Hsbc Holdings PLC Has $4.64 Million Holdings in Red Rock Resorts, Inc. $RRR

Hsbc Holdings PLC raised its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 168.3% in the first quarter, Holdings Channel reports. The fund owned 86,798 shares of the company’s stock after acquiring an additional 54,443 shares during the period. Hsbc Holdings PLC’s holdings in Red Rock Resorts were worth $4,642,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RRR shares. Susquehanna cut their price target on Red Rock Resorts from $77.00 to $70.00 and set a “positive” rating for the company in a report on Thursday, April 30th. Jefferies Financial Group reissued a “buy” rating on shares of Red Rock Resorts in a report on Thursday, July 2nd. Wells Fargo & Company upgraded shares of Red Rock Resorts from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $55.00 to $75.00 in a research report on Tuesday, July 14th. UBS Group set a $75.00 target price on shares of Red Rock Resorts in a research note on Thursday, July 2nd. Finally, Citizens Jmp reduced their target price on shares of Red Rock Resorts from $71.00 to $67.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 30th. Fourteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Red Rock Resorts has a consensus rating of “Moderate Buy” and a consensus price target of $71.24.

Red Rock Resorts Trading Up 1.8%

RRR opened at $63.92 on Friday. The firm’s fifty day moving average is $61.12 and its two-hundred day moving average is $59.72. The company has a debt-to-equity ratio of 14.42, a quick ratio of 0.76 and a current ratio of 0.81. The firm has a market cap of $6.71 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 4.61 and a beta of 1.35. Red Rock Resorts, Inc. has a twelve month low of $50.52 and a twelve month high of $68.99.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.17). Red Rock Resorts had a net margin of 9.21% and a return on equity of 61.67%. The business had revenue of $507.32 million during the quarter, compared to analyst estimates of $505.63 million. During the same quarter in the prior year, the firm posted $0.75 earnings per share. Red Rock Resorts’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities research analysts anticipate that Red Rock Resorts, Inc. will post 1.52 EPS for the current year.

Red Rock Resorts Announces Dividend

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

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.