UBS Group AG Buys 320,175 Shares of Red Rock Resorts, Inc. $RRR

Key Points

• UBS Group AG sharply increased its stake in Red Rock Resorts during the fourth quarter, buying an additional 320,175 shares and lifting its holdings to 476,311 shares worth about $29.5 million.
• Red Rock Resorts reported mixed quarterly results, with earnings per share of $0.73, below expectations, while revenue of $507.32 million slightly topped estimates and rose 1.9% year over year.
• The company announced a quarterly dividend of $0.26 per share, payable June 30, which annualizes to $1.04 per share for a 1.9% yield.

UBS Group AG boosted its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 205.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 476,311 shares of the company's stock after acquiring an additional 320,175 shares during the quarter. UBS Group AG owned 0.45% of Red Rock Resorts worth $29,507,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Red Rock Resorts by 6.7% in the third quarter. Vanguard Group Inc. now owns 5,564,421 shares of the company's stock valued at $339,764,000 after acquiring an additional 349,822 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Red Rock Resorts by 2,248.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,354,644 shares of the company's stock valued at $82,715,000 after acquiring an additional 1,296,956 shares during the period. Balyasny Asset Management L.P. increased its stake in Red Rock Resorts by 53.8% in the second quarter. Balyasny Asset Management L.P. now owns 793,371 shares of the company's stock valued at $41,279,000 after acquiring an additional 277,426 shares during the period. Dimensional Fund Advisors LP increased its stake in Red Rock Resorts by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 493,420 shares of the company's stock valued at $30,133,000 after acquiring an additional 1,589 shares during the period. Finally, Millennium Management LLC increased its stake in Red Rock Resorts by 56.2% in the first quarter. Millennium Management LLC now owns 430,150 shares of the company's stock valued at $18,656,000 after acquiring an additional 154,839 shares during the period. Institutional investors own 47.84% of the company's stock.

Red Rock Resorts Price Performance

Shares of Red Rock Resorts stock opened at $54.48 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 10.26. The stock has a market capitalization of $5.72 billion, a price-to-earnings ratio of 17.52, a P/E/G ratio of 3.66 and a beta of 1.35. Red Rock Resorts, Inc. has a 1-year low of $44.03 and a 1-year high of $68.99. The firm's 50-day moving average price is $56.89 and its two-hundred day moving average price is $59.15.

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 firm had revenue of $507.32 million for the quarter, compared to the consensus estimate of $505.63 million. Red Rock Resorts had a return on equity of 58.18% and a net margin of 9.21%.Red Rock Resorts's quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.75 earnings per share. On average, equities analysts predict that Red Rock Resorts, Inc. will post 1.73 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, June 15th. Red Rock Resorts's dividend payout ratio is 33.44%.

Wall Street Analyst Weigh In

RRR has been the topic of a number of analyst reports. Mizuho set a $77.00 target price on shares of Red Rock Resorts in a research note on Wednesday, February 11th. Jefferies Financial Group lowered their target price on shares of Red Rock Resorts from $79.00 to $74.00 and set a "buy" rating on the stock in a research note on Monday, April 6th. Benchmark lowered their target price on shares of Red Rock Resorts from $67.00 to $63.00 and set a "buy" rating on the stock in a research note on Thursday, April 30th. Citizens Jmp decreased their price objective on shares of Red Rock Resorts from $71.00 to $67.00 and set a "market outperform" rating on the stock in a research note on Thursday, April 30th. Finally, Zacks Research cut shares of Red Rock Resorts from a "hold" rating to a "strong sell" rating in a research note on Wednesday. Twelve investment 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. According to MarketBeat.com, Red Rock Resorts has a consensus rating of "Moderate Buy" and an average target price of $67.67.

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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