Raymond James Financial Inc. Takes $292,000 Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

Raymond James Financial Inc. bought a new position in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,318 shares of the company's stock, valued at approximately $292,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Red Rock Resorts by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 5,181,146 shares of the company's stock worth $239,576,000 after acquiring an additional 50,193 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in Red Rock Resorts by 20.6% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,344,058 shares of the company's stock worth $62,149,000 after acquiring an additional 229,843 shares during the period. Charles Schwab Investment Management Inc. raised its position in Red Rock Resorts by 7.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 621,151 shares of the company's stock worth $28,722,000 after acquiring an additional 44,043 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Red Rock Resorts by 167.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 422,447 shares of the company's stock valued at $19,534,000 after purchasing an additional 264,609 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Red Rock Resorts by 8.7% in the 4th quarter. Bank of New York Mellon Corp now owns 397,771 shares of the company's stock worth $18,393,000 after buying an additional 31,858 shares in the last quarter. Hedge funds and other institutional investors own 47.84% of the company's stock.

Analyst Upgrades and Downgrades

RRR has been the subject of a number of recent analyst reports. Mizuho dropped their price target on shares of Red Rock Resorts from $52.00 to $50.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Stifel Nicolaus decreased their price objective on shares of Red Rock Resorts from $54.00 to $44.00 and set a "hold" rating for the company in a report on Friday, May 2nd. JMP Securities decreased their price objective on shares of Red Rock Resorts from $59.00 to $55.00 and set a "market outperform" rating for the company in a report on Thursday, April 17th. Truist Financial reduced their price target on shares of Red Rock Resorts from $56.00 to $45.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Finally, Macquarie restated an "outperform" rating and issued a $58.00 price target on shares of Red Rock Resorts in a report on Friday, May 2nd. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Red Rock Resorts presently has a consensus rating of "Hold" and an average target price of $52.64.

Red Rock Resorts Stock Down 0.7%

Shares of NASDAQ RRR traded down $0.35 during trading hours on Friday, hitting $46.81. 82,395 shares of the stock were exchanged, compared to its average volume of 568,326. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The company has a market cap of $4.96 billion, a PE ratio of 18.71, a PEG ratio of 4.32 and a beta of 1.64. The firm has a fifty day moving average price of $42.84 and a 200-day moving average price of $46.90. Red Rock Resorts, Inc. has a 12 month low of $35.09 and a 12 month high of $61.73.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.47 by $0.33. The firm had revenue of $497.86 million during 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%. Red Rock Resorts's revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.68 EPS. On average, sell-side analysts expect that Red Rock Resorts, Inc. will post 1.76 EPS for the current 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 paid a dividend of $1.00 per share. The ex-dividend date is Wednesday, May 14th. This represents a dividend yield of 2.29%. Red Rock Resorts's dividend payout ratio (DPR) is presently 38.76%.

Red Rock Resorts Company 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.