Invesco Ltd. Sells 652,736 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Invesco Ltd. lessened its holdings in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 90.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,484 shares of the company's stock after selling 652,736 shares during the quarter. Invesco Ltd. owned about 0.07% of Red Rock Resorts worth $3,259,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its holdings in shares of Red Rock Resorts by 250.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 14,437 shares of the company's stock worth $668,000 after purchasing an additional 10,312 shares in the last quarter. Wells Fargo & Company MN lifted its position in Red Rock Resorts by 16.2% in the 4th quarter. Wells Fargo & Company MN now owns 34,520 shares of the company's stock worth $1,596,000 after buying an additional 4,822 shares during the last quarter. Trexquant Investment LP purchased a new stake in Red Rock Resorts in the fourth quarter worth approximately $5,273,000. Headlands Technologies LLC grew its position in Red Rock Resorts by 200.2% during the fourth quarter. Headlands Technologies LLC now owns 16,635 shares of the company's stock valued at $769,000 after acquiring an additional 11,093 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Red Rock Resorts by 167.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 422,447 shares of the company's stock worth $19,534,000 after acquiring an additional 264,609 shares in the last quarter. Hedge funds and other institutional investors own 47.84% of the company's stock.

Analyst Upgrades and Downgrades

RRR has been the subject of a number of research reports. Mizuho upped their price objective on shares of Red Rock Resorts from $44.00 to $52.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. Macquarie restated an "outperform" rating and set a $58.00 price target on shares of Red Rock Resorts in a research report on Friday. Jefferies Financial Group reaffirmed a "hold" rating and set a $51.00 price objective (down from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Truist Financial lowered their target price on 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 report on Wednesday, April 16th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $53.00.

Red Rock Resorts Trading Up 3.1 %

Shares of RRR traded up $1.30 during mid-day trading on Friday, hitting $43.57. 148,480 shares of the company's stock traded hands, compared to its average volume of 571,360. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The firm has a market capitalization of $4.62 billion, a P/E ratio of 17.36, a PEG ratio of 4.32 and a beta of 1.69. The business's 50-day moving average price is $43.47 and its 200-day moving average price is $47.37. Red Rock Resorts, Inc. has a 1 year low of $35.09 and a 1 year 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, 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 period in the previous year, the firm earned $0.68 EPS. The company's quarterly revenue was up 1.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.25 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 2.30%. Red Rock Resorts's dividend payout ratio (DPR) is presently 39.84%.

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.