Wellington Management Group LLP Sells 98,788 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Wellington Management Group LLP lessened its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 53.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 86,230 shares of the company's stock after selling 98,788 shares during the period. Wellington Management Group LLP owned approximately 0.08% of Red Rock Resorts worth $3,987,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sterling Capital Management LLC increased its position in Red Rock Resorts by 654.7% during the 4th quarter. Sterling Capital Management LLC now owns 883 shares of the company's stock worth $41,000 after purchasing an additional 766 shares in the last quarter. KBC Group NV lifted its stake in shares of Red Rock Resorts by 37.1% in the 4th quarter. KBC Group NV now owns 1,996 shares of the company's stock valued at $92,000 after acquiring an additional 540 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Red Rock Resorts by 47.7% in the 4th 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 during the last quarter. Cibc World Markets Corp acquired a new stake in shares of Red Rock Resorts during the 4th quarter valued at $213,000. Finally, Jump Financial LLC acquired a new stake in shares of Red Rock Resorts during the 4th quarter valued at $253,000. Institutional investors own 47.84% of the company's stock.

Red Rock Resorts Trading Up 1.3%

Shares of NASDAQ:RRR traded up $0.64 during midday trading on Friday, reaching $50.04. The company's stock had a trading volume of 393,580 shares, compared to its average volume of 582,601. Red Rock Resorts, Inc. has a fifty-two week low of $35.09 and a fifty-two week high of $61.73. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02. The firm has a 50 day moving average price of $43.92 and a two-hundred day moving average price of $46.43. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 19.94, 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 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.33. The business had revenue of $497.86 million during the quarter, compared to the consensus estimate of $499.12 million. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. The firm's revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 earnings per share. As a group, analysts forecast that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The business also recently disclosed an annual dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a dividend yield of 2.29%. Red Rock Resorts's dividend payout ratio (DPR) is presently 38.76%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RRR shares. Barclays dropped their target price on Red Rock Resorts from $58.00 to $54.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Stifel Nicolaus lowered their price objective on Red Rock Resorts from $54.00 to $44.00 and set a "hold" rating for the company in a research note on Friday, May 2nd. JMP Securities cut their target price on shares of Red Rock Resorts from $59.00 to $55.00 and set a "market outperform" rating on the stock in a research report on Thursday, April 17th. Truist Financial reduced their target price on shares of Red Rock Resorts from $56.00 to $45.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Finally, Mizuho upgraded shares of Red Rock Resorts from a "neutral" rating to an "outperform" rating and set a $50.00 price target for the company in a research report on Monday. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Red Rock Resorts presently has a consensus rating of "Moderate Buy" 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.