13,076 Shares in Red Rock Resorts, Inc. $RRR Acquired by EntryPoint Capital LLC

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 first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 13,076 shares of the company's stock, valued at approximately $567,000.

Several other hedge funds and other institutional investors have also made changes to their positions in RRR. Wells Fargo & Company MN increased its stake in shares of Red Rock Resorts by 16.2% during the fourth quarter. Wells Fargo & Company MN now owns 34,520 shares of the company's stock worth $1,596,000 after buying an additional 4,822 shares during the period. Envestnet Asset Management Inc. grew its holdings in Red Rock Resorts by 250.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 14,437 shares of the company's stock worth $668,000 after acquiring an additional 10,312 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Red Rock Resorts in the 4th quarter valued at approximately $292,000. Sterling Capital Management LLC raised its holdings in shares of 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 purchasing an additional 766 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Red Rock Resorts by 15.2% in the 4th quarter. Barclays PLC now owns 90,909 shares of the company's stock valued at $4,204,000 after purchasing an additional 11,977 shares in the last quarter. Hedge funds and other institutional investors own 47.84% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on RRR shares. Morgan Stanley boosted their target price on shares of Red Rock Resorts from $49.00 to $53.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Citigroup reaffirmed an "outperform" rating on shares of Red Rock Resorts in a research report on Friday, July 18th. JPMorgan Chase & Co. initiated coverage on Red Rock Resorts in a research report on Monday, June 23rd. They set an "overweight" rating and a $62.00 target price on the stock. Susquehanna restated a "positive" rating and set a $68.00 target price (up previously from $65.00) on shares of Red Rock Resorts in a research note on Wednesday, July 30th. Finally, Barclays upped their price target on Red Rock Resorts from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $60.73.

Insider Activity at Red Rock Resorts

In other Red Rock Resorts news, COO Kord Nichols sold 42,325 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $58.61, for a total value of $2,480,668.25. Following the sale, the chief operating officer owned 129,361 shares of the company's stock, valued at approximately $7,581,848.21. This represents a 24.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stephen Lawrence Cootey sold 121,400 shares of Red Rock Resorts stock in a transaction on Friday, August 1st. The stock was sold at an average price of $60.04, for a total value of $7,288,856.00. Following the transaction, the chief financial officer directly owned 260,268 shares of the company's stock, valued at $15,626,490.72. This trade represents a 31.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 225,628 shares of company stock valued at $13,501,984 in the last ninety days. Corporate insiders own 53.81% of the company's stock.

Red Rock Resorts Stock Performance

NASDAQ RRR traded up $1.64 on Friday, hitting $61.44. 792,542 shares of the company's stock were exchanged, compared to its average volume of 949,099. The firm has a market cap of $6.48 billion, a price-to-earnings ratio of 20.90, a P/E/G ratio of 2.48 and a beta of 1.66. The firm's 50-day moving average price is $55.70 and its two-hundred day moving average price is $49.26. Red Rock Resorts, Inc. has a fifty-two week low of $35.09 and a fifty-two week high of $62.00. The company has a debt-to-equity ratio of 11.28, a current ratio of 0.89 and a quick ratio of 0.84.

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

Red Rock Resorts Announces Dividend

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

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.