Tudor Investment Corp ET AL Takes Position in Red Rock Resorts, Inc. $RRR

Key Points

• Tudor Investment Corp ET AL purchased a new position in Red Rock Resorts of 247,521 shares (about $15.11M), representing roughly 0.23% ownership.
• Red Rock beat quarterly estimates with $0.75 EPS vs. $0.41 expected and $511.78M in revenue (up 3.2% YoY), reporting a 58.13% return on equity and a 9.35% net margin.
• The company pays a quarterly dividend of $0.26 (annualized $1.04, ~1.9% yield) and has a moderately bullish analyst consensus (12 Buy, 3 Hold; average price target $70.86).

Tudor Investment Corp ET AL purchased a new position in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 247,521 shares of the company's stock, valued at approximately $15,114,000. Tudor Investment Corp ET AL owned 0.23% of Red Rock Resorts as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RRR. AQR Capital Management LLC purchased a new stake in shares of Red Rock Resorts in the 1st quarter worth approximately $308,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Red Rock Resorts by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,272 shares of the company's stock valued at $1,270,000 after buying an additional 1,282 shares in the last quarter. Millennium Management LLC raised its stake in Red Rock Resorts by 56.2% during the first quarter. Millennium Management LLC now owns 430,150 shares of the company's stock valued at $18,656,000 after buying an additional 154,839 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Red Rock Resorts by 4.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 106,275 shares of the company's stock worth $4,609,000 after acquiring an additional 4,699 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in Red Rock Resorts by 6.8% in the second quarter. Rhumbline Advisers now owns 78,347 shares of the company's stock worth $4,076,000 after acquiring an additional 5,015 shares in the last quarter. Institutional investors own 47.84% of the company's stock.

Red Rock Resorts Price Performance

Shares of RRR opened at $55.04 on Friday. The firm has a fifty day simple moving average of $60.27 and a two-hundred day simple moving average of $59.77. The firm has a market cap of $5.78 billion, a PE ratio of 17.58, a P/E/G ratio of 2.29 and a beta of 1.48. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 10.26. Red Rock Resorts, Inc. has a 1-year low of $35.09 and a 1-year high of $68.99.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.41 by $0.34. The company had revenue of $511.78 million during the quarter, compared to analyst estimates of $500.90 million. Red Rock Resorts had a return on equity of 58.13% and a net margin of 9.35%.During the same quarter in the previous year, the company posted $0.76 earnings per share. Red Rock Resorts's revenue was up 3.2% compared to the same quarter last year. On average, equities analysts anticipate that Red Rock Resorts, Inc. will post 1.76 EPS for the current year.

Red Rock Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Monday, March 16th. Red Rock Resorts's payout ratio is currently 33.23%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on RRR shares. Citigroup reiterated a "market outperform" rating on shares of Red Rock Resorts in a research note on Tuesday, March 10th. Mizuho set a $77.00 price objective on shares of Red Rock Resorts in a report on Wednesday, February 11th. Barclays upped their price objective 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. Susquehanna lifted their target price on Red Rock Resorts from $69.00 to $77.00 and gave the stock a "positive" rating in a report on Wednesday, February 11th. Finally, Morgan Stanley set a $62.00 price target on Red Rock Resorts in a research note on Thursday, February 12th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold 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 $70.86.

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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