12,602 Shares in Red Rock Resorts, Inc. (NASDAQ:RRR) Acquired by Cary Street Partners Financial LLC

Key Points

• Cary Street Partners Financial LLC acquired a new stake in Red Rock Resorts, purchasing 12,602 shares valued at approximately $547,000 during the 1st quarter.
• Insider trading was notable as CFO Stephen Lawrence Cootey sold 121,400 shares, reflecting a 31.81% decline in his position, indicating significant activity among company executives.
• Red Rock Resorts reported a strong quarterly earnings of $0.95 per share, significantly beating analyst expectations, and announced a dividend of $0.25 per share, further enhancing its financial appeal.

Cary Street Partners Financial LLC bought a new stake in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,602 shares of the company's stock, valued at approximately $547,000.

A number of other institutional investors have also recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co boosted its position in shares of Red Rock Resorts by 3.0% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 10,662 shares of the company's stock worth $492,000 after purchasing an additional 314 shares during the period. Mayfair Advisory Group LLC boosted its position in Red Rock Resorts by 8.1% during 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 period. Nisa Investment Advisors LLC lifted its position in Red Rock Resorts by 3.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 15,651 shares of the company's stock valued at $679,000 after purchasing an additional 456 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Red Rock Resorts by 47.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company's stock worth $95,000 after acquiring an additional 664 shares during the period. Finally, Sterling Capital Management LLC raised its holdings in Red Rock Resorts by 654.7% in the 4th quarter. Sterling Capital Management LLC now owns 883 shares of the company's stock valued at $41,000 after buying an additional 766 shares during the last quarter. Institutional investors and hedge funds own 47.84% of the company's stock.

Red Rock Resorts Stock Performance

RRR traded down $0.30 during trading hours on Friday, reaching $56.29. The company's stock had a trading volume of 616,686 shares, compared to its average volume of 893,094. Red Rock Resorts, Inc. has a 52 week low of $35.09 and a 52 week high of $62.00. The firm has a market cap of $5.97 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 2.27 and a beta of 1.66. The company has a debt-to-equity ratio of 11.28, a quick ratio of 0.84 and a current ratio of 0.89. The company's 50-day moving average is $53.54 and its 200-day moving average is $48.45.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.40 by $0.55. Red Rock Resorts had a return on equity of 59.97% and a net margin of 8.89%. The company had revenue of $526.27 million during the quarter, compared to analyst estimates of $485.44 million. During the same quarter last year, the business posted $0.59 earnings per share. The firm's revenue was up 8.2% on a year-over-year basis. On average, equities 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 declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 1.8%. Red Rock Resorts's payout ratio is currently 34.01%.

Analyst Ratings Changes

RRR has been the subject of several analyst reports. Stifel Nicolaus set a $60.00 price target on Red Rock Resorts and gave the company a "hold" rating in a report on Wednesday, July 30th. Susquehanna reissued a "positive" rating and issued a $68.00 target price (up from $65.00) on shares of Red Rock Resorts in a research report on Wednesday, July 30th. Morgan Stanley upped their price target on shares of Red Rock Resorts from $49.00 to $53.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Macquarie reissued an "outperform" rating and set a $58.00 target price on shares of Red Rock Resorts in a research note on Friday, May 2nd. Finally, Citigroup reissued an "outperform" rating on shares of Red Rock Resorts in a research note on Friday, July 18th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $60.73.

Insider Buying and Selling at Red Rock Resorts

In related news, CFO Stephen Lawrence Cootey sold 121,400 shares of Red Rock Resorts stock in a transaction on Friday, August 1st. The shares were 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 in the company, valued at $15,626,490.72. This trade represents a 31.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey T. Welch sold 56,653 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $60.23, for a total transaction of $3,412,210.19. Following the transaction, the executive vice president owned 314,767 shares in the company, valued at approximately $18,958,416.41. This trade represents a 15.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. 53.28% of the stock is owned by insiders.

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.