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

Voloridge Investment Management LLC increased its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 63.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 229,792 shares of the company's stock after purchasing an additional 89,169 shares during the quarter. Voloridge Investment Management LLC owned 0.22% of Red Rock Resorts worth $10,626,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of RRR. Sterling Capital Management LLC lifted its stake in 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 buying an additional 766 shares in the last quarter. KBC Group NV raised its holdings in shares of Red Rock Resorts by 37.1% in the fourth quarter. KBC Group NV now owns 1,996 shares of the company's stock worth $92,000 after acquiring an additional 540 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of 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 in the last quarter. Cibc World Markets Corp acquired a new stake in shares of Red Rock Resorts during the fourth quarter valued at $213,000. Finally, Jump Financial LLC acquired a new stake in shares of Red Rock Resorts during the fourth quarter valued at $253,000. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Barclays cut their target price on shares of Red Rock Resorts from $58.00 to $54.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Stifel Nicolaus cut their price objective on shares of Red Rock Resorts from $54.00 to $44.00 and set a "hold" rating for the company in a research report on Friday, May 2nd. Macquarie restated an "outperform" rating and set a $58.00 target price on shares of Red Rock Resorts in a research report on Friday, May 2nd. Truist Financial lowered their target price on shares of 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. Finally, Susquehanna reduced 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. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $52.64.

Red Rock Resorts Trading Down 0.6%

RRR stock traded down $0.31 during midday trading on Wednesday, reaching $49.54. 953,803 shares of the company's stock traded hands, compared to its average volume of 583,712. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. Red Rock Resorts, Inc. has a fifty-two week low of $35.09 and a fifty-two week high of $61.73. The business has a 50-day moving average price of $43.24 and a two-hundred day moving average price of $46.50. The company has a market capitalization of $5.25 billion, a P/E ratio of 19.74, a PEG ratio of 4.32 and a beta of 1.64.

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

Red Rock Resorts Announces Dividend

The business also recently disclosed an annual dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $1.00 per share. This represents a dividend yield of 2.29%. The ex-dividend date is Monday, June 16th. Red Rock Resorts's dividend payout ratio is presently 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.