Edgestream Partners L.P. Sells 28,744 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Edgestream Partners L.P. lessened its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 45.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,200 shares of the company's stock after selling 28,744 shares during the quarter. Edgestream Partners L.P.'s holdings in Red Rock Resorts were worth $1,527,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Sterling Capital Management LLC raised its holdings in shares of Red Rock Resorts by 654.7% during the fourth quarter. Sterling Capital Management LLC now owns 883 shares of the company's stock valued at $41,000 after purchasing an additional 766 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Red Rock Resorts by 47.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company's stock worth $95,000 after purchasing an additional 664 shares during the period. KBC Group NV lifted its holdings 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 purchasing an additional 891 shares in the last quarter. Mayfair Advisory Group LLC increased its position in shares of 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 acquiring an additional 364 shares in the last quarter. Finally, Cibc World Markets Corp bought a new position in Red Rock Resorts in the 4th quarter valued at about $213,000. 47.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on RRR. Barclays raised their price objective on shares of Red Rock Resorts from $54.00 to $62.00 and gave the stock an "overweight" rating in a report on Friday. Stifel Nicolaus cut their target price on Red Rock Resorts from $54.00 to $44.00 and set a "hold" rating for the company in a research note on Friday, May 2nd. JPMorgan Chase & Co. started coverage on shares of Red Rock Resorts in a report on Monday, June 23rd. They issued an "overweight" rating and a $62.00 price target for the company. JMP Securities upped their price objective on shares of Red Rock Resorts from $55.00 to $57.00 and gave the stock a "market outperform" rating in a research report on Friday. Finally, Morgan Stanley upped their price objective on Red Rock Resorts from $47.00 to $49.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $55.45.

Red Rock Resorts Stock Down 0.4%

Red Rock Resorts stock traded down $0.23 during mid-day trading on Tuesday, hitting $54.26. The company had a trading volume of 683,704 shares, compared to its average volume of 626,199. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 3.56 and a beta of 1.62. The company has a quick ratio of 0.87, a current ratio of 0.92 and a debt-to-equity ratio of 9.04. Red Rock Resorts, Inc. has a 1 year low of $35.09 and a 1 year high of $61.08. The business has a fifty day moving average of $50.75 and a 200 day moving average of $47.30.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $497.86 million for the quarter, compared to analysts' expectations of $499.12 million. During the same quarter in the prior year, the firm posted $0.68 EPS. The company's revenue was up 1.8% compared to the same quarter last year. On average, sell-side analysts expect that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

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

Red Rock Resorts 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.