Red Rock Resorts, Inc. $RRR Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp boosted its stake in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 68,444.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,272 shares of the company's stock after buying an additional 34,222 shares during the quarter. Fifth Third Bancorp's holdings in Red Rock Resorts were worth $1,829,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in shares of Red Rock Resorts by 53.8% in the fourth quarter. GAMMA Investing LLC now owns 752 shares of the company's stock worth $47,000 after acquiring an additional 263 shares during the last quarter. Commonwealth Equity Services LLC increased its position in Red Rock Resorts by 3.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 10,383 shares of the company's stock worth $643,000 after purchasing an additional 324 shares in the last quarter. California State Teachers Retirement System raised its stake in Red Rock Resorts by 0.7% in the 2nd quarter. California State Teachers Retirement System now owns 46,720 shares of the company's stock valued at $2,431,000 after purchasing an additional 343 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in Red Rock Resorts by 3.9% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 10,022 shares of the company's stock valued at $628,000 after purchasing an additional 378 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in Red Rock Resorts by 14.8% in the 2nd quarter. Osaic Holdings Inc. now owns 2,996 shares of the company's stock valued at $149,000 after purchasing an additional 387 shares in the last quarter. Institutional investors and hedge funds own 47.84% of the company's stock.

Red Rock Resorts Stock Down 0.5%

Shares of Red Rock Resorts stock opened at $63.89 on Thursday. The company has a fifty day moving average price of $60.64 and a 200 day moving average price of $59.69. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 14.42. Red Rock Resorts, Inc. has a twelve month low of $50.52 and a twelve month high of $68.99. The stock has a market cap of $6.71 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 4.66 and a beta of 1.35.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.73 EPS for the quarter, missing analysts' consensus estimates of $0.90 by ($0.17). Red Rock Resorts had a return on equity of 61.67% and a net margin of 9.21%.The company had revenue of $507.32 million for the quarter, compared to analyst estimates of $505.63 million. During the same quarter in the prior year, the firm earned $0.75 EPS. The company's revenue for the quarter was up 1.9% compared to the same quarter last year. Equities research analysts forecast that Red Rock Resorts, Inc. will post 1.53 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Monday, June 15th. Red Rock Resorts's dividend payout ratio is currently 33.44%.

Analyst Upgrades and Downgrades

RRR has been the topic of several analyst reports. Wall Street Zen raised shares of Red Rock Resorts from a "sell" rating to a "hold" rating in a research note on Sunday, July 12th. Morgan Stanley set a $61.00 target price on shares of Red Rock Resorts in a research note on Wednesday. UBS Group set a $75.00 price target on Red Rock Resorts in a research note on Thursday, July 2nd. JPMorgan Chase & Co. lifted their price objective on Red Rock Resorts from $66.00 to $72.00 and gave the company an "overweight" rating in a research report on Wednesday, July 15th. Finally, Benchmark increased their target price on Red Rock Resorts from $63.00 to $78.00 and gave the stock a "buy" rating in a research report on Tuesday. Fourteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Red Rock Resorts has an average rating of "Moderate Buy" and an average price target of $71.24.

About Red Rock Resorts

Red Rock Resorts, Inc NASDAQ: RRR is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company's flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.

Want to see what other hedge funds are holding RRR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.