Man Group plc Sells 101,452 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Man Group plc lessened its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 89.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,587 shares of the company's stock after selling 101,452 shares during the quarter. Man Group plc's holdings in Red Rock Resorts were worth $582,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its position in Red Rock Resorts by 1.5% in the 4th quarter. Arizona State Retirement System now owns 14,707 shares of the company's stock valued at $680,000 after acquiring an additional 216 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Red Rock Resorts by 3.0% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 10,662 shares of the company's stock valued at $492,000 after purchasing an additional 314 shares during the last quarter. KBC Group NV lifted its stake in Red Rock Resorts by 37.1% in the fourth quarter. KBC Group NV now owns 1,996 shares of the company's stock valued at $92,000 after purchasing an additional 540 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Red Rock Resorts by 47.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company's stock valued at $95,000 after purchasing an additional 664 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its stake in Red Rock Resorts by 654.7% in the fourth quarter. Sterling Capital Management LLC now owns 883 shares of the company's stock valued at $41,000 after purchasing an additional 766 shares during the last quarter. Institutional investors and hedge funds own 47.84% of the company's stock.

Red Rock Resorts Stock Down 0.6%

RRR stock traded down $0.31 during midday trading on Wednesday, hitting $49.54. The stock had a trading volume of 953,803 shares, compared to its average volume of 583,668. Red Rock Resorts, Inc. has a 52-week low of $35.09 and a 52-week high of $61.73. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of 19.74, a price-to-earnings-growth ratio of 4.32 and a beta of 1.64. The business has a 50-day moving average of $43.24 and a two-hundred day moving average of $46.50. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.47 by $0.33. The business had revenue of $497.86 million for the quarter, compared to analyst estimates of $499.12 million. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. Red Rock Resorts's quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 earnings per share. As a group, equities research analysts forecast that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The firm also recently announced an annual dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $1.00 per share. The ex-dividend date is Monday, June 16th. This represents a yield of 2.29%. Red Rock Resorts's dividend payout ratio is 38.76%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RRR. Mizuho reduced their target price on Red Rock Resorts from $52.00 to $50.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Susquehanna cut their target price on shares of Red Rock Resorts from $61.00 to $52.00 and set a "positive" rating for the company in a research report on Wednesday, April 16th. Barclays reduced 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 research report on Tuesday, April 22nd. JMP Securities lowered their price target on shares of Red Rock Resorts from $59.00 to $55.00 and set a "market outperform" rating for the company in a research note on Thursday, April 17th. Finally, Truist Financial dropped their price objective on Red Rock Resorts from $56.00 to $45.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Red Rock Resorts currently has a consensus rating of "Hold" and a consensus 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.