Edgestream Partners L.P. Has $1.53 Million Stock Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

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

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Long Pond Capital LP boosted its holdings in shares of Red Rock Resorts by 142.5% during the 4th quarter. Long Pond Capital LP now owns 1,474,153 shares of the company's stock valued at $68,165,000 after acquiring an additional 866,320 shares during the last quarter. Bamco Inc. NY raised its position in 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 period. Eminence Capital LP lifted its stake in Red Rock Resorts by 36.1% in the fourth quarter. Eminence Capital LP now owns 2,056,588 shares of the company's stock worth $95,097,000 after purchasing an additional 546,047 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Red Rock Resorts by 167.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 422,447 shares of the company's stock worth $19,534,000 after purchasing an additional 264,609 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its position 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 worth $69,494,000 after acquiring an additional 258,310 shares during the period. 47.84% of the stock is currently owned by institutional investors.

Red Rock Resorts Trading Down 0.9%

NASDAQ RRR traded down $0.49 during mid-day trading on Friday, reaching $54.88. 732,702 shares of the stock were exchanged, compared to its average volume of 627,296. The stock has a market capitalization of $5.82 billion, a PE ratio of 21.27, a PEG ratio of 3.58 and a beta of 1.62. The company has a debt-to-equity ratio of 9.04, a quick ratio of 0.87 and a current ratio of 0.92. Red Rock Resorts, Inc. has a 1-year low of $35.09 and a 1-year high of $61.08. The business's fifty day simple moving average is $50.75 and its 200 day simple moving average is $47.28.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.47 by $0.33. Red Rock Resorts had a net margin of 8.01% and a return on equity of 56.45%. The firm had revenue of $497.86 million for the quarter, compared to analyst estimates of $499.12 million. During the same quarter last year, the firm posted $0.68 earnings per share. Red Rock Resorts's revenue for the quarter was up 1.8% compared to the same quarter last year. On average, research analysts anticipate that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

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

Analysts Set New Price Targets

RRR has been the topic of a number of recent analyst reports. Susquehanna cut their price target on shares of Red Rock Resorts from $61.00 to $52.00 and set a "positive" rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. assumed coverage on Red Rock Resorts in a research note on Monday, June 23rd. They issued an "overweight" rating and a $62.00 price objective for the company. Macquarie reiterated an "outperform" rating and issued a $58.00 target price on shares of Red Rock Resorts in a research report on Friday, May 2nd. Barclays raised their price target on shares of Red Rock Resorts from $54.00 to $62.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Truist Financial raised shares of Red Rock Resorts from a "hold" rating to a "buy" rating and upped their price objective for the company from $45.00 to $67.00 in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.45.

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.