Oregon Public Employees Retirement Fund Takes Position in Red Rock Resorts, Inc. $RRR

Oregon Public Employees Retirement Fund purchased a new position in Red Rock Resorts, Inc. (NASDAQ:RRR) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 11,129 shares of the company’s stock, valued at approximately $689,000.

Several other large investors have also recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership raised its stake in Red Rock Resorts by 2,248.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,354,644 shares of the company’s stock valued at $82,715,000 after buying an additional 1,296,956 shares during the last quarter. Vanguard Group Inc. raised its stake in Red Rock Resorts by 6.7% during the 3rd quarter. Vanguard Group Inc. now owns 5,564,421 shares of the company’s stock valued at $339,764,000 after buying an additional 349,822 shares during the last quarter. UBS Group AG raised its stake in Red Rock Resorts by 205.1% during the 4th quarter. UBS Group AG now owns 476,311 shares of the company’s stock valued at $29,507,000 after buying an additional 320,175 shares during the last quarter. Voloridge Investment Management LLC increased its position in shares of Red Rock Resorts by 556.5% during the 3rd quarter. Voloridge Investment Management LLC now owns 334,610 shares of the company’s stock valued at $20,431,000 after purchasing an additional 283,642 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its position in shares of Red Rock Resorts by 53.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 793,371 shares of the company’s stock valued at $41,279,000 after purchasing an additional 277,426 shares during the last quarter. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Trading Down 1.0%

Shares of RRR opened at $51.59 on Wednesday. The company has a debt-to-equity ratio of 14.42, a current ratio of 0.81 and a quick ratio of 0.76. Red Rock Resorts, Inc. has a 1 year low of $44.28 and a 1 year high of $68.99. The company has a 50 day simple moving average of $55.58 and a two-hundred day simple moving average of $58.78. The firm has a market cap of $5.42 billion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 3.50 and a beta of 1.35.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.17). The firm had revenue of $507.32 million for the quarter, compared to analysts’ expectations of $505.63 million. Red Rock Resorts had a net margin of 9.21% and a return on equity of 61.67%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.75 EPS. On average, equities analysts expect that Red Rock Resorts, Inc. will post 1.73 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.0%. Red Rock Resorts’s dividend payout ratio (DPR) is 33.44%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on RRR shares. Morgan Stanley set a $59.00 price target on shares of Red Rock Resorts in a research report on Wednesday, May 6th. Citizens Jmp reduced their price target on shares of Red Rock Resorts from $71.00 to $67.00 and set a “market outperform” rating for the company in a research report on Thursday, April 30th. Truist Financial reduced their price objective on Red Rock Resorts from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Citigroup reduced their price objective on Red Rock Resorts from $76.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Finally, Wells Fargo & Company reduced their price objective on Red Rock Resorts from $59.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday, April 30th. Twelve investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $67.67.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.