SG Americas Securities LLC Takes Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

SG Americas Securities LLC purchased a new stake in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,294 shares of the company's stock, valued at approximately $750,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RRR. Arizona State Retirement System boosted its stake in shares of Red Rock Resorts by 1.5% during the 4th quarter. Arizona State Retirement System now owns 14,707 shares of the company's stock valued at $680,000 after buying an additional 216 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Red Rock Resorts by 3.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 10,662 shares of the company's stock worth $492,000 after buying an additional 314 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Red Rock Resorts by 47.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company's stock valued at $95,000 after buying an additional 664 shares during the period. Sterling Capital Management LLC grew its position in shares of Red Rock Resorts by 654.7% during the 4th quarter. Sterling Capital Management LLC now owns 883 shares of the company's stock valued at $41,000 after buying an additional 766 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in Red Rock Resorts by 1.3% in the first quarter. Rhumbline Advisers now owns 73,332 shares of the company's stock worth $3,180,000 after acquiring an additional 906 shares during the last quarter. Hedge funds and other institutional investors own 47.84% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on RRR. Susquehanna lowered their target price on Red Rock Resorts from $61.00 to $52.00 and set a "positive" rating for the company in a report on Wednesday, April 16th. Morgan Stanley lowered their price objective on Red Rock Resorts from $45.00 to $43.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Mizuho upgraded Red Rock Resorts from a "neutral" rating to an "outperform" rating and set a $50.00 target price on the stock in a research note on Monday, June 2nd. Macquarie reissued an "outperform" rating and set a $58.00 price target on shares of Red Rock Resorts in a report on Friday, May 2nd. Finally, JMP Securities dropped their price objective on shares of Red Rock Resorts from $59.00 to $55.00 and set a "market outperform" rating on the stock in a report on Thursday, April 17th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $52.00.

Red Rock Resorts Price Performance

RRR stock traded up $0.99 during trading hours on Tuesday, hitting $51.92. 600,507 shares of the stock traded hands, compared to its average volume of 596,257. The stock has a 50-day simple moving average of $46.21 and a 200 day simple moving average of $46.34. The company has a market cap of $5.51 billion, a P/E ratio of 20.12, a P/E/G ratio of 5.27 and a beta of 1.61. Red Rock Resorts, Inc. has a one year low of $35.09 and a one year high of $61.73. The company has a current ratio of 0.92, a quick ratio of 0.87 and a debt-to-equity ratio of 9.04.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.33. The company had revenue of $497.86 million during the quarter, compared to the consensus estimate of $499.12 million. Red Rock Resorts had a net margin of 8.01% and a return on equity of 56.45%. Red Rock Resorts's revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.68 EPS. Equities analysts forecast that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The firm also recently declared an annual dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a $1.00 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a yield of 2.29%. Red Rock Resorts's dividend payout ratio (DPR) is 38.76%.

About Red Rock Resorts

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.