EntryPoint Capital LLC Buys New Position in Red Rock Resorts, Inc. $RRR

Key Points

• EntryPoint Capital LLC purchased 13,076 shares of Red Rock Resorts, valued at approximately $567,000, marking the firm’s new stake in the company during the first quarter.
• Red Rock Resorts recently declared a quarterly dividend of $0.25 per share, providing an annualized dividend yield of 1.7%, with the ex-dividend date set for September 15th.
• The company's stock has increased by 1.2% and has a market capitalization of $6.35 billion, with a recent quarterly earnings report showing an EPS of $0.95, exceeding analyst expectations.

EntryPoint Capital LLC purchased a new stake in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,076 shares of the company's stock, valued at approximately $567,000.

A number of other large investors have also recently added to or reduced their stakes in RRR. Bamco Inc. NY raised its stake 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 buying an additional 732,917 shares in the last quarter. Eminence Capital LP boosted its holdings 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 period. Vaughan Nelson Investment Management L.P. increased its stake in 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. Nuveen LLC bought a new stake in Red Rock Resorts during the first quarter valued at $11,025,000. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of Red Rock Resorts by 537.7% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 215,397 shares of the company's stock worth $9,960,000 after purchasing an additional 181,619 shares during the period. 47.84% of the stock is currently owned by institutional investors.

Red Rock Resorts Stock Performance

Red Rock Resorts stock traded up $0.4550 during mid-day trading on Monday, hitting $61.8950. 130,702 shares of the company's stock traded hands, compared to its average volume of 720,751. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 11.28. Red Rock Resorts, Inc. has a one year low of $35.09 and a one year high of $62.14. The firm has a 50 day moving average price of $55.70 and a 200 day moving average price of $49.26. The company has a market cap of $6.53 billion, a PE ratio of 21.06, a price-to-earnings-growth ratio of 2.48 and a beta of 1.66.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $485.44 million. During the same period last year, the company earned $0.59 earnings per share. The company's quarterly revenue was up 8.2% compared to the same quarter last year. On average, equities analysts forecast that Red Rock Resorts, Inc. will post 1.76 EPS for the current year.

Red Rock Resorts Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Red Rock Resorts from $49.00 to $53.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Barclays lifted their target price on 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 reaffirmed an "outperform" rating on shares of Red Rock Resorts in a report on Friday, July 18th. Stifel Nicolaus set a $60.00 price target on Red Rock Resorts and gave the stock a "hold" rating in a report on Wednesday, July 30th. Finally, Truist Financial upgraded Red Rock Resorts from a "hold" rating to a "buy" rating and upped their price objective for the stock from $45.00 to $67.00 in a research note on Wednesday, July 16th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Red Rock Resorts presently has an average rating of "Moderate Buy" and an average target price of $60.73.

Insiders Place Their Bets

In other news, COO Kord Nichols sold 5,250 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $61.00, for a total value of $320,250.00. Following the completion of the sale, the chief operating officer directly owned 124,111 shares of the company's stock, valued at approximately $7,570,771. This represents a 4.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Stephen Lawrence Cootey sold 121,400 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $60.04, for a total transaction of $7,288,856.00. Following the completion of the transaction, the chief financial officer owned 260,268 shares of the company's stock, valued at $15,626,490.72. This trade represents a 31.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 225,628 shares of company stock worth $13,501,984. 53.81% of the stock is owned by corporate insiders.

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.