Voloridge Investment Management LLC Increases Stake in Red Rock Resorts, Inc. (NASDAQ:RRR)

Voloridge Investment Management LLC lifted its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 63.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 229,792 shares of the company's stock after acquiring an additional 89,169 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.22% of Red Rock Resorts worth $10,626,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Barclays PLC boosted its stake in Red Rock Resorts by 227.9% in the 3rd quarter. Barclays PLC now owns 78,932 shares of the company's stock worth $4,297,000 after purchasing an additional 54,863 shares during the period. Avior Wealth Management LLC boosted its stake in Red Rock Resorts by 11.8% in the 4th quarter. Avior Wealth Management LLC now owns 8,828 shares of the company's stock worth $408,000 after purchasing an additional 930 shares during the period. KBC Group NV boosted its stake in Red Rock Resorts by 37.1% in the 4th quarter. KBC Group NV now owns 1,996 shares of the company's stock worth $92,000 after purchasing an additional 540 shares during the period. Hantz Financial Services Inc. boosted its stake in Red Rock Resorts by 3.4% in the 4th quarter. Hantz Financial Services Inc. now owns 272,884 shares of the company's stock worth $12,618,000 after purchasing an additional 9,002 shares during the period. Finally, Entropy Technologies LP bought a new position in Red Rock Resorts in the 4th quarter worth approximately $366,000. 47.84% of the stock is currently owned by institutional investors.

Red Rock Resorts Trading Down 1.2%

NASDAQ:RRR traded down $0.57 during midday trading on Friday, hitting $48.27. 118,764 shares of the company traded hands, compared to its average volume of 581,923. The firm's fifty day moving average is $43.42 and its 200-day moving average is $46.49. Red Rock Resorts, Inc. has a 12-month low of $35.09 and a 12-month high of $61.73. The firm has a market capitalization of $5.12 billion, a P/E ratio of 19.24, a P/E/G ratio of 4.32 and a beta of 1.64. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.33. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. The business had revenue of $497.86 million for the quarter, compared to analyst estimates of $499.12 million. During the same quarter last year, the firm posted $0.68 earnings per share. The business's revenue was up 1.8% compared to the same quarter last year. On average, sell-side analysts predict that Red Rock Resorts, Inc. will post 1.76 EPS for the current year.

Red Rock Resorts Announces Dividend

The firm also recently announced an annual dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid 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 payout ratio is 38.76%.

Analysts Set New Price Targets

Several research firms have weighed in on RRR. Truist Financial dropped their price target on Red Rock Resorts from $56.00 to $45.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Susquehanna decreased their price objective on Red Rock Resorts from $61.00 to $52.00 and set a "positive" rating on the stock in a report on Wednesday, April 16th. Morgan Stanley decreased their price objective on Red Rock Resorts from $45.00 to $43.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Barclays decreased their price objective on Red Rock Resorts from $58.00 to $54.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Finally, JMP Securities decreased their price objective on 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. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $52.64.

Red Rock Resorts Profile

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.