Millennium Management LLC Increases Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

Millennium Management LLC boosted its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 74.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 275,311 shares of the company's stock after buying an additional 117,199 shares during the period. Millennium Management LLC owned approximately 0.26% of Red Rock Resorts worth $12,730,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Long Pond Capital LP boosted its holdings in 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 valued at $68,165,000 after purchasing an additional 866,320 shares during the period. Bamco Inc. NY boosted its holdings in Red Rock Resorts by 6.9% in the 4th quarter. Bamco Inc. NY now owns 11,356,201 shares of the company's stock valued at $525,111,000 after purchasing an additional 732,917 shares during the period. Eminence Capital LP boosted its holdings in Red Rock Resorts by 36.1% in the 4th quarter. Eminence Capital LP now owns 2,056,588 shares of the company's stock valued at $95,097,000 after purchasing an additional 546,047 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Red Rock Resorts by 167.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 422,447 shares of the company's stock valued at $19,534,000 after purchasing an additional 264,609 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in 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 valued at $62,149,000 after purchasing an additional 229,843 shares during the period. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

Red Rock Resorts Trading Up 6.1%

Shares of NASDAQ:RRR traded up $2.85 during midday trading on Tuesday, hitting $49.85. 1,180,745 shares of the stock traded hands, compared to its average volume of 582,175. The stock has a market capitalization of $5.29 billion, a PE ratio of 19.86, a P/E/G ratio of 4.32 and a beta of 1.64. The business's 50 day moving average is $43.14 and its two-hundred day moving average is $46.47. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. Red Rock Resorts, Inc. has a one year low of $35.09 and a one year high of $61.73.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last announced its quarterly 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 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 quarter in the previous year, the company earned $0.68 earnings per share. Red Rock Resorts's quarterly revenue was up 1.8% on a year-over-year basis. As a group, research analysts forecast that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The business also recently declared an annual dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $1.00 per share. This represents a dividend 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

Several brokerages have commented on RRR. Mizuho cut their price target on shares of Red Rock Resorts from $52.00 to $50.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Macquarie reiterated an "outperform" rating and issued a $58.00 target price on shares of Red Rock Resorts in a research report on Friday, May 2nd. JMP Securities cut their target price on shares of Red Rock Resorts from $59.00 to $55.00 and set a "market outperform" rating for the company in a research report on Thursday, April 17th. Morgan Stanley cut their target price on shares of 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. Finally, Stifel Nicolaus cut their target price on shares of Red Rock Resorts from $54.00 to $44.00 and set a "hold" rating for the company in a research report on Friday, May 2nd. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Red Rock Resorts currently has a consensus rating of "Hold" and an average price target of $52.64.

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.