Wellington Management Group LLP Cuts Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

Wellington Management Group LLP trimmed its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 53.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,230 shares of the company's stock after selling 98,788 shares during the quarter. Wellington Management Group LLP owned 0.08% of Red Rock Resorts worth $3,987,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Barclays PLC increased its position in shares of Red Rock Resorts by 227.9% in the 3rd quarter. Barclays PLC now owns 78,932 shares of the company's stock valued at $4,297,000 after purchasing an additional 54,863 shares during the last quarter. KBC Group NV grew its stake in shares of Red Rock Resorts by 37.1% during the fourth quarter. KBC Group NV now owns 1,996 shares of the company's stock worth $92,000 after purchasing an additional 540 shares in the last quarter. Entropy Technologies LP acquired a new position in shares of Red Rock Resorts during the fourth quarter worth $366,000. Vaughan Nelson Investment Management L.P. increased its holdings in Red Rock Resorts by 20.6% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,344,058 shares of the company's stock valued at $62,149,000 after buying an additional 229,843 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in Red Rock Resorts by 19.7% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 42,390 shares of the company's stock valued at $1,960,000 after buying an additional 6,969 shares in the last quarter. Hedge funds and other institutional investors own 47.84% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. 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 report on Friday, May 2nd. Mizuho upgraded Red Rock Resorts from a "neutral" rating to an "outperform" rating and set a $50.00 target price for the company in a research note on Monday, June 2nd. Morgan Stanley lowered their price target on Red Rock Resorts from $45.00 to $43.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Macquarie reissued an "outperform" rating and set a $58.00 price objective on shares of Red Rock Resorts in a report on Friday, May 2nd. Finally, Truist Financial reduced their price objective on shares of Red Rock Resorts from $56.00 to $45.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Red Rock Resorts currently has an average rating of "Moderate Buy" and a consensus price target of $52.64.

Red Rock Resorts Stock Performance

Shares of RRR stock traded up $0.64 during trading hours on Friday, hitting $50.04. The stock had a trading volume of 393,580 shares, compared to its average volume of 585,181. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. The firm has a market capitalization of $5.31 billion, a PE ratio of 19.94, a PEG ratio of 4.32 and a beta of 1.61. The stock's 50 day moving average is $44.08 and its 200 day moving average is $46.38. Red Rock Resorts, Inc. has a twelve month low of $35.09 and a twelve month high of $61.73.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $497.86 million for the quarter, compared to the consensus estimate of $499.12 million. During the same period last year, the firm posted $0.68 EPS. Red Rock Resorts's revenue for the quarter was up 1.8% on a year-over-year basis. As a group, research analysts forecast that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

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

Red Rock Resorts Company 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.