Bank of New York Mellon Corp Sells 9,091 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Bank of New York Mellon Corp reduced its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 2.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 388,680 shares of the company's stock after selling 9,091 shares during the quarter. Bank of New York Mellon Corp owned 0.37% of Red Rock Resorts worth $16,857,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Teacher Retirement System of Texas bought a new position in shares of Red Rock Resorts during the first quarter valued at about $321,000. KBC Group NV grew its stake in shares of 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 during the last quarter. Mayfair Advisory Group LLC grew its stake in shares of Red Rock Resorts by 8.1% in the first quarter. Mayfair Advisory Group LLC now owns 4,861 shares of the company's stock worth $211,000 after purchasing an additional 364 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of 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 worth $69,494,000 after purchasing an additional 258,310 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Red Rock Resorts in the first quarter worth about $750,000. 47.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RRR shares. Susquehanna cut their target price on Red Rock Resorts from $61.00 to $52.00 and set a "positive" rating on the stock in a research note on Wednesday, April 16th. JMP Securities lifted their price objective on Red Rock Resorts from $55.00 to $57.00 and gave the company a "market outperform" rating in a research report on Friday. JPMorgan Chase & Co. started coverage on Red Rock Resorts in a research report on Monday, June 23rd. They set an "overweight" rating and a $62.00 price objective on the stock. Citigroup reaffirmed an "outperform" rating on shares of Red Rock Resorts in a research report on Friday. Finally, Mizuho raised Red Rock Resorts from a "neutral" rating to an "outperform" rating and set a $50.00 price objective on the stock in a research report on Monday, June 2nd. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Red Rock Resorts has an average rating of "Moderate Buy" and a consensus price target of $55.45.

Red Rock Resorts Stock Down 0.9%

NASDAQ RRR traded down $0.49 during mid-day trading on Friday, reaching $54.88. The stock had a trading volume of 732,702 shares, compared to its average volume of 627,296. Red Rock Resorts, Inc. has a 1 year low of $35.09 and a 1 year high of $61.08. The stock has a market cap of $5.82 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 3.58 and a beta of 1.62. The company has a fifty day moving average price of $50.75 and a 200 day moving average price of $47.27. The company has a debt-to-equity ratio of 9.04, a current ratio of 0.92 and a quick ratio of 0.87.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.33. Red Rock Resorts had a net margin of 8.01% and a return on equity of 56.45%. The business had revenue of $497.86 million during the quarter, compared to the consensus estimate of $499.12 million. During the same quarter in the previous year, the firm posted $0.68 EPS. The firm's revenue was up 1.8% on a year-over-year basis. On average, research analysts expect that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The firm also recently disclosed an annual dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a dividend of $1.00 per share. This represents a dividend yield of 2.29%. The ex-dividend date was Monday, June 16th. Red Rock Resorts's payout ratio is 38.76%.

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.