,674.06. Following the sale, the insider now owns 58,921 shares of the company’s stock, valued at $1,615,613.82. The disclosure for this sale can be found here. Insiders sold 131,721 shares of company stock valued at $3,487,693 over the last quarter. Insiders own 0.40% of the company’s stock.
Red Rock Resorts stock opened at $27.87 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 3.45. The company has a market capitalization of $3.23 billion, a PE ratio of 21.27 and a beta of 2.15. Red Rock Resorts Inc has a 12-month low of $18.78 and a 12-month high of $36.99.
Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings data on Tuesday, February 12th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.01. The business had revenue of $431.47 million during the quarter, compared to analysts’ expectations of $408.61 million. Red Rock Resorts had a net margin of 9.37% and a return on equity of 12.06%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $0.35 earnings per share. As a group, sell-side analysts anticipate that Red Rock Resorts Inc will post 1.2 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 14th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Wednesday, March 13th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 30.53%.
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About Red Rock Resorts
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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