Bessemer Group Inc. Has $4.35 Million Stock Position in Red Rock Resorts, Inc. $RRR

Bessemer Group Inc. lifted its stake in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 48.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 81,494 shares of the company's stock after purchasing an additional 26,600 shares during the period. Bessemer Group Inc. owned 0.08% of Red Rock Resorts worth $4,349,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Louisiana State Employees Retirement System acquired a new position in shares of Red Rock Resorts in the first quarter valued at approximately $1,147,000. UBS Group AG raised its holdings in shares of Red Rock Resorts by 205.1% during the fourth quarter. UBS Group AG now owns 476,311 shares of the company's stock worth $29,507,000 after acquiring an additional 320,175 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its position in Red Rock Resorts by 54.8% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 125,800 shares of the company's stock valued at $7,793,000 after acquiring an additional 44,546 shares in the last quarter. Legal & General Group Plc lifted its position in Red Rock Resorts by 147.9% in the 4th quarter. Legal & General Group Plc now owns 119,453 shares of the company's stock valued at $7,400,000 after acquiring an additional 71,274 shares in the last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in Red Rock Resorts in the 3rd quarter worth $15,114,000. 47.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RRR. Wells Fargo & Company upgraded Red Rock Resorts from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $55.00 to $75.00 in a report on Tuesday, July 14th. Weiss Ratings raised Red Rock Resorts from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, July 10th. Morgan Stanley set a $59.00 price objective on Red Rock Resorts in a report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $72.00 target price on shares of Red Rock Resorts in a research report on Thursday, April 30th. Finally, Zacks Research cut Red Rock Resorts from a "hold" rating to a "strong sell" rating in a research note on Wednesday, May 6th. Fourteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.24.

Red Rock Resorts Price Performance

NASDAQ:RRR opened at $64.94 on Tuesday. The company has a debt-to-equity ratio of 14.42, a quick ratio of 0.76 and a current ratio of 0.81. The stock's 50-day simple moving average is $60.16 and its 200 day simple moving average is $59.66. The company has a market cap of $6.82 billion, a P/E ratio of 20.88, a P/E/G ratio of 4.90 and a beta of 1.35. Red Rock Resorts, Inc. has a 52-week low of $50.52 and a 52-week high of $68.99.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.17). The company had revenue of $507.32 million for the quarter, compared to the consensus estimate of $505.63 million. Red Rock Resorts had a return on equity of 61.67% and a net margin of 9.21%.The business's revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.75 EPS. As a group, sell-side analysts forecast that Red Rock Resorts, Inc. will post 1.53 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, June 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.6%. Red Rock Resorts's dividend payout ratio is currently 33.44%.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc NASDAQ: RRR is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company's flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.

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