Gotham Asset Management LLC bought a new position in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 8,201 shares of the company's stock, valued at approximately $379,000.
Several other institutional investors have also recently made changes to their positions in RRR. Long Pond Capital LP grew its stake in shares of Red Rock Resorts by 142.5% in the 4th quarter. Long Pond Capital LP now owns 1,474,153 shares of the company's stock worth $68,165,000 after acquiring an additional 866,320 shares in the last quarter. Bamco Inc. NY boosted its holdings in shares of Red Rock Resorts by 6.9% in the 4th quarter. Bamco Inc. NY now owns 11,356,201 shares of the company's stock worth $525,111,000 after buying an additional 732,917 shares during the last quarter. Eminence Capital LP boosted its holdings in shares of Red Rock Resorts by 36.1% in the 4th quarter. Eminence Capital LP now owns 2,056,588 shares of the company's stock worth $95,097,000 after buying an additional 546,047 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Red Rock Resorts by 167.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 422,447 shares of the company's stock worth $19,534,000 after buying an additional 264,609 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Red Rock Resorts by 20.6% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,344,058 shares of the company's stock worth $62,149,000 after buying an additional 229,843 shares during the last quarter. Institutional investors own 47.84% of the company's stock.
Red Rock Resorts Price Performance
Shares of RRR stock traded down $0.19 during trading on Friday, hitting $47.00. The company had a trading volume of 726,031 shares, compared to its average volume of 579,599. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The stock's 50-day moving average is $43.11 and its two-hundred day moving average is $46.65. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 4.32 and a beta of 1.64. Red Rock Resorts, Inc. has a 52 week low of $35.09 and a 52 week high of $61.73.
Red Rock Resorts (NASDAQ:RRR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.33. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. The company had revenue of $497.86 million for the quarter, compared to analysts' expectations of $499.12 million. During the same period in the prior year, the business earned $0.68 earnings per share. Red Rock Resorts's revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, analysts predict that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.
Red Rock Resorts Announces Dividend
The firm also recently declared an annual dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $1.00 per share. This represents a yield of 2.29%. The ex-dividend date of this dividend is Monday, June 16th. Red Rock Resorts's payout ratio is currently 38.76%.
Wall Street Analyst Weigh In
Several research firms have commented on RRR. Morgan Stanley dropped their price objective on shares of Red Rock Resorts from $45.00 to $43.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Barclays dropped their price objective on shares of Red Rock Resorts from $58.00 to $54.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. JMP Securities dropped their price objective on shares of Red Rock Resorts from $59.00 to $55.00 and set a "market outperform" rating on the stock in a report on Thursday, April 17th. Macquarie reaffirmed an "outperform" rating and set a $58.00 price objective on shares of Red Rock Resorts in a report on Friday, May 2nd. Finally, Susquehanna dropped their price objective on shares of Red Rock Resorts from $61.00 to $52.00 and set a "positive" rating on the stock in a report on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $52.64.
Get Our Latest Stock Report on RRR
About Red Rock Resorts
(
Free Report)
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.
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