Red Rock Resorts (NASDAQ:RRR) President Scott Kreeger Sells 31,159 Shares of Stock

Red Rock Resorts, Inc. (NASDAQ:RRR) President Scott Kreeger sold 31,159 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $61.78, for a total transaction of $1,925,003.02. Following the completion of the sale, the president owned 203,881 shares in the company, valued at approximately $12,595,768.18. This trade represents a 13.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Red Rock Resorts Stock Down 1.0%

Shares of RRR stock traded down $0.59 during trading hours on Monday, hitting $61.29. 722,620 shares of the company’s stock traded hands, compared to its average volume of 723,343. The stock’s fifty day simple moving average is $62.98 and its two-hundred day simple moving average is $59.82. Red Rock Resorts, Inc. has a 12-month low of $50.52 and a 12-month high of $68.99. The stock has a market cap of $6.44 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 4.58 and a beta of 1.36. 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 (NASDAQ:RRR) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.16. The firm had revenue of $510.26 million for the quarter, compared to analysts’ expectations of $500.08 million. Red Rock Resorts had a return on equity of 55.65% and a net margin of 8.43%.The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.95 EPS. On average, analysts expect that Red Rock Resorts, Inc. will post 1.5 EPS for the current year.

Red Rock Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Red Rock Resorts’s payout ratio is 36.75%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RRR. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in Red Rock Resorts in the 2nd quarter worth approximately $120,743,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of 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 period. Invesco Ltd. lifted its holdings in shares of Red Rock Resorts by 345.6% during the 4th quarter. Invesco Ltd. now owns 1,054,086 shares of the company’s stock valued at $65,301,000 after buying an additional 817,524 shares during the period. Wellington Management Group LLP bought a new position in shares of Red Rock Resorts during the 4th quarter valued at $45,724,000. Finally, State Street Corp boosted its stake in shares of Red Rock Resorts by 62.1% in the 4th quarter. State Street Corp now owns 1,814,812 shares of the company’s stock worth $112,428,000 after buying an additional 695,575 shares during the last quarter. 47.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on RRR. Zacks Research downgraded Red Rock Resorts from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. Jefferies Financial Group reiterated a “buy” rating on shares of Red Rock Resorts in a research note on Thursday, July 2nd. Susquehanna reduced their price objective on shares of Red Rock Resorts from $77.00 to $70.00 and set a “positive” rating for the company in a research note on Thursday, April 30th. Citigroup reaffirmed a “buy” rating on shares of Red Rock Resorts in a report on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Red Rock Resorts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. 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 stock. According to data from MarketBeat.com, Red Rock Resorts presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.88.

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.