Sequoia Financial Advisors LLC Trims Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

Sequoia Financial Advisors LLC lessened its stake in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 99.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,759 shares of the company's stock after selling 3,705,533 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Red Rock Resorts were worth $414,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RRR. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Red Rock Resorts during the 4th quarter worth approximately $40,331,000. American Century Companies Inc. grew its position in shares of Red Rock Resorts by 67.9% during the 3rd quarter. American Century Companies Inc. now owns 56,371 shares of the company's stock worth $2,311,000 after buying an additional 22,799 shares during the period. Deutsche Bank AG grew its position in shares of Red Rock Resorts by 15.6% during the 3rd quarter. Deutsche Bank AG now owns 24,888 shares of the company's stock worth $1,020,000 after buying an additional 3,366 shares during the period. Creative Planning grew its position in shares of Red Rock Resorts by 53.6% during the 3rd quarter. Creative Planning now owns 10,338 shares of the company's stock worth $424,000 after buying an additional 3,606 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Red Rock Resorts by 27.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 24,812 shares of the company's stock worth $1,017,000 after buying an additional 5,365 shares during the period. Institutional investors and hedge funds own 47.84% of the company's stock.

Wall Street Analyst Weigh In

RRR has been the subject of several analyst reports. JMP Securities lifted their price target on shares of Red Rock Resorts from $55.00 to $61.00 and gave the stock a "market outperform" rating in a research report on Thursday, February 8th. Bank of America lifted their price objective on shares of Red Rock Resorts from $52.00 to $57.00 and gave the stock a "buy" rating in a research note on Monday, April 8th. Stifel Nicolaus lifted their price objective on shares of Red Rock Resorts from $47.00 to $54.00 and gave the stock a "hold" rating in a research note on Thursday, December 21st. Wells Fargo & Company lifted their price objective on shares of Red Rock Resorts from $57.00 to $62.00 and gave the stock an "overweight" rating in a research note on Thursday, February 8th. Finally, Susquehanna lifted their price objective on shares of Red Rock Resorts from $52.00 to $66.00 and gave the stock a "positive" rating in a research note on Thursday, February 8th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.67.

Insider Transactions at Red Rock Resorts

In other news, CFO Stephen Lawrence Cootey sold 7,520 shares of the business's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $57.74, for a total value of $434,204.80. Following the sale, the chief financial officer now owns 243,808 shares of the company's stock, valued at $14,077,473.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 54.20% of the stock is currently owned by insiders.

Red Rock Resorts Stock Down 1.4 %

RRR traded down $0.80 during trading on Thursday, reaching $57.86. The company had a trading volume of 276,470 shares, compared to its average volume of 409,529. The company has a debt-to-equity ratio of 13.54, a current ratio of 0.81 and a quick ratio of 0.76. Red Rock Resorts, Inc. has a 12 month low of $37.82 and a 12 month high of $63.28. The business's fifty day moving average price is $58.33 and its 200 day moving average price is $50.97. The company has a market cap of $6.09 billion, a P/E ratio of 19.95, a PEG ratio of 3.08 and a beta of 2.06.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.55. The business had revenue of $462.71 million for the quarter, compared to analyst estimates of $440.75 million. Red Rock Resorts had a net margin of 10.21% and a return on equity of 114.32%. The firm's revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.00 earnings per share. Equities analysts anticipate that Red Rock Resorts, Inc. will post 1.93 EPS for the current year.

Red Rock Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Thursday, March 14th. Red Rock Resorts's dividend payout ratio is presently 33.90%.

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.