Red Rock Resorts, Inc. $RRR Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard trimmed its stake in Red Rock Resorts by 1.6% in Q4, selling 88,106 shares and now holds 5,476,315 shares (about 5.17% of the company) valued at roughly $339.3 million; institutional investors own 47.84% of the stock.
• Red Rock reported an EPS miss of $0.73 vs. $0.90 expected while revenue topped estimates at $507.3M, and the company declared a quarterly dividend of $0.26 per share (annualized $1.04, yield 1.9%, ex-dividend June 15).
• Analysts maintain a consensus rating of Moderate Buy with a $67.67 target, while the stock trades around $53.74 with a $5.64 billion market cap and a trailing P/E of 17.28.

Vanguard Group Inc. lowered its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 1.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,476,315 shares of the company's stock after selling 88,106 shares during the quarter. Vanguard Group Inc. owned 5.17% of Red Rock Resorts worth $339,258,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S bought a new position in Red Rock Resorts during the third quarter valued at about $4,961,000. Tudor Investment Corp ET AL acquired a new position in shares of Red Rock Resorts in the 3rd quarter valued at $15,114,000. Cookson Peirce & Co. Inc. acquired a new position in shares of Red Rock Resorts in the 3rd quarter valued at $1,203,000. JPMorgan Chase & Co. boosted its position in shares of Red Rock Resorts by 92.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 180,185 shares of the company's stock valued at $11,002,000 after purchasing an additional 86,770 shares during the period. Finally, Capital World Investors boosted its position in shares of Red Rock Resorts by 47.1% in the 3rd quarter. Capital World Investors now owns 312,500 shares of the company's stock valued at $19,081,000 after purchasing an additional 100,000 shares during the period. Institutional investors own 47.84% of the company's stock.

Red Rock Resorts Trading Up 1.5%

Shares of NASDAQ RRR opened at $53.74 on Friday. Red Rock Resorts, Inc. has a one year low of $43.76 and a one year high of $68.99. The firm has a market capitalization of $5.64 billion, a PE ratio of 17.28, a PEG ratio of 3.55 and a beta of 1.35. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 10.26. The business has a 50-day moving average price of $56.89 and a two-hundred day moving average price of $59.15.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.73 earnings per share for the quarter, missing analysts' consensus estimates of $0.90 by ($0.17). Red Rock Resorts had a return on equity of 58.18% and a net margin of 9.21%.The firm had revenue of $507.32 million for the quarter, compared to analysts' expectations of $505.63 million. During the same period last year, the business earned $0.75 earnings per share. The firm's revenue for the quarter was up 1.9% on a year-over-year basis. As a group, analysts predict that Red Rock Resorts, Inc. will post 1.73 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.9%. Red Rock Resorts's dividend payout ratio (DPR) is 33.44%.

Analyst Ratings Changes

A number of research firms recently weighed in on RRR. Morgan Stanley set a $59.00 price target on Red Rock Resorts in a research report on Wednesday. Barclays increased their price target on Red Rock Resorts from $65.00 to $69.00 and gave the company an "overweight" rating in a research report on Friday, January 16th. Truist Financial decreased their price target on Red Rock Resorts from $70.00 to $68.00 and set a "buy" rating for the company in a research report on Thursday, April 30th. Wells Fargo & Company decreased their price target on Red Rock Resorts from $59.00 to $55.00 and set an "equal weight" rating for the company in a research report on Thursday, April 30th. Finally, Weiss Ratings lowered Red Rock Resorts from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, April 17th. Twelve investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.67.

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.

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