SG Americas Securities LLC Has $387,000 Holdings in Red Rock Resorts, Inc. $RRR

Key Points

• SG Americas Securities LLC cut its stake in Red Rock Resorts by 71.5% in the first quarter, leaving it with 7,244 shares valued at about $387,000.
• Red Rock Resorts shares were trading around $63.49, near the middle of their 52-week range, with the company carrying a market cap of about $6.67 billion.
• The company recently missed earnings expectations with quarterly EPS of $0.73 versus the $0.90 consensus, though revenue came in slightly above estimates and analysts currently maintain a Moderate Buy rating with an average target of $68.12.

SG Americas Securities LLC decreased its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 71.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,244 shares of the company's stock after selling 18,153 shares during the quarter. SG Americas Securities LLC's holdings in Red Rock Resorts were worth $387,000 at the end of the most recent reporting period.

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

Red Rock Resorts Trading Up 0.3%

Shares of NASDAQ RRR opened at $63.49 on Friday. The firm has a 50 day moving average price of $58.61 and a two-hundred day moving average price of $59.55. The stock has a market cap of $6.67 billion, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 4.80 and a beta of 1.35. Red Rock Resorts, Inc. has a 52-week low of $50.52 and a 52-week high of $68.99. The company has a debt-to-equity ratio of 14.42, a quick ratio of 0.76 and a current ratio of 0.81.

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

Red Rock Resorts Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RRR shares. Morgan Stanley set a $59.00 target price on Red Rock Resorts in a report on Wednesday, May 6th. Zacks Research cut Red Rock Resorts from a "hold" rating to a "strong sell" rating in a report on Wednesday, May 6th. Barclays upped their price objective on Red Rock Resorts from $65.00 to $72.00 and gave the stock an "overweight" rating in a research report on Thursday. Wall Street Zen lowered Red Rock Resorts from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Finally, The Goldman Sachs Group began coverage on Red Rock Resorts in a research report on Friday, June 26th. They issued a "buy" rating and a $72.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $68.12.

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.