Red Rock Resorts, Inc. (NASDAQ:RRR) Shares Sold by First Trust Advisors LP

First Trust Advisors LP reduced its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 38.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,298 shares of the company's stock after selling 14,020 shares during the period. First Trust Advisors LP's holdings in Red Rock Resorts were worth $1,031,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Sterling Capital Management LLC increased its stake in Red Rock Resorts by 654.7% in the fourth quarter. Sterling Capital Management LLC now owns 883 shares of the company's stock valued at $41,000 after purchasing an additional 766 shares during the last quarter. KBC Group NV boosted its position 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. Mayfair Advisory Group LLC boosted its holdings in shares of Red Rock Resorts by 15.1% in the 4th quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company's stock valued at $208,000 after purchasing an additional 591 shares during the last quarter. Cibc World Markets Corp purchased a new stake in shares of Red Rock Resorts during the 4th quarter valued at $213,000. Finally, Jump Financial LLC purchased a new position in shares of Red Rock Resorts in the 4th quarter worth $253,000. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RRR has been the subject of a number of research analyst reports. Macquarie reissued an "outperform" rating and set a $58.00 target price on shares of Red Rock Resorts in a research report on Friday, May 2nd. Mizuho cut their target price on shares of Red Rock Resorts from $52.00 to $50.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Stifel Nicolaus decreased their price target 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. Truist Financial lowered their price target on Red Rock Resorts from $56.00 to $45.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Finally, Barclays decreased 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. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Red Rock Resorts has an average rating of "Hold" and a consensus price target of $52.83.

Red Rock Resorts Stock Up 0.5 %

RRR traded up $0.24 during trading on Friday, hitting $44.40. The company had a trading volume of 441,060 shares, compared to its average volume of 565,438. The company has a market cap of $4.71 billion, a PE ratio of 17.69, a P/E/G ratio of 4.32 and a beta of 1.64. 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 1-year low of $35.09 and a 1-year high of $61.73. The business has a 50-day moving average of $42.79 and a 200-day moving average of $47.01.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.47 by $0.33. The business had revenue of $497.86 million for the quarter, compared to analysts' expectations of $499.12 million. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. The company's quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter last 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 Announces Dividend

The company also recently declared an annual dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Wednesday, May 14th will be issued a $1.00 dividend. The ex-dividend date is Wednesday, May 14th. This represents a dividend yield of 2.29%. Red Rock Resorts's dividend payout ratio (DPR) is 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.