111 Capital Purchases New Shares in Red Rock Resorts, Inc. $RRR

Key Points

• 111 Capital acquired 6,765 shares of Red Rock Resorts, Inc. valued at approximately $352,000 in the second quarter, as reported in its latest SEC filing.
• Red Rock Resorts recently declared a quarterly dividend of $0.25 per share, which indicates an annualized dividend yield of 1.7%.
• Analysts have raised their price targets for Red Rock Resorts, with Zacks upgrading it to a "strong-buy" rating and average target prices now ranging up to $68.00.

111 Capital acquired a new position in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 6,765 shares of the company's stock, valued at approximately $352,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in RRR. Ameritas Advisory Services LLC bought a new position in shares of Red Rock Resorts during the second quarter worth approximately $42,000. Pandora Wealth Inc. acquired a new stake in Red Rock Resorts during the first quarter worth approximately $43,000. US Bancorp DE increased its stake in Red Rock Resorts by 1,664.4% during the 1st quarter. US Bancorp DE now owns 1,041 shares of the company's stock worth $45,000 after acquiring an additional 982 shares during the period. New Age Alpha Advisors LLC acquired a new position in Red Rock Resorts in the 1st quarter valued at $89,000. Finally, PNC Financial Services Group Inc. raised its holdings in Red Rock Resorts by 51.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,854 shares of the company's stock valued at $124,000 after acquiring an additional 965 shares in the last quarter. Institutional investors and hedge funds own 47.84% of the company's stock.

Insider Transactions at Red Rock Resorts

In related news, COO Kord Nichols sold 42,325 shares of Red Rock Resorts stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $58.61, for a total value of $2,480,668.25. Following the transaction, the chief operating officer directly owned 129,361 shares of the company's stock, valued at $7,581,848.21. The trade was a 24.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey T. Welch sold 56,653 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $60.23, for a total transaction of $3,412,210.19. Following the completion of the transaction, the executive vice president owned 314,767 shares in the company, valued at approximately $18,958,416.41. The trade was a 15.25% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 262,703 shares of company stock worth $15,764,672. Company insiders own 53.81% of the company's stock.

Red Rock Resorts Stock Performance

NASDAQ RRR opened at $59.46 on Tuesday. The firm's fifty day moving average price is $60.54 and its two-hundred day moving average price is $52.05. The stock has a market cap of $6.27 billion, a PE ratio of 20.22, a PEG ratio of 2.44 and a beta of 1.47. The company has a debt-to-equity ratio of 11.28, a quick ratio of 0.84 and a current ratio of 0.89. Red Rock Resorts, Inc. has a fifty-two week low of $35.09 and a fifty-two week high of $63.60.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.40 by $0.55. The firm had revenue of $526.27 million during the quarter, compared to the consensus estimate of $485.44 million. Red Rock Resorts had a return on equity of 59.97% and a net margin of 8.89%.The business's quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the company earned $0.59 earnings per share. On average, equities analysts expect that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.7%. Red Rock Resorts's dividend payout ratio (DPR) is presently 34.01%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Zacks Research raised Red Rock Resorts from a "hold" rating to a "strong-buy" rating in a report on Monday, September 15th. Barclays upped their price objective on shares of Red Rock Resorts from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Susquehanna restated a "positive" rating and issued a $68.00 target price (up from $65.00) on shares of Red Rock Resorts in a research report on Wednesday, July 30th. Truist Financial raised shares of Red Rock Resorts from a "hold" rating to a "buy" rating and upped their price target for the stock from $45.00 to $67.00 in a report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. began coverage on shares of Red Rock Resorts in a research note on Monday, June 23rd. They issued an "overweight" rating and a $62.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $60.82.

Red Rock Resorts Profile

Red Rock Resorts, Inc, through its interest in Station Casinos LLC, develops and operates casino and entertainment properties in the United States. The company owns and operates gaming and entertainment facilities, including Durango Casino & Resort and smaller casinos in the Las Vegas regional market.

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