Teacher Retirement System of Texas Acquires New Stake in Red Rock Resorts, Inc. (NASDAQ:RRR)

Teacher Retirement System of Texas acquired a new position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,411 shares of the company's stock, valued at approximately $321,000.

A number of other large investors have also recently bought and sold shares of RRR. Sterling Capital Management LLC increased its stake in shares of Red Rock Resorts by 654.7% in the 4th quarter. Sterling Capital Management LLC now owns 883 shares of the company's stock valued at $41,000 after purchasing an additional 766 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Red Rock Resorts by 47.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company's stock valued at $95,000 after acquiring an additional 664 shares during the last quarter. KBC Group NV raised its stake in Red Rock Resorts by 44.6% during the first quarter. KBC Group NV now owns 2,887 shares of the company's stock worth $125,000 after acquiring an additional 891 shares in the last quarter. Cibc World Markets Corp acquired a new position in Red Rock Resorts during the fourth quarter worth about $213,000. Finally, Mayfair Advisory Group LLC lifted its holdings in shares of Red Rock Resorts by 8.1% in the first quarter. Mayfair Advisory Group LLC now owns 4,861 shares of the company's stock worth $211,000 after acquiring an additional 364 shares during the last quarter. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Mizuho upgraded shares of Red Rock Resorts from a "neutral" rating to an "outperform" rating and set a $50.00 price target for the company in a report on Monday, June 2nd. JPMorgan Chase & Co. initiated coverage on Red Rock Resorts in a report on Monday, June 23rd. They issued an "overweight" rating and a $62.00 target price for the company. Susquehanna cut their price target on Red Rock Resorts from $61.00 to $52.00 and set a "positive" rating on the stock in a research note on Wednesday, April 16th. Truist Financial upgraded Red Rock Resorts from a "hold" rating to a "buy" rating and boosted their price target for the stock from $45.00 to $67.00 in a report on Wednesday. Finally, Stifel Nicolaus lowered their price objective on Red Rock Resorts from $54.00 to $44.00 and set a "hold" rating for the company in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $55.45.

Red Rock Resorts Stock Down 0.9%

RRR stock traded down $0.49 during trading on Friday, reaching $54.88. 732,702 shares of the stock were exchanged, compared to its average volume of 627,296. The firm's 50 day moving average is $50.75 and its 200 day moving average is $47.27. The firm has a market cap of $5.82 billion, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 3.58 and a beta of 1.62. 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, Inc. has a twelve month low of $35.09 and a twelve month high of $61.08.

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

Red Rock Resorts Dividend Announcement

The business also recently declared an annual dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a $1.00 dividend. This represents a dividend yield of 2.29%. The ex-dividend date was Monday, June 16th. Red Rock Resorts's dividend payout ratio (DPR) is currently 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.