Red Rock Resorts, Inc. (NASDAQ:RRR) COO Sells $2,480,668.25 in Stock

Key Points

• Kord Nichols, COO of Red Rock Resorts, sold 42,325 shares at an average price of $58.61, reducing his ownership by 24.65% and leaving him with approximately $7.58 million in shares.
• The company reported a significant earnings surprise, with an EPS of $0.95 for the last quarter, exceeding estimates by $0.55, and revenue of $526.27 million, up 8.2% year-over-year.
• Red Rock Resorts declared a quarterly dividend of $0.25 per share, translating to a 1.6% yield, with the ex-dividend date set for September 15th.

Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) COO Kord Nichols sold 42,325 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $58.61, for a total value of $2,480,668.25. Following the completion of the transaction, the chief operating officer 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Kord Nichols also recently made the following trade(s):

• On Wednesday, August 13th, Kord Nichols sold 5,250 shares of Red Rock Resorts stock. The shares were sold at an average price of $61.00, for a total transaction of $320,250.00.

Red Rock Resorts Price Performance

Shares of NASDAQ RRR traded up $0.50 during trading on Monday, hitting $59.54. 168,386 shares of the company were exchanged, compared to its average volume of 713,351. The company has a debt-to-equity ratio of 11.28, a current ratio of 0.89 and a quick ratio of 0.84. Red Rock Resorts, Inc. has a 1 year low of $35.09 and a 1 year high of $62.00. The company has a market cap of $6.28 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 2.38 and a beta of 1.66. The firm's fifty day moving average price is $54.55 and its 200 day moving average price is $48.86.

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

Red Rock Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, September 15th. Red Rock Resorts's dividend payout ratio is 34.01%.

Hedge Funds Weigh In On Red Rock Resorts

A number of institutional investors have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Red Rock Resorts by 230.5% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552 shares of the company's stock valued at $29,000 after purchasing an additional 385 shares during the last quarter. Sterling Capital Management LLC increased its stake in shares of Red Rock Resorts by 654.7% during the 4th quarter. Sterling Capital Management LLC now owns 883 shares of the company's stock valued at $41,000 after acquiring an additional 766 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Red Rock Resorts during the 2nd quarter valued at about $42,000. Pandora Wealth Inc. purchased a new position in shares of Red Rock Resorts during the 1st quarter worth about $43,000. Finally, US Bancorp DE boosted its position in shares of Red Rock Resorts by 1,664.4% in the first quarter. US Bancorp DE now owns 1,041 shares of the company's stock worth $45,000 after acquiring an additional 982 shares during the last quarter. 47.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on RRR shares. Morgan Stanley upped their price target on Red Rock Resorts from $49.00 to $53.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. began coverage on Red Rock Resorts in a research note on Monday, June 23rd. They set an "overweight" rating and a $62.00 target price for the company. Citigroup reissued an "outperform" rating on shares of Red Rock Resorts in a research note on Friday, July 18th. Mizuho increased their price objective on shares of Red Rock Resorts from $59.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, Susquehanna reaffirmed a "positive" rating and issued a $68.00 price target (up from $65.00) on shares of Red Rock Resorts in a research note on Wednesday, July 30th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $60.73.

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.