AlphaQuest LLC Has $1.68 Million Stock Holdings in Red Rock Resorts, Inc. $RRR

Key Points

• AlphaQuest LLC significantly increased its stake in Red Rock Resorts, acquiring an additional 33,576 shares, raising its ownership to 38,819 shares valued at approximately $1.68 million.
• Red Rock Resorts reported strong earnings, with $0.95 EPS for the quarter, surpassing analysts' expectations by $0.55, and a revenue of $526.27 million, up 8.2% year-over-year.
• The company announced a quarterly dividend of $0.25, scheduled for payment on September 30th, representing a 1.6% dividend yield.

AlphaQuest LLC increased its holdings in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 640.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,819 shares of the company's stock after buying an additional 33,576 shares during the period. AlphaQuest LLC's holdings in Red Rock Resorts were worth $1,684,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of Red Rock Resorts by 7,978.4% during the 1st quarter. GAMMA Investing LLC now owns 8,240 shares of the company's stock valued at $357,000 after acquiring an additional 8,138 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in Red Rock Resorts by 19.2% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,602,368 shares of the company's stock valued at $69,494,000 after purchasing an additional 258,310 shares during the last quarter. SG Americas Securities LLC acquired a new position in Red Rock Resorts in the first quarter valued at about $750,000. Malaga Cove Capital LLC boosted its holdings in Red Rock Resorts by 85.3% during the first quarter. Malaga Cove Capital LLC now owns 24,783 shares of the company's stock worth $1,075,000 after buying an additional 11,406 shares during the last quarter. Finally, KBC Group NV grew its position in shares of Red Rock Resorts by 44.6% during the 1st quarter. KBC Group NV now owns 2,887 shares of the company's stock worth $125,000 after buying an additional 891 shares during the period. 47.84% of the stock is owned by institutional investors.

Insider Buying and Selling at Red Rock Resorts

In other news, EVP Jeffrey T. Welch sold 56,653 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $60.23, for a total value of $3,412,210.19. Following the completion of the transaction, the executive vice president owned 314,767 shares in the company, valued at $18,958,416.41. This trade represents a 15.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Kord Nichols sold 37,075 shares of Red Rock Resorts stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $61.03, for a total value of $2,262,687.25. Following the completion of the sale, the chief operating officer directly owned 87,036 shares in the company, valued at approximately $5,311,807.08. This represents a 29.87% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 262,703 shares of company stock worth $15,764,672. Insiders own 53.28% of the company's stock.

Red Rock Resorts Stock Up 0.6%

Shares of NASDAQ:RRR traded up $0.40 during mid-day trading on Wednesday, reaching $62.97. 891,729 shares of the stock were exchanged, compared to its average volume of 723,391. The stock's 50 day simple moving average is $56.18 and its 200-day simple moving average is $49.44. Red Rock Resorts, Inc. has a one year low of $35.09 and a one year high of $63.30. The company has a market cap of $6.64 billion, a P/E ratio of 21.42, a P/E/G ratio of 2.50 and a beta of 1.66. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 11.28.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates 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 revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.59 EPS. As a group, equities research analysts predict that Red Rock Resorts, Inc. will post 1.76 EPS for the current year.

Red Rock Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. Red Rock Resorts's dividend payout ratio (DPR) is 34.01%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Mizuho upped their price target on Red Rock Resorts from $59.00 to $62.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Citigroup reaffirmed an "outperform" rating on shares of Red Rock Resorts in a research note on Friday, July 18th. Barclays lifted their price target 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. Macquarie reaffirmed an "outperform" rating and set a $58.00 price objective on shares of Red Rock Resorts in a research note on Friday, May 2nd. Finally, Stifel Nicolaus set a $60.00 target price on Red Rock Resorts and gave the company a "hold" rating in a research note on Wednesday, July 30th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $60.73.

About Red Rock Resorts

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.