Kord Nichols Sells 5,250 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) Stock

Key Points

• Kord Nichols, COO of Red Rock Resorts, sold 5,250 shares of the company's stock for a total of $320,250, reducing his stake by 4.06% to 124,111 shares valued at approximately $7.57 million.
• Red Rock Resorts recently reported $0.95 EPS for the last quarter, exceeding analysts' expectations of $0.40, with revenues of $526.27 million, an 8.2% increase year-over-year.
• The company announced a quarterly dividend of $0.25 per share, reflecting a yield of 1.7%, with an ex-dividend date set for September 15th.

Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) COO Kord Nichols sold 5,250 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $61.00, for a total value of $320,250.00. Following the completion of the transaction, the chief operating officer owned 124,111 shares in the company, valued at $7,570,771. The trade was a 4.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, August 12th, Kord Nichols sold 42,325 shares of Red Rock Resorts stock. The shares were sold at an average price of $58.61, for a total value of $2,480,668.25.

Red Rock Resorts Trading Down 0.6%

Shares of NASDAQ RRR traded down $0.34 during mid-day trading on Thursday, reaching $60.58. 468,563 shares of the company's stock were exchanged, compared to its average volume of 877,611. The firm has a market capitalization of $6.42 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 2.46 and a beta of 1.66. The company has a debt-to-equity ratio of 11.28, a quick ratio of 0.84 and a current ratio of 0.89. Red Rock Resorts, Inc. has a 52-week low of $35.09 and a 52-week high of $62.00. The company's 50-day moving average is $54.37 and its 200-day moving average is $48.78.

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

Red Rock Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 (DPR) is 34.01%.

Wall Street Analyst Weigh In

RRR has been the topic of a number of research reports. Morgan Stanley raised their price objective on Red Rock Resorts from $49.00 to $53.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. started coverage on Red Rock Resorts in a research note on Monday, June 23rd. They issued an "overweight" rating and a $62.00 target price for the company. Stifel Nicolaus set a $60.00 target price on Red Rock Resorts and gave the stock a "hold" rating in a research note on Wednesday, July 30th. Mizuho raised their target price on Red Rock Resorts from $59.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, Macquarie reaffirmed an "outperform" rating and issued a $58.00 target price on shares of Red Rock Resorts in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.73.

Hedge Funds Weigh In On Red Rock Resorts

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Red Rock Resorts by 230.5% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552 shares of the company's stock valued at $29,000 after acquiring an additional 385 shares during the period. Sterling Capital Management LLC boosted its holdings in 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 period. Ameritas Advisory Services LLC purchased a new position in Red Rock Resorts during the 2nd quarter valued at about $42,000. Pandora Wealth Inc. acquired a new stake in shares of Red Rock Resorts in the first quarter valued at $43,000. Finally, US Bancorp DE raised its stake 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 valued at $45,000 after acquiring an additional 982 shares in the last quarter. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

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.

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