BI Asset Management Fondsmaeglerselskab A S Increases Position in Red Rock Resorts, Inc. $RRR

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in Red Rock Resorts by 54.8% in the fourth quarter, bringing its holdings to 125,800 shares valued at about $7.8 million.
• Red Rock Resorts shares were up 1.2% to $57.39, and the company currently has a market cap of $6.03 billion with a price-to-earnings ratio of 18.45.
• The company reported Q1 earnings of $0.73 per share, below expectations of $0.90, though revenue slightly beat forecasts at $507.32 million and rose 1.9% year over year.

BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 54.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 125,800 shares of the company's stock after purchasing an additional 44,546 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.12% of Red Rock Resorts worth $7,793,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Salomon & Ludwin LLC purchased a new stake in shares of Red Rock Resorts in the 4th quarter worth approximately $25,000. GAMMA Investing LLC boosted its stake in Red Rock Resorts by 53.8% in the 4th quarter. GAMMA Investing LLC now owns 752 shares of the company's stock worth $47,000 after purchasing an additional 263 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Red Rock Resorts by 98.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,474 shares of the company's stock worth $91,000 after purchasing an additional 733 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Red Rock Resorts in the 2nd quarter worth about $94,000. Finally, Russell Investments Group Ltd. boosted its stake in Red Rock Resorts by 1,385.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,872 shares of the company's stock worth $97,000 after purchasing an additional 1,746 shares in the last quarter. Hedge funds and other institutional investors own 47.84% of the company's stock.

Red Rock Resorts Trading Up 1.2%

Red Rock Resorts stock opened at $57.39 on Friday. The firm has a 50 day moving average of $55.10 and a 200 day moving average of $58.78. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of 18.45, a P/E/G ratio of 4.35 and a beta of 1.36. Red Rock Resorts, Inc. has a 12-month low of $47.56 and a 12-month high of $68.99. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 14.42.

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 firm had revenue of $507.32 million during the quarter, compared to analysts' expectations of $505.63 million. Red Rock Resorts had a return on equity of 61.67% and a net margin of 9.21%.The company's revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.75 earnings per share. As a group, research analysts predict that Red Rock Resorts, Inc. will post 1.53 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Monday, June 15th. Red Rock Resorts's dividend payout ratio is currently 33.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Mizuho set a $77.00 price target on shares of Red Rock Resorts in a research note on Wednesday, February 11th. Citizens Jmp lowered their target price on shares of Red Rock Resorts from $71.00 to $67.00 and set a "market outperform" rating on the stock in a research note on Thursday, April 30th. Susquehanna lowered their target price on shares of Red Rock Resorts from $77.00 to $70.00 and set a "positive" rating on the stock in a research note on Thursday, April 30th. Citigroup lowered their target price on shares of Red Rock Resorts from $76.00 to $62.00 and set a "buy" rating on the stock in a research note on Friday, May 1st. Finally, Jefferies Financial Group lowered their target price on shares of Red Rock Resorts from $79.00 to $74.00 and set a "buy" rating on the stock in a research note on Monday, April 6th. Twelve analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $67.53.

Red Rock Resorts 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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