Voya Investment Management LLC Sells 11,701 Shares of Red Rock Resorts, Inc. $RRR

Key Points

• Voya Investment Management LLC reduced its stake in Red Rock Resorts by 9.5%, resulting in ownership of 111,774 shares valued at approximately $4.85 million as of its latest SEC filing.
• Red Rock Resorts reported $0.95 earnings per share for the recent quarter, significantly surpassing the consensus estimate of $0.40, with revenues increasing by 8.2% year-over-year.
• The company announced a quarterly dividend of $0.25 per share to be paid on September 30th, yielding 1.6% at an annualized rate of $1.00.

Voya Investment Management LLC reduced its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 9.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 111,774 shares of the company's stock after selling 11,701 shares during the period. Voya Investment Management LLC owned about 0.11% of Red Rock Resorts worth $4,848,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers raised its stake in shares of Red Rock Resorts by 1.3% in the first quarter. Rhumbline Advisers now owns 73,332 shares of the company's stock valued at $3,180,000 after acquiring an additional 906 shares during the last quarter. WBI Investments LLC acquired a new stake in Red Rock Resorts during the 1st quarter valued at $210,000. Bayforest Capital Ltd raised its position in Red Rock Resorts by 1,011.1% in the 1st quarter. Bayforest Capital Ltd now owns 19,366 shares of the company's stock valued at $840,000 after purchasing an additional 17,623 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake 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 purchasing an additional 4,699 shares in the last quarter. Finally, Aristeia Capital L.L.C. acquired a new position in Red Rock Resorts in the first quarter worth $204,000. 47.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Stephen Lawrence Cootey sold 121,400 shares of Red Rock Resorts stock in a transaction on Friday, August 1st. The shares were sold at an average price of $60.04, for a total transaction of $7,288,856.00. Following the transaction, the chief financial officer directly owned 260,268 shares of the company's stock, valued at $15,626,490.72. This trade represents a 31.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Kord Nichols sold 42,325 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $58.61, for a total transaction of $2,480,668.25. Following the completion of the transaction, the chief operating officer directly owned 129,361 shares of the company's stock, valued at $7,581,848.21. This trade represents a 24.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 262,703 shares of company stock valued at $15,764,672 in the last 90 days. 53.28% of the stock is owned by insiders.

Red Rock Resorts Trading Down 0.2%

Shares of Red Rock Resorts stock traded down $0.12 on Monday, hitting $60.64. 923,196 shares of the company's stock traded hands, compared to its average volume of 573,316. The firm's 50-day moving average price is $59.25 and its two-hundred day moving average price is $50.89. The company has a debt-to-equity ratio of 11.28, a current ratio of 0.89 and a quick ratio of 0.84. The stock has a market capitalization of $6.40 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 2.45 and a beta of 1.46. Red Rock Resorts, Inc. has a one year low of $35.09 and a one year high of $63.60.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.55. Red Rock Resorts had a return on equity of 59.97% and a net margin of 8.89%.The business had revenue of $526.27 million during the quarter, compared to analysts' expectations of $485.44 million. During the same period in the previous year, the firm earned $0.59 earnings per share. The firm's quarterly revenue was up 8.2% compared to the same quarter last year. On average, research analysts expect that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Monday, September 15th. Red Rock Resorts's dividend payout ratio (DPR) is currently 34.01%.

Analyst Ratings Changes

RRR has been the subject of a number of research reports. Morgan Stanley raised their target price on Red Rock Resorts from $49.00 to $53.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Zacks Research upgraded shares of Red Rock Resorts from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 15th. Barclays upped their target price on shares of Red Rock Resorts from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. initiated coverage on shares of Red Rock Resorts in a report on Monday, June 23rd. They issued an "overweight" rating and a $62.00 price target for the company. Finally, JMP Securities boosted their price objective on shares of Red Rock Resorts from $64.00 to $65.00 and gave the stock a "market outperform" rating in a research report on Tuesday, September 16th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Red Rock Resorts has a consensus rating of "Moderate Buy" and a consensus price target of $60.82.

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.