Red Rock Resorts, Inc. (NASDAQ:RRR) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its stake in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 28.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,289,690 shares of the company's stock after selling 928,383 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.19% of Red Rock Resorts worth $122,109,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Valeo Financial Advisors LLC bought a new position in shares of Red Rock Resorts in the fourth quarter worth approximately $255,000. VELA Investment Management LLC bought a new position in shares of Red Rock Resorts in the fourth quarter worth approximately $256,000. Institute for Wealth Management LLC. boosted its position in shares of Red Rock Resorts by 4.2% in the fourth quarter. Institute for Wealth Management LLC. now owns 7,557 shares of the company's stock worth $403,000 after purchasing an additional 308 shares during the period. Jump Financial LLC boosted its position in shares of Red Rock Resorts by 59.0% in the third quarter. Jump Financial LLC now owns 11,173 shares of the company's stock worth $458,000 after purchasing an additional 4,146 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Red Rock Resorts by 13.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,201 shares of the company's stock worth $459,000 after purchasing an additional 1,330 shares during the period. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Frank J. Fertitta III sold 800,000 shares of the business's stock in a transaction on Monday, May 13th. The shares were sold at an average price of $50.39, for a total transaction of $40,312,000.00. Following the completion of the sale, the chief executive officer now directly owns 45,847,301 shares of the company's stock, valued at $2,310,245,497.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Frank J. Fertitta III sold 800,000 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $50.39, for a total value of $40,312,000.00. Following the transaction, the chief executive officer now owns 45,847,301 shares of the company's stock, valued at $2,310,245,497.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Stephen Lawrence Cootey sold 7,520 shares of the firm's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $57.74, for a total value of $434,204.80. Following the transaction, the chief financial officer now owns 243,808 shares in the company, valued at $14,077,473.92. The disclosure for this sale can be found here. Insiders own 53.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on RRR shares. Barclays dropped their price target on shares of Red Rock Resorts from $64.00 to $63.00 and set an "overweight" rating for the company in a research report on Wednesday, May 8th. Stifel Nicolaus lowered their target price on shares of Red Rock Resorts from $61.00 to $59.00 and set a "hold" rating on the stock in a report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Red Rock Resorts from $54.00 to $62.00 and gave the stock a "buy" rating in a report on Wednesday, January 24th. JPMorgan Chase & Co. boosted their target price on shares of Red Rock Resorts from $63.00 to $69.00 and gave the stock an "overweight" rating in a report on Monday, April 1st. Finally, Mizuho lowered their target price on shares of Red Rock Resorts from $69.00 to $66.00 and set a "buy" rating on the stock in a report on Wednesday, May 8th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $61.58.

Red Rock Resorts Trading Down 1.0 %

Shares of RRR traded down $0.54 during midday trading on Thursday, hitting $51.49. The stock had a trading volume of 352,366 shares, compared to its average volume of 447,546. The stock's 50 day moving average is $56.90 and its 200 day moving average is $52.85. The firm has a market cap of $5.42 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 2.74 and a beta of 2.08. The company has a debt-to-equity ratio of 18.49, a current ratio of 0.90 and a quick ratio of 0.76. Red Rock Resorts, Inc. has a 1 year low of $37.82 and a 1 year high of $63.28.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.18. Red Rock Resorts had a net margin of 9.79% and a return on equity of 98.44%. The company had revenue of $488.90 million for the quarter, compared to analyst estimates of $490.49 million. During the same period in the prior year, the company posted $0.75 EPS. The firm's revenue for the quarter was up 12.7% on a year-over-year basis. As a group, analysts forecast that Red Rock Resorts, Inc. will post 1.83 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.94%. Red Rock Resorts's payout ratio is 34.72%.

Red Rock Resorts 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.