Northern Trust Corp Has $23.55 Million Stock Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

Northern Trust Corp lowered its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 509,341 shares of the company's stock after selling 18,396 shares during the period. Northern Trust Corp owned approximately 0.48% of Red Rock Resorts worth $23,552,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of RRR. Sterling Capital Management LLC boosted its stake in Red Rock Resorts by 654.7% in the 4th quarter. Sterling Capital Management LLC now owns 883 shares of the company's stock worth $41,000 after purchasing an additional 766 shares during the period. KBC Group NV raised its position in Red Rock Resorts by 37.1% in the 4th quarter. KBC Group NV now owns 1,996 shares of the company's stock valued at $92,000 after buying an additional 540 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Red Rock Resorts by 47.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company's stock worth $95,000 after acquiring an additional 664 shares during the last quarter. Mayfair Advisory Group LLC grew its stake in shares of Red Rock Resorts by 15.1% during the 4th quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company's stock worth $208,000 after acquiring an additional 591 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new position in Red Rock Resorts during the fourth quarter worth $213,000. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Red Rock Resorts Price Performance

Shares of Red Rock Resorts stock traded down $0.05 on Friday, reaching $47.10. 486,947 shares of the stock were exchanged, compared to its average volume of 569,871. The firm's 50 day moving average is $42.84 and its 200-day moving average is $46.90. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02. Red Rock Resorts, Inc. has a one year low of $35.09 and a one year high of $61.73. The firm has a market cap of $4.99 billion, a PE ratio of 18.77, a P/E/G ratio of 4.32 and a beta of 1.64.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.33. The company had revenue of $497.86 million for the quarter, compared to analyst estimates of $499.12 million. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. The firm's revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 EPS. As a group, analysts anticipate that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The company also recently disclosed an annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Wednesday, May 14th will be issued a dividend of $1.00 per share. This represents a dividend yield of 2.29%. The ex-dividend date is Wednesday, May 14th. Red Rock Resorts's dividend payout ratio (DPR) is 38.76%.

Analyst Upgrades and Downgrades

RRR has been the subject of a number of recent research reports. Susquehanna reduced their price objective on shares of Red Rock Resorts from $61.00 to $52.00 and set a "positive" rating for the company in a research note on Wednesday, April 16th. Macquarie restated an "outperform" rating and issued a $58.00 price target on shares of Red Rock Resorts in a research note on Friday, May 2nd. Barclays cut their price objective on Red Rock Resorts from $58.00 to $54.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Stifel Nicolaus dropped their price target on shares of Red Rock Resorts from $54.00 to $44.00 and set a "hold" rating on the stock in a research report on Friday, May 2nd. Finally, Truist Financial decreased their price objective on shares of Red Rock Resorts from $56.00 to $45.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $52.64.

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.