Eagle Asset Management Inc. Trims Position in Red Rock Resorts Inc (NASDAQ:RRR)

Eagle Asset Management Inc. cut its position in Red Rock Resorts Inc (NASDAQ:RRR) by 4.6% in the third quarter, HoldingsChannel.com reports. The firm owned 435,746 shares of the company’s stock after selling 21,247 shares during the quarter. Eagle Asset Management Inc.’s holdings in Red Rock Resorts were worth $8,847,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bamco Inc. NY increased its stake in shares of Red Rock Resorts by 4.3% in the second quarter. Bamco Inc. NY now owns 9,543,154 shares of the company’s stock worth $204,987,000 after purchasing an additional 391,359 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of Red Rock Resorts by 5.8% in the third quarter. Diamond Hill Capital Management Inc. now owns 7,283,512 shares of the company’s stock worth $147,892,000 after purchasing an additional 399,811 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Red Rock Resorts by 2.0% in the second quarter. Vanguard Group Inc. now owns 6,415,097 shares of the company’s stock worth $137,796,000 after purchasing an additional 123,695 shares in the last quarter. Cohen & Steers Inc. increased its stake in shares of Red Rock Resorts by 16.6% in the second quarter. Cohen & Steers Inc. now owns 4,267,738 shares of the company’s stock worth $91,671,000 after purchasing an additional 607,780 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Red Rock Resorts by 9.6% in the second quarter. JPMorgan Chase & Co. now owns 4,129,439 shares of the company’s stock worth $88,329,000 after purchasing an additional 362,197 shares in the last quarter. 66.11% of the stock is owned by hedge funds and other institutional investors.

In other Red Rock Resorts news, Director Frank J. Fertitta III acquired 555,149 shares of the stock in a transaction on Friday, August 23rd. The stock was acquired at an average price of $19.30 per share, for a total transaction of $10,714,375.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lorenzo J. Fertitta acquired 75,000 shares of the stock in a transaction on Thursday, August 15th. The shares were acquired at an average price of $14.17 per share, with a total value of $1,062,750.00. In the last 90 days, insiders have purchased 1,027,509 shares of company stock valued at $19,197,896. 40.19% of the stock is owned by company insiders.

Shares of NASDAQ:RRR opened at $21.64 on Tuesday. The company has a debt-to-equity ratio of 3.85, a quick ratio of 0.90 and a current ratio of 0.96. The firm has a fifty day moving average price of $21.02 and a 200 day moving average price of $21.74. Red Rock Resorts Inc has a fifty-two week low of $16.76 and a fifty-two week high of $29.80. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 29.08 and a beta of 2.08.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.85%. Red Rock Resorts’s dividend payout ratio is 30.53%.

A number of analysts have recently issued reports on the stock. Union Gaming Research cut shares of Red Rock Resorts from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $25.00 to $22.00 in a research note on Wednesday, November 6th. ValuEngine lowered shares of Red Rock Resorts from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Deutsche Bank restated a “buy” rating and set a $25.00 target price on shares of Red Rock Resorts in a research report on Wednesday, November 6th. Stifel Nicolaus set a $22.00 target price on shares of Red Rock Resorts and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Finally, Nomura dropped their target price on shares of Red Rock Resorts from $36.00 to $26.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $25.57.

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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Institutional Ownership by Quarter for Red Rock Resorts (NASDAQ:RRR)

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