21,500 Shares in Red Rock Resorts, Inc. $RRR Bought by Louisiana State Employees Retirement System

Key Points

• Louisiana State Employees Retirement System opened a new position in Red Rock Resorts, buying 21,500 shares worth about $1.15 million in the first quarter.
• Institutional ownership remains significant, with multiple firms adding to their holdings and institutions collectively owning 47.84% of the stock.
• Analysts are mixed but generally positive: Red Rock Resorts has a Moderate Buy consensus, though recent estimates were trimmed and the company’s last quarter missed EPS expectations despite slightly beating revenue forecasts.

Louisiana State Employees Retirement System acquired a new stake in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,500 shares of the company's stock, valued at approximately $1,147,000.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of Red Rock Resorts by 53.8% in the 4th quarter. GAMMA Investing LLC now owns 752 shares of the company's stock valued at $47,000 after buying an additional 263 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Red Rock Resorts by 3.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,383 shares of the company's stock worth $643,000 after acquiring an additional 324 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Red Rock Resorts by 0.7% in the second quarter. California State Teachers Retirement System now owns 46,720 shares of the company's stock worth $2,431,000 after acquiring an additional 343 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in shares of Red Rock Resorts by 3.9% in the third quarter. CANADA LIFE ASSURANCE Co now owns 10,022 shares of the company's stock worth $628,000 after acquiring an additional 378 shares during the period. Finally, Osaic Holdings Inc. boosted its holdings in Red Rock Resorts by 14.8% in the second quarter. Osaic Holdings Inc. now owns 2,996 shares of the company's stock valued at $149,000 after acquiring an additional 387 shares during the last quarter. 47.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on RRR shares. Wall Street Zen lowered shares of Red Rock Resorts from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Weiss Ratings lowered shares of Red Rock Resorts from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, June 25th. UBS Group set a $75.00 price objective on shares of Red Rock Resorts in a research report on Thursday. Jefferies Financial Group reissued a "buy" rating on shares of Red Rock Resorts in a research note on Thursday. Finally, Citigroup dropped their target price on shares of Red Rock Resorts from $76.00 to $62.00 and set a "buy" rating on the stock in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $67.94.

Red Rock Resorts Price Performance

Red Rock Resorts stock opened at $65.60 on Friday. The stock has a market capitalization of $6.89 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 4.97 and a beta of 1.35. Red Rock Resorts, Inc. has a 52-week low of $50.52 and a 52-week high of $68.99. The stock's 50 day moving average price is $57.84 and its two-hundred day moving average price is $59.52. The company has a debt-to-equity ratio of 14.42, a quick ratio of 0.76 and a current ratio of 0.81.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.73 earnings per share 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 company had revenue of $507.32 million during the quarter, compared to the consensus estimate of $505.63 million. During the same quarter in the prior year, the firm earned $0.75 EPS. The business's revenue was up 1.9% compared to the same quarter last year. On average, equities analysts predict that Red Rock Resorts, Inc. will post 1.53 earnings per share 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 issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Monday, June 15th. Red Rock Resorts's dividend payout ratio (DPR) is presently 33.44%.

About Red Rock Resorts

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.

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