254,201 Shares in Red Rock Resorts, Inc. $RRR Acquired by Nuveen LLC

Key Points

• Nuveen LLC acquired 254,201 shares of Red Rock Resorts, Inc., valued at approximately $11,025,000, representing around 0.24% of the company's stock.
• Red Rock Resorts reported a quarterly earnings per share (EPS) of $0.95, significantly beating analysts' expectations, and its revenue rose by 8.2% year-over-year to $526.27 million.
• The company declared a quarterly dividend of $0.25, which represents an annualized yield of 1.6%, with a payout ratio of 34.01%.

Nuveen LLC bought a new stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 254,201 shares of the company's stock, valued at approximately $11,025,000. Nuveen LLC owned approximately 0.24% of Red Rock Resorts as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Pandora Wealth Inc. acquired a new stake in shares of Red Rock Resorts during the 1st quarter valued at about $43,000. Cary Street Partners Financial LLC acquired a new stake in shares of Red Rock Resorts during the 1st quarter valued at about $547,000. New Age Alpha Advisors LLC bought a new position in Red Rock Resorts during the 1st quarter valued at about $89,000. Malaga Cove Capital LLC lifted its holdings in Red Rock Resorts by 85.3% during the 1st quarter. Malaga Cove Capital LLC now owns 24,783 shares of the company's stock valued at $1,075,000 after purchasing an additional 11,406 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Red Rock Resorts by 51.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,854 shares of the company's stock valued at $124,000 after purchasing an additional 965 shares during the last quarter. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Red Rock Resorts Price Performance

Shares of NASDAQ RRR traded down $0.01 during trading on Thursday, reaching $62.96. The company had a trading volume of 689,998 shares, compared to its average volume of 903,891. Red Rock Resorts, Inc. has a 52 week low of $35.09 and a 52 week high of $63.60. The stock has a market cap of $6.64 billion, a PE ratio of 21.41, a PEG ratio of 2.54 and a beta of 1.66. The company has a debt-to-equity ratio of 11.28, a quick ratio of 0.84 and a current ratio of 0.89. The business's 50 day moving average price is $56.67 and its 200-day moving average price is $49.62.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.55. Red Rock Resorts had a net margin of 8.89% and a return on equity of 59.97%. The company had revenue of $526.27 million during the quarter, compared to the consensus estimate of $485.44 million. During the same period in the previous year, the firm posted $0.59 earnings per share. The company's revenue was up 8.2% on a year-over-year basis. Analysts expect that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, September 15th. Red Rock Resorts's payout ratio is 34.01%.

Analysts Set New Price Targets

Several brokerages recently issued reports on RRR. Stifel Nicolaus set a $60.00 price target on shares of Red Rock Resorts and gave the company a "hold" rating in a report on Wednesday, July 30th. Truist Financial raised shares of Red Rock Resorts from a "hold" rating to a "buy" rating and lifted their price target for the company from $45.00 to $67.00 in a report on Wednesday, July 16th. Barclays lifted their price target on shares of Red Rock Resorts from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Morgan Stanley lifted their price target on shares of Red Rock Resorts from $49.00 to $53.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Finally, Mizuho lifted their price target on shares of Red Rock Resorts from $59.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $60.73.

Insider Buying and Selling

In related news, CFO Stephen Lawrence Cootey sold 121,400 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $60.04, for a total transaction of $7,288,856.00. Following the completion of the sale, the chief financial officer directly owned 260,268 shares of the company's stock, valued at $15,626,490.72. The trade was a 31.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jeffrey T. Welch sold 56,653 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $60.23, for a total transaction of $3,412,210.19. Following the sale, the executive vice president directly owned 314,767 shares of the company's stock, valued at approximately $18,958,416.41. This trade represents a 15.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 262,703 shares of company stock valued at $15,764,672 over the last ninety days. Insiders own 53.81% of the company's stock.

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.