Bank of New York Mellon Corp Has $16.86 Million Stock Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

Bank of New York Mellon Corp cut its position in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 2.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC lifted 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 period. Vaughan Nelson Investment Management L.P. raised its holdings in Red Rock Resorts by 19.2% during 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 buying an additional 258,310 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Red Rock Resorts in the 1st quarter worth $750,000. KBC Group NV grew its stake in shares of Red Rock Resorts by 44.6% in the 1st quarter. KBC Group NV now owns 2,887 shares of the company's stock worth $125,000 after acquiring an additional 891 shares in the last quarter. Finally, Deutsche Bank AG grew its position in Red Rock Resorts by 47.4% during the fourth quarter. Deutsche Bank AG now owns 41,788 shares of the company's stock valued at $1,932,000 after buying an additional 13,441 shares during the period. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Red Rock Resorts Price Performance

RRR traded down $0.23 during trading on Tuesday, reaching $54.26. 683,704 shares of the stock were exchanged, compared to its average volume of 626,199. Red Rock Resorts, Inc. has a 1 year low of $35.09 and a 1 year high of $61.08. The company has a market capitalization of $5.75 billion, a price-to-earnings ratio of 21.03, a P/E/G ratio of 3.56 and a beta of 1.62. The business's 50 day moving average price is $50.75 and its two-hundred day moving average price is $47.30. 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 issued its earnings results on Thursday, May 1st. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.33. Red Rock Resorts had a return on equity of 56.45% and a net margin of 8.01%. The company had revenue of $497.86 million during the quarter, compared to the consensus estimate of $499.12 million. During the same quarter in the prior year, the business earned $0.68 earnings per share. The company's revenue was up 1.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current year.

Red Rock Resorts Announces Dividend

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

Wall Street Analysts Forecast Growth

RRR has been the topic of a number of recent analyst reports. Barclays raised their target price on shares of Red Rock Resorts from $54.00 to $62.00 and gave the company an "overweight" rating in a research note on Friday. Truist Financial upgraded shares of Red Rock Resorts from a "hold" rating to a "buy" rating and lifted their price target for the company from $45.00 to $67.00 in a report on Wednesday, July 16th. Mizuho upgraded shares of Red Rock Resorts from a "neutral" rating to an "outperform" rating and set a $50.00 target price on the stock in a report on Monday, June 2nd. Macquarie reiterated an "outperform" rating and issued a $58.00 price target on shares of Red Rock Resorts in a research note on Friday, May 2nd. Finally, JMP Securities boosted their target price on Red Rock Resorts from $55.00 to $57.00 and gave the stock a "market outperform" rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $55.45.

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.