Ameriprise Financial Inc. trimmed its holdings in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 98.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,654 shares of the company's stock after selling 274,002 shares during the quarter. Ameriprise Financial Inc.'s holdings in Red Rock Resorts were worth $261,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the business. Arizona State Retirement System raised its stake in Red Rock Resorts by 1.5% in the 4th quarter. Arizona State Retirement System now owns 14,707 shares of the company's stock valued at $680,000 after purchasing an additional 216 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in Red Rock Resorts by 3.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 10,662 shares of the company's stock valued at $492,000 after purchasing an additional 314 shares during the last quarter. KBC Group NV raised its stake in Red Rock Resorts by 37.1% in the 4th quarter. KBC Group NV now owns 1,996 shares of the company's stock valued at $92,000 after purchasing an additional 540 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Red Rock Resorts by 47.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company's stock valued at $95,000 after purchasing an additional 664 shares during the last quarter. Finally, Sterling Capital Management LLC raised its stake in Red Rock Resorts by 654.7% in the 4th quarter. Sterling Capital Management LLC now owns 883 shares of the company's stock valued at $41,000 after purchasing an additional 766 shares during the last quarter. 47.84% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
RRR has been the subject of several recent research reports. Macquarie reissued an "outperform" rating and issued a $58.00 price objective on shares of Red Rock Resorts in a research note on Friday, May 2nd. Truist Financial dropped their target price on Red Rock Resorts from $56.00 to $45.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Stifel Nicolaus dropped their target price on Red Rock Resorts from $54.00 to $44.00 and set a "hold" rating for the company in a report on Friday, May 2nd. JMP Securities dropped their target price on Red Rock Resorts from $59.00 to $55.00 and set a "market outperform" rating for the company in a report on Thursday, April 17th. Finally, Susquehanna dropped their target price on Red Rock Resorts from $61.00 to $52.00 and set a "positive" rating for the company in a report on Wednesday, April 16th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Red Rock Resorts presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.64.
Read Our Latest Research Report on RRR
Red Rock Resorts Trading Down 1.9%
Shares of NASDAQ:RRR traded down $0.93 during midday trading on Monday, reaching $49.11. 608,227 shares of the company's stock were exchanged, compared to its average volume of 585,273. The firm's 50 day simple moving average is $44.20 and its two-hundred day simple moving average is $46.37. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. The stock has a market cap of $5.21 billion, a price-to-earnings ratio of 19.57, a P/E/G ratio of 4.32 and a beta of 1.61. Red Rock Resorts, Inc. has a fifty-two week low of $35.09 and a fifty-two week high of $61.73.
Red Rock Resorts (NASDAQ:RRR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.33. The firm 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%. The company's quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the company earned $0.68 EPS. As a group, sell-side analysts forecast that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.
Red Rock Resorts Announces Dividend
The firm also recently disclosed 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%.
About Red Rock Resorts
(
Free Report)
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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