Charles Schwab Investment Management Inc. Sells 25,402 Shares of Red Rock Resorts, Inc. $RRR

Key Points

• Charles Schwab Investment Management Inc. decreased its stake in Red Rock Resorts by 4.1% during the first quarter, selling 25,402 shares and now owning 595,749 shares valued at approximately $25.8 million.
• Institutional investors collectively hold 47.84% of Red Rock Resorts' stock, with new investments and significant increases in holdings from companies like Sterling Capital Management and US Bancorp DE.
• Red Rock Resorts recently reported $0.95 earnings per share for the last quarter, surpassing expectations significantly, and also announced a quarterly dividend of $0.25, which reflects a 1.7% dividend yield.

Charles Schwab Investment Management Inc. trimmed its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 4.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 595,749 shares of the company's stock after selling 25,402 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.56% of Red Rock Resorts worth $25,838,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in RRR. Bamco Inc. NY grew its stake in shares of Red Rock Resorts by 6.9% during the fourth quarter. Bamco Inc. NY now owns 11,356,201 shares of the company's stock valued at $525,111,000 after purchasing an additional 732,917 shares during the last quarter. Eminence Capital LP grew its stake in shares of Red Rock Resorts by 36.1% during the fourth quarter. Eminence Capital LP now owns 2,056,588 shares of the company's stock valued at $95,097,000 after purchasing an additional 546,047 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of 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 valued at $69,494,000 after purchasing an additional 258,310 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Red Rock Resorts by 3.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,225,188 shares of the company's stock valued at $56,653,000 after purchasing an additional 38,620 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Red Rock Resorts by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 500,365 shares of the company's stock valued at $23,138,000 after purchasing an additional 9,918 shares during the last quarter. 47.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

RRR has been the topic of several research analyst reports. Susquehanna reissued a "positive" rating and set a $68.00 price target (up from $65.00) on shares of Red Rock Resorts in a research note on Wednesday, July 30th. JMP Securities increased their price target on shares of Red Rock Resorts from $57.00 to $64.00 and gave the company a "market outperform" rating in a research note on Wednesday, July 30th. Barclays increased their price target on shares of Red Rock Resorts from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Citigroup reissued an "outperform" rating on shares of Red Rock Resorts in a research note on Friday, July 18th. Finally, Macquarie restated an "outperform" rating and issued a $58.00 price objective on shares of Red Rock Resorts in a report on Friday, May 2nd. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.73.

Insider Buying and Selling

In related news, EVP Jeffrey T. Welch sold 56,653 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $60.23, for a total transaction of $3,412,210.19. Following the sale, the executive vice president directly owned 314,767 shares in the company, valued at $18,958,416.41. This trade represents a 15.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Kord Nichols sold 37,075 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $61.03, for a total transaction of $2,262,687.25. Following the completion of the transaction, the chief operating officer directly owned 87,036 shares of the company's stock, valued at approximately $5,311,807.08. This trade represents a 29.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 262,703 shares of company stock worth $15,764,672 over the last ninety days. Company insiders own 53.28% of the company's stock.

Red Rock Resorts Stock Up 1.0%

Shares of NASDAQ:RRR traded up $0.64 during midday trading on Tuesday, reaching $62.57. 578,574 shares of the company were exchanged, compared to its average volume of 968,867. Red Rock Resorts, Inc. has a fifty-two week low of $35.09 and a fifty-two week high of $62.61. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 11.28. The stock has a fifty day simple moving average of $56.18 and a two-hundred day simple moving average of $49.44. The firm has a market cap of $6.60 billion, a PE ratio of 21.28, a P/E/G ratio of 2.50 and a beta of 1.66.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.55. Red Rock Resorts had a net margin of 8.89% and a return on equity of 59.97%. The business had revenue of $526.27 million for the quarter, compared to analyst estimates of $485.44 million. During the same period last year, the business posted $0.59 earnings per share. The firm's quarterly revenue was up 8.2% on a year-over-year basis. As a group, sell-side analysts forecast that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Monday, September 15th. Red Rock Resorts's dividend payout ratio (DPR) is presently 34.01%.

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.