Diamond Hill Capital Management Inc. Has $165.20 Million Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

Diamond Hill Capital Management Inc. lowered its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 10.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,808,961 shares of the company's stock after selling 432,042 shares during the period. Diamond Hill Capital Management Inc. owned approximately 3.59% of Red Rock Resorts worth $165,195,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Red Rock Resorts by 7,978.4% during the 1st quarter. GAMMA Investing LLC now owns 8,240 shares of the company's stock valued at $357,000 after acquiring an additional 8,138 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Red Rock Resorts by 19.2% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,602,368 shares of the company's stock valued at $69,494,000 after acquiring an additional 258,310 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Red Rock Resorts during the 1st quarter valued at $750,000. KBC Group NV grew its holdings in shares of Red Rock Resorts by 44.6% during the 1st quarter. KBC Group NV now owns 2,887 shares of the company's stock valued at $125,000 after acquiring an additional 891 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Red Rock Resorts by 47.4% during the 4th quarter. Deutsche Bank AG now owns 41,788 shares of the company's stock valued at $1,932,000 after acquiring an additional 13,441 shares in the last quarter. Hedge funds and other institutional investors own 47.84% of the company's stock.

Red Rock Resorts Stock Performance

Shares of NASDAQ RRR traded up $1.41 during trading hours on Friday, hitting $54.20. 496,909 shares of the stock were exchanged, compared to its average volume of 779,828. The company has a debt-to-equity ratio of 9.04, a current ratio of 0.92 and a quick ratio of 0.87. The company's 50 day moving average is $51.44 and its 200 day moving average is $47.58. The firm has a market capitalization of $5.75 billion, a P/E ratio of 21.01, a P/E/G ratio of 3.45 and a beta of 1.62. Red Rock Resorts, Inc. has a one year low of $35.09 and a one year high of $58.83.

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 (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.33. The business had revenue of $497.86 million during the quarter, compared to the consensus estimate of $499.12 million. Red Rock Resorts had a net margin of 8.01% and a return on equity of 56.45%. Red Rock Resorts's quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. On average, research analysts expect that Red Rock Resorts, Inc. will post 1.76 EPS for the current year.

Red Rock Resorts Dividend Announcement

The company also recently disclosed an annual dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a dividend of $1.00 per share. This represents a dividend yield of 2.29%. The ex-dividend date was Monday, June 16th. Red Rock Resorts's dividend payout ratio is currently 38.76%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RRR. Morgan Stanley boosted their price target on shares of Red Rock Resorts from $47.00 to $49.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. Barclays boosted their price target on shares of Red Rock Resorts from $54.00 to $62.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Susquehanna boosted their price target on shares of Red Rock Resorts from $52.00 to $65.00 and gave the company a "positive" rating in a report on Thursday. Macquarie restated an "outperform" rating and set a $58.00 price target on shares of Red Rock Resorts in a report on Friday, May 2nd. Finally, Stifel Nicolaus cut 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. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $56.64.

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.