Raymond James Financial Inc. bought a new position in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,318 shares of the company's stock, valued at approximately $292,000.
Several other large investors have also made changes to their positions in the company. KBC Group NV boosted its position in Red Rock Resorts by 37.1% during the 4th quarter. KBC Group NV now owns 1,996 shares of the company's stock worth $92,000 after purchasing an additional 540 shares during the period. Mayfair Advisory Group LLC lifted its stake in shares of Red Rock Resorts by 15.1% during the fourth quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company's stock worth $208,000 after purchasing an additional 591 shares in the last quarter. Cibc World Markets Corp acquired a new stake in shares of Red Rock Resorts in the fourth quarter valued at about $213,000. Versor Investments LP grew its stake in shares of Red Rock Resorts by 52.5% in the fourth quarter. Versor Investments LP now owns 6,100 shares of the company's stock valued at $282,000 after buying an additional 2,100 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in shares of Red Rock Resorts during the 4th quarter valued at about $366,000. 47.84% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages have recently weighed in on RRR. Susquehanna decreased their target price 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. Morgan Stanley dropped their target price on Red Rock Resorts from $45.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Stifel Nicolaus reduced their price target on Red Rock Resorts from $54.00 to $44.00 and set a "hold" rating for the company in a report on Friday, May 2nd. Macquarie restated an "outperform" rating and set a $58.00 price objective on shares of Red Rock Resorts in a report on Friday, May 2nd. Finally, Barclays reduced their target price on Red Rock Resorts from $58.00 to $54.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Red Rock Resorts currently has a consensus rating of "Hold" and an average target price of $52.64.
Check Out Our Latest Analysis on Red Rock Resorts
Red Rock Resorts Stock Performance
RRR traded down $0.79 during trading hours on Wednesday, hitting $47.20. 596,709 shares of the stock were exchanged, compared to its average volume of 569,254. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. Red Rock Resorts, Inc. has a 12 month low of $35.09 and a 12 month high of $61.73. The stock has a 50-day simple moving average of $42.79 and a 200-day simple moving average of $46.95. The stock has a market cap of $5.01 billion, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 4.32 and a beta of 1.64.
Red Rock Resorts (NASDAQ:RRR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.33. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. The company had revenue of $497.86 million for the quarter, compared to the consensus estimate of $499.12 million. During the same period last year, the firm posted $0.68 EPS. The company's revenue for the quarter was up 1.8% on a year-over-year basis. Analysts anticipate that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current year.
Red Rock Resorts Announces Dividend
The firm also recently announced an annual dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Wednesday, May 14th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a yield of 2.29%. Red Rock Resorts's dividend payout ratio is currently 38.76%.
Red Rock Resorts Profile
(
Free Report)
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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