Trexquant Investment LP Has $10.72 Million Stake in Red Rock Resorts, Inc. $RRR

Key Points

• Trexquant Investment LP significantly increased its stake in Red Rock Resorts by 116.8% during the first quarter, owning 247,242 shares worth approximately $10.7 million.
• Several analysts have raised their price targets for Red Rock Resorts, with notable upgrades from Mizuho and Truist Financial, suggesting a strong performance outlook for the stock.
• Red Rock Resorts reported a surprise earnings beat with an EPS of $0.95 for the last quarter, surpassing analyst estimates by $0.55, and revenue increased by 8.2% year-over-year.

Trexquant Investment LP lifted its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 116.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 247,242 shares of the company's stock after buying an additional 133,208 shares during the quarter. Trexquant Investment LP owned about 0.23% of Red Rock Resorts worth $10,723,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its holdings in shares of Red Rock Resorts by 7,978.4% in the first quarter. GAMMA Investing LLC now owns 8,240 shares of the company's stock valued at $357,000 after purchasing an additional 8,138 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Red Rock Resorts by 19.2% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,602,368 shares of the company's stock valued at $69,494,000 after purchasing an additional 258,310 shares in the last quarter. SG Americas Securities LLC acquired a new position in Red Rock Resorts during the 1st quarter valued at about $750,000. Malaga Cove Capital LLC lifted its position 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 period. Finally, KBC Group NV lifted its position in 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 purchasing an additional 891 shares during the period. Institutional investors own 47.84% of the company's stock.

Red Rock Resorts Stock Up 0.9%

NASDAQ RRR traded up $0.56 during trading hours on Tuesday, reaching $62.43. 739,684 shares of the company's stock were exchanged, compared to its average volume of 722,651. The company's 50-day moving average is $57.12 and its two-hundred day moving average is $49.73. Red Rock Resorts, Inc. has a one year low of $35.09 and a one year high of $63.60. 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 company has a market capitalization of $6.59 billion, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 2.50 and a beta of 1.46.

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

Red Rock Resorts Announces Dividend

The firm also recently announced 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 yield of 1.6%. The ex-dividend date of this dividend is Monday, September 15th. Red Rock Resorts's dividend payout ratio is presently 34.01%.

Analyst Ratings Changes

RRR has been the topic of a number of research reports. Truist Financial upgraded shares of Red Rock Resorts from a "hold" rating to a "buy" rating and upped their target price for the company from $45.00 to $67.00 in a research report on Wednesday, July 16th. Mizuho upped their target price on shares of Red Rock Resorts from $59.00 to $62.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Stifel Nicolaus set a $60.00 target price on shares of Red Rock Resorts and gave the company a "hold" rating in a research report on Wednesday, July 30th. Morgan Stanley upped their target price on shares of Red Rock Resorts from $49.00 to $53.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. started coverage on Red Rock Resorts in a research note on Monday, June 23rd. They issued an "overweight" rating and a $62.00 target price on the stock. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Red Rock Resorts currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.73.

Insider Buying and Selling

In other Red Rock Resorts news, CFO Stephen Lawrence Cootey sold 121,400 shares of the business's stock in a transaction dated 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 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Kord Nichols sold 37,075 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $61.03, for a total value of $2,262,687.25. Following the completion of the transaction, the chief operating officer owned 87,036 shares of the company's stock, valued at $5,311,807.08. The trade was a 29.87% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 262,703 shares of company stock valued at $15,764,672. 53.28% of the stock is owned by corporate insiders.

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.