Red Rock Resorts, Inc. (NASDAQ:RRR) Shares Purchased by Millennium Management LLC

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

Several other hedge funds also recently added to or reduced their stakes in RRR. Long Pond Capital LP boosted its holdings in Red Rock Resorts by 142.5% in the fourth 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 last quarter. Bamco Inc. NY boosted its holdings in Red Rock Resorts by 6.9% in the fourth 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 last quarter. Eminence Capital LP boosted its holdings in Red Rock Resorts by 36.1% in the fourth 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 last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Red Rock Resorts by 167.6% in the fourth 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 last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in Red Rock Resorts by 20.6% in the fourth 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 last quarter. 47.84% of the stock is owned by hedge funds and other institutional investors.

Red Rock Resorts Price Performance

Shares of RRR traded down $0.59 during mid-day trading on Thursday, hitting $48.95. 81,476 shares of the company were exchanged, compared to its average volume of 581,785. Red Rock Resorts, Inc. has a 1-year low of $35.09 and a 1-year high of $61.73. 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 200-day moving average of $46.52. The stock has a market cap of $5.19 billion, a price-to-earnings ratio of 19.50, a price-to-earnings-growth ratio of 4.32 and a beta of 1.64.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $497.86 million during the quarter, compared to the consensus estimate of $499.12 million. During the same quarter in the prior year, the firm earned $0.68 EPS. The company's revenue for the quarter was up 1.8% on a year-over-year basis. Analysts expect that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

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. The ex-dividend date of this dividend is Monday, June 16th. This represents a dividend yield of 2.29%. Red Rock Resorts's dividend payout ratio (DPR) is presently 38.76%.

Wall Street Analyst Weigh In

RRR has been the topic of several recent research reports. Barclays lowered their price target 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. Morgan Stanley lowered their price target 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. Stifel Nicolaus lowered their price target on shares of Red Rock Resorts from $54.00 to $44.00 and set a "hold" rating on the stock in a report on Friday, May 2nd. Susquehanna lowered their target price on shares of Red Rock Resorts from $61.00 to $52.00 and set a "positive" rating on the stock in a research note on Wednesday, April 16th. Finally, Macquarie reissued an "outperform" rating and set a $58.00 target price on shares of Red Rock Resorts in a research note 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, the company currently has an average 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.