Red Rock Resorts, Inc. (NASDAQ:RRR) Shares Sold by Man Group plc

Man Group plc reduced its position in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 89.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 12,587 shares of the company's stock after selling 101,452 shares during the period. Man Group plc's holdings in Red Rock Resorts were worth $582,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Long Pond Capital LP lifted its stake in Red Rock Resorts by 142.5% during the fourth quarter. Long Pond Capital LP now owns 1,474,153 shares of the company's stock worth $68,165,000 after purchasing an additional 866,320 shares during the last quarter. Bamco Inc. NY lifted its position in Red Rock Resorts by 6.9% during the fourth quarter. Bamco Inc. NY now owns 11,356,201 shares of the company's stock valued at $525,111,000 after buying an additional 732,917 shares during the period. Eminence Capital LP boosted its position in shares of Red Rock Resorts by 36.1% in the 4th quarter. Eminence Capital LP now owns 2,056,588 shares of the company's stock worth $95,097,000 after purchasing an additional 546,047 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Red Rock Resorts by 167.6% during the 4th 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 in the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in Red Rock Resorts by 20.6% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,344,058 shares of the company's stock worth $62,149,000 after buying an additional 229,843 shares in the last quarter. Hedge funds and other institutional investors own 47.84% of the company's stock.

Wall Street Analysts Forecast Growth

RRR has been the topic of several analyst reports. Morgan Stanley lowered their target price on Red Rock Resorts from $45.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Mizuho lowered their target price on Red Rock Resorts from $52.00 to $50.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Truist Financial decreased their price objective on Red Rock Resorts from $56.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Barclays dropped their price target on shares of Red Rock Resorts from $58.00 to $54.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Stifel Nicolaus decreased their target price on Red Rock Resorts from $54.00 to $44.00 and set a "hold" rating for the company in a research report on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $52.64.

Red Rock Resorts Stock Performance

RRR stock traded down $0.16 during midday trading on Friday, reaching $48.68. The stock had a trading volume of 65,393 shares, compared to its average volume of 581,722. The firm has a fifty day simple moving average of $43.42 and a two-hundred day simple moving average of $46.49. Red Rock Resorts, Inc. has a 52-week low of $35.09 and a 52-week 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 stock has a market cap of $5.16 billion, a PE ratio of 19.37, a P/E/G ratio of 4.32 and a beta of 1.64.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last announced 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 firm had revenue of $497.86 million during the quarter, compared to analysts' expectations of $499.12 million. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. The company's revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period last year, the business posted $0.68 earnings per share. As a group, equities research analysts anticipate that Red Rock Resorts, Inc. will post 1.76 EPS for the current year.

Red Rock Resorts Dividend Announcement

The firm also recently disclosed an annual dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $1.00 dividend. This represents a dividend yield of 2.29%. The ex-dividend date is Monday, June 16th. Red Rock Resorts's dividend payout ratio (DPR) is currently 38.76%.

Red Rock Resorts Company 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.