Ameriprise Financial Inc. Sells 274,002 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Ameriprise Financial Inc. decreased its position in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 98.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,654 shares of the company's stock after selling 274,002 shares during the period. Ameriprise Financial Inc.'s holdings in Red Rock Resorts were worth $261,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Long Pond Capital LP lifted its stake in Red Rock Resorts by 142.5% in the fourth quarter. Long Pond Capital LP now owns 1,474,153 shares of the company's stock worth $68,165,000 after acquiring an additional 866,320 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Red Rock Resorts by 167.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 422,447 shares of the company's stock worth $19,534,000 after buying an additional 264,609 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in Red Rock Resorts by 20.6% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,344,058 shares of the company's stock worth $62,149,000 after buying an additional 229,843 shares during the last quarter. Norges Bank purchased a new position in Red Rock Resorts in the 4th quarter worth about $5,352,000. Finally, Trexquant Investment LP purchased a new stake in shares of Red Rock Resorts during the 4th quarter valued at about $5,273,000. Institutional investors own 47.84% of the company's stock.

Red Rock Resorts Trading Up 0.1%

Red Rock Resorts stock opened at $49.40 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. Red Rock Resorts, Inc. has a 52 week low of $35.09 and a 52 week high of $61.73. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 4.32 and a beta of 1.64. The stock has a 50-day moving average price of $43.92 and a 200 day moving average price of $46.43.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.33. The company had revenue of $497.86 million during the quarter, compared to the consensus estimate of $499.12 million. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. Red Rock Resorts's revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 earnings per share. Sell-side analysts anticipate that Red Rock Resorts, Inc. will post 1.76 EPS for the current year.

Red Rock Resorts Dividend Announcement

The company also recently declared an annual dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $1.00 per share. This represents a dividend yield of 2.29%. The ex-dividend date of this dividend is Monday, June 16th. Red Rock Resorts's payout ratio is 38.76%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on RRR shares. Barclays reduced their target price on shares of Red Rock Resorts from $58.00 to $54.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. JMP Securities lowered their target price on Red Rock Resorts from $59.00 to $55.00 and set a "market outperform" rating for the company in a research report on Thursday, April 17th. Macquarie restated an "outperform" rating and set a $58.00 price target on shares of Red Rock Resorts in a report on Friday, May 2nd. Stifel Nicolaus reduced their target price on Red Rock Resorts from $54.00 to $44.00 and set a "hold" rating on the stock in a research note on Friday, May 2nd. Finally, Mizuho upgraded Red Rock Resorts from a "neutral" rating to an "outperform" rating and set a $50.00 price target on the stock in a research note on Monday. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $52.64.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.