Segall Bryant & Hamill LLC Boosts Stock Holdings in Red Rock Resorts, Inc. $RRR

Key Points

• Segall Bryant & Hamill more than doubled its Red Rock Resorts stake by 123.6% in the first quarter, bringing its holdings to 36,165 shares valued at approximately $1.93 million. Hedge funds and institutional investors collectively own 47.84% of the company.
• Analyst sentiment is broadly positive: Red Rock Resorts has an overall “Moderate Buy” rating, with an average price target of $71.24 versus a recent price of $64.27. Goldman Sachs, Barclays and Wells Fargo maintained or upgraded bullish ratings and targets.
• The company beat quarterly expectations with earnings of $0.67 per share and revenue of $510.26 million, although revenue declined 3% year over year. Red Rock also declared a quarterly dividend of $0.26 per share, equivalent to a 1.6% annualized yield.

Segall Bryant & Hamill LLC lifted its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 123.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,165 shares of the company's stock after acquiring an additional 19,991 shares during the period. Segall Bryant & Hamill LLC's holdings in Red Rock Resorts were worth $1,930,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its position in Red Rock Resorts by 3.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 10,383 shares of the company's stock valued at $643,000 after acquiring an additional 324 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of 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 worth $2,431,000 after purchasing an additional 343 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Red Rock Resorts by 3.9% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 10,022 shares of the company's stock worth $628,000 after purchasing an additional 378 shares in the last quarter. Osaic Holdings Inc. increased its holdings in shares of Red Rock Resorts by 14.8% in the 2nd quarter. Osaic Holdings Inc. now owns 2,996 shares of the company's stock worth $149,000 after purchasing an additional 387 shares in the last quarter. Finally, Salomon & Ludwin LLC purchased a new position in shares of Red Rock Resorts in the fourth quarter worth $25,000. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Weiss Ratings raised Red Rock Resorts from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, July 10th. The Goldman Sachs Group reiterated a "buy" rating and issued a $73.00 price objective on shares of Red Rock Resorts in a report on Wednesday, July 15th. Wall Street Zen raised Red Rock Resorts from a "sell" rating to a "hold" rating in a research report on Sunday, July 12th. Barclays upped their target price on shares of Red Rock Resorts from $65.00 to $72.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Finally, Wells Fargo & Company raised shares of Red Rock Resorts from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $55.00 to $75.00 in a report on Tuesday, July 14th. Fourteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $71.24.

Red Rock Resorts Price Performance

NASDAQ RRR opened at $64.27 on Wednesday. The stock has a market capitalization of $6.75 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 4.82 and a beta of 1.36. Red Rock Resorts, Inc. has a 1-year low of $50.52 and a 1-year high of $68.99. The company has a debt-to-equity ratio of 14.42, a current ratio of 0.81 and a quick ratio of 0.76. The business's fifty day moving average price is $62.69 and its 200-day moving average price is $59.84.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.51 by $0.16. The company had revenue of $510.26 million during the quarter, compared to analyst estimates of $500.08 million. Red Rock Resorts had a return on equity of 61.67% and a net margin of 9.21%.Red Rock Resorts's revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 earnings per share. On average, equities analysts predict that Red Rock Resorts, Inc. will post 1.52 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 15th. Red Rock Resorts's payout ratio is currently 33.44%.

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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