Diamond Hill Capital Management Inc. Sells 432,042 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Diamond Hill Capital Management Inc. lowered its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 10.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and 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 3.59% of Red Rock Resorts worth $165,195,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Sterling Capital Management LLC grew its stake in Red Rock Resorts by 654.7% in the 4th quarter. Sterling Capital Management LLC now owns 883 shares of the company's stock worth $41,000 after buying an additional 766 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Red Rock Resorts by 47.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company's stock worth $95,000 after buying an additional 664 shares in the last quarter. KBC Group NV grew its stake in Red Rock Resorts by 44.6% in the 1st quarter. KBC Group NV now owns 2,887 shares of the company's stock worth $125,000 after buying an additional 891 shares in the last quarter. Mayfair Advisory Group LLC grew its stake in Red Rock Resorts by 8.1% in the 1st quarter. Mayfair Advisory Group LLC now owns 4,861 shares of the company's stock worth $211,000 after buying an additional 364 shares in the last quarter. Finally, Cibc World Markets Corp purchased a new position in Red Rock Resorts in the 4th quarter worth approximately $213,000. Hedge funds and other institutional investors own 47.84% of the company's stock.

Red Rock Resorts Trading Up 2.7%

NASDAQ:RRR traded up $1.41 during midday trading on Friday, reaching $54.20. 496,909 shares of the stock traded hands, compared to its average volume of 779,828. The company has a fifty day moving average of $51.44 and a 200 day moving average of $47.60. Red Rock Resorts, Inc. has a 12 month low of $35.09 and a 12 month high of $58.83. The company has a debt-to-equity ratio of 9.04, a quick ratio of 0.87 and a current ratio of 0.92. The stock has a market capitalization of $5.75 billion, a P/E ratio of 21.01, a PEG ratio of 3.54 and a beta of 1.62.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.33. Red Rock Resorts had a net margin of 8.01% and a return on equity of 56.45%. The company had revenue of $497.86 million during the quarter, compared to analyst estimates of $499.12 million. During the same period in the prior year, the business posted $0.68 EPS. The firm's revenue was up 1.8% compared to the same quarter last year. On average, research analysts predict that Red Rock Resorts, Inc. will post 1.76 EPS for the current year.

Red Rock Resorts Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Monday, June 16th. This represents a yield of 2.29%. Red Rock Resorts's dividend payout ratio is currently 38.76%.

Analyst Ratings Changes

A number of research firms have commented on RRR. Barclays boosted their price target on shares of Red Rock Resorts from $54.00 to $62.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Truist Financial raised shares of Red Rock Resorts from a "hold" rating to a "buy" rating and boosted their price target for the stock from $45.00 to $67.00 in a research note on Wednesday, July 16th. Citigroup restated an "outperform" rating on shares of Red Rock Resorts in a report on Friday, July 18th. Susquehanna boosted their price objective on shares of Red Rock Resorts from $52.00 to $65.00 and gave the stock a "positive" rating in a report on Thursday. Finally, Mizuho upgraded shares of Red Rock Resorts from a "neutral" rating to an "outperform" rating and set a $50.00 price objective for the company in a report on Monday, June 2nd. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Red Rock Resorts currently has an average rating of "Moderate Buy" and an average target price 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.