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Lazard Asset Management LLC Lowers Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

Red Rock Resorts logo with Consumer Discretionary background

Lazard Asset Management LLC decreased its position in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 80.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,267 shares of the company's stock after selling 9,042 shares during the period. Lazard Asset Management LLC's holdings in Red Rock Resorts were worth $104,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of RRR. Barclays PLC lifted its holdings in Red Rock Resorts by 227.9% during the third quarter. Barclays PLC now owns 78,932 shares of the company's stock worth $4,297,000 after buying an additional 54,863 shares during the period. Avior Wealth Management LLC lifted its holdings in Red Rock Resorts by 11.8% during the fourth quarter. Avior Wealth Management LLC now owns 8,828 shares of the company's stock worth $408,000 after buying an additional 930 shares during the period. KBC Group NV lifted its holdings in Red Rock Resorts by 37.1% during the fourth quarter. KBC Group NV now owns 1,996 shares of the company's stock worth $92,000 after buying an additional 540 shares during the period. Hantz Financial Services Inc. lifted its holdings in Red Rock Resorts by 3.4% during the fourth quarter. Hantz Financial Services Inc. now owns 272,884 shares of the company's stock worth $12,618,000 after buying an additional 9,002 shares during the period. Finally, Entropy Technologies LP purchased a new stake in Red Rock Resorts during the fourth quarter worth $366,000. Hedge funds and other institutional investors own 47.84% of the company's stock.

Red Rock Resorts Stock Performance

Shares of NASDAQ RRR traded down $0.59 during mid-day trading on Thursday, hitting $48.95. The stock had a trading volume of 81,476 shares, compared to its average volume of 581,785. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02. The company has a 50 day moving average of $43.34 and a two-hundred day moving average of $46.52. Red Rock Resorts, Inc. has a twelve month low of $35.09 and a twelve month high of $61.73. The firm has a market cap of $5.19 billion, a PE ratio of 19.50, a PEG ratio of 4.32 and a beta of 1.64.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.33. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. The firm had revenue of $497.86 million for the quarter, compared to the consensus estimate of $499.12 million. During the same period in the prior year, the firm earned $0.68 EPS. The firm's revenue was up 1.8% on a year-over-year basis. Research analysts predict that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have weighed in on RRR shares. Mizuho lowered their target price on Red Rock Resorts from $52.00 to $50.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. 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. Susquehanna reduced their price target on Red Rock Resorts from $61.00 to $52.00 and set a "positive" rating on the stock in a research report on Wednesday, April 16th. Macquarie reaffirmed an "outperform" rating and set a $58.00 price target on shares of Red Rock Resorts in a research report on Friday, May 2nd. Finally, Truist Financial reduced their price target on Red Rock Resorts from $56.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $52.64.

Check Out Our Latest Stock Analysis on RRR

Red Rock Resorts Company Profile

(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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Institutional Ownership by Quarter for Red Rock Resorts (NASDAQ:RRR)

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