Gerald Baker Financial Group LLC Makes New $798,000 Investment in Red Rock Resorts, Inc. $RRR

Gerald Baker Financial Group LLC acquired a new position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 14,964 shares of the company’s stock, valued at approximately $798,000.

Several other institutional investors and hedge funds also recently made changes to their positions in RRR. Salomon & Ludwin LLC acquired a new stake in Red Rock Resorts during the 4th quarter worth approximately $25,000. Kestra Advisory Services LLC acquired a new position in Red Rock Resorts in the 4th quarter valued at $27,000. Rockefeller Capital Management L.P. grew its holdings in Red Rock Resorts by 1,924.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company’s stock valued at $31,000 after buying an additional 481 shares in the last quarter. GAMMA Investing LLC increased its position in Red Rock Resorts by 53.8% during the 4th quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock worth $47,000 after buying an additional 263 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in Red Rock Resorts by 98.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,474 shares of the company’s stock worth $91,000 after buying an additional 733 shares during the period. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Price Performance

RRR stock opened at $66.73 on Friday. The company’s 50-day moving average price is $59.71 and its two-hundred day moving average price is $59.63. The firm has a market cap of $7.01 billion, a P/E ratio of 21.46, a P/E/G ratio of 4.96 and a beta of 1.35. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 14.42. Red Rock Resorts, Inc. has a 12 month low of $50.52 and a 12 month high of $68.99.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results 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 the consensus estimate of $505.63 million. Red Rock Resorts had a return on equity of 61.67% and a net margin of 9.21%.The business’s revenue was up 1.9% on a year-over-year basis. During the same period last year, the company posted $0.75 EPS. On average, analysts anticipate that Red Rock Resorts, Inc. will post 1.53 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, June 15th. This represents a $1.04 annualized dividend and a yield of 1.6%. Red Rock Resorts’s dividend payout ratio is presently 33.44%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RRR. Citizens Jmp reduced their target price 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. Stifel Nicolaus set a $70.00 price target on shares of Red Rock Resorts in a research report on Friday, May 29th. UBS Group set a $75.00 price objective on shares of Red Rock Resorts in a research note on Thursday, July 2nd. The Goldman Sachs Group reissued a “buy” rating and issued a $73.00 price objective on shares of Red Rock Resorts in a report on Wednesday. Finally, Barclays increased their target price on shares of Red Rock Resorts from $65.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Fourteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.81.

Red Rock Resorts 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.