Aristeia Capital L.L.C. Invests $204,000 in Red Rock Resorts, Inc. $RRR

Key Points

• Aristeia Capital L.L.C. has acquired a new stake in Red Rock Resorts, purchasing 4,701 shares valued at approximately $204,000.
• Red Rock Resorts recently reported strong quarterly earnings with $0.95 EPS, significantly exceeding the consensus estimate of $0.40, and had a revenue of $526.27 million.
• The company declared a quarterly dividend of $0.25 per share, with a current dividend yield of 1.6%, reflecting a payout ratio of 34.01%.

Aristeia Capital L.L.C. purchased a new stake in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,701 shares of the company's stock, valued at approximately $204,000.

A number of other large investors have also recently bought and sold shares of RRR. Pandora Wealth Inc. bought a new stake in Red Rock Resorts in the first quarter valued at $43,000. US Bancorp DE boosted its stake in Red Rock Resorts by 1,664.4% in the first quarter. US Bancorp DE now owns 1,041 shares of the company's stock worth $45,000 after purchasing an additional 982 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in Red Rock Resorts in the first quarter worth $89,000. PNC Financial Services Group Inc. boosted its stake in Red Rock Resorts by 51.1% in the first quarter. PNC Financial Services Group Inc. now owns 2,854 shares of the company's stock worth $124,000 after purchasing an additional 965 shares in the last quarter. Finally, KBC Group NV boosted its stake in Red Rock Resorts by 44.6% in the first quarter. KBC Group NV now owns 2,887 shares of the company's stock worth $125,000 after purchasing an additional 891 shares in the last quarter. 47.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Red Rock Resorts

In other Red Rock Resorts news, CFO Stephen Lawrence Cootey sold 121,400 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $60.04, for a total value of $7,288,856.00. Following the transaction, the chief financial officer owned 260,268 shares of the company's stock, valued at approximately $15,626,490.72. This represents a 31.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Kord Nichols sold 42,325 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $58.61, for a total value of $2,480,668.25. Following the completion of the transaction, the chief operating officer directly owned 129,361 shares in the company, valued at $7,581,848.21. The trade was a 24.65% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 262,703 shares of company stock valued at $15,764,672. 53.28% of the stock is currently owned by company insiders.

Red Rock Resorts Trading Down 0.5%

Red Rock Resorts stock traded down $0.33 during mid-day trading on Friday, hitting $61.34. The stock had a trading volume of 314,411 shares, compared to its average volume of 662,039. The stock has a 50-day simple moving average of $58.66 and a two-hundred day simple moving average of $50.37. The stock has a market capitalization of $6.47 billion, a PE ratio of 20.86, a P/E/G ratio of 2.48 and a beta of 1.46. Red Rock Resorts, Inc. has a 12 month low of $35.09 and a 12 month high of $63.60. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 11.28.

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

Red Rock Resorts Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have commented on RRR. Mizuho boosted their price objective on Red Rock Resorts from $59.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Citigroup reissued an "outperform" rating on shares of Red Rock Resorts in a research note on Friday, July 18th. JMP Securities boosted their price objective on Red Rock Resorts from $57.00 to $64.00 and gave the stock a "market outperform" rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. began coverage on 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. Finally, Morgan Stanley boosted their price objective on Red Rock Resorts from $49.00 to $53.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Red Rock Resorts presently has a consensus rating of "Moderate Buy" and an average price target of $60.73.

Red Rock Resorts Company 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.