GAMMA Investing LLC Raises Stake in Red Rock Resorts, Inc. (NASDAQ:RRR)

GAMMA Investing LLC lifted its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 7,978.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,240 shares of the company's stock after buying an additional 8,138 shares during the period. GAMMA Investing LLC's holdings in Red Rock Resorts were worth $357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arizona State Retirement System boosted its stake in Red Rock Resorts by 1.5% during the fourth quarter. Arizona State Retirement System now owns 14,707 shares of the company's stock worth $680,000 after buying an additional 216 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in shares of Red Rock Resorts by 3.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 10,662 shares of the company's stock worth $492,000 after purchasing an additional 314 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Red Rock Resorts by 47.7% during the 4th 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. Sterling Capital Management LLC increased its holdings in 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 during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Red Rock Resorts by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,990 shares of the company's stock valued at $1,294,000 after purchasing an additional 1,064 shares during the period. Institutional investors and hedge funds own 47.84% of the company's stock.

Red Rock Resorts Stock Up 1.9%

Shares of NASDAQ RRR traded up $0.99 during mid-day trading on Tuesday, reaching $51.92. The company had a trading volume of 600,507 shares, compared to its average volume of 596,257. The firm has a 50 day simple moving average of $46.21 and a two-hundred day simple moving average of $46.34. Red Rock Resorts, Inc. has a 52-week low of $35.09 and a 52-week high of $61.73. The company has a current ratio of 0.92, a quick ratio of 0.87 and a debt-to-equity ratio of 9.04. The stock has a market cap of $5.51 billion, a P/E ratio of 20.12, a PEG ratio of 5.27 and a beta of 1.61.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $497.86 million for the quarter, compared to analyst estimates of $499.12 million. During the same quarter last year, the company posted $0.68 earnings per share. The business's quarterly revenue was up 1.8% compared to the same quarter last year. Sell-side analysts predict that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RRR. JPMorgan Chase & Co. began coverage on Red Rock Resorts in a research note on Monday. They issued an "overweight" rating and a $62.00 price objective for the company. Stifel Nicolaus reduced their price target on Red Rock Resorts from $54.00 to $44.00 and set a "hold" rating on the stock in a research report on Friday, May 2nd. Morgan Stanley lowered their price objective on Red Rock Resorts from $45.00 to $43.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Mizuho upgraded shares of Red Rock Resorts from a "neutral" rating to an "outperform" rating and set a $50.00 target price on the stock in a research note on Monday, June 2nd. Finally, Macquarie reiterated an "outperform" rating and issued a $58.00 price target on shares of Red Rock Resorts in a research note on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $52.00.

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.