Red Rock Resorts, Inc. (NASDAQ:RRR) Shares Purchased by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP grew its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 349.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,267 shares of the company's stock after purchasing an additional 19,647 shares during the quarter. Brevan Howard Capital Management LP's holdings in Red Rock Resorts were worth $1,168,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in RRR. Barclays PLC lifted its holdings in shares of Red Rock Resorts by 227.9% in the 3rd quarter. Barclays PLC now owns 78,932 shares of the company's stock worth $4,297,000 after buying an additional 54,863 shares during the period. JPMorgan Chase & Co. lifted its stake in Red Rock Resorts by 18.9% in the third quarter. JPMorgan Chase & Co. now owns 89,197 shares of the company's stock worth $4,856,000 after acquiring an additional 14,148 shares during the period. Mayfair Advisory Group LLC lifted its stake in Red Rock Resorts by 15.1% in the fourth quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company's stock worth $208,000 after acquiring an additional 591 shares during the period. Avior Wealth Management LLC grew its holdings in Red Rock Resorts by 11.8% during the 4th quarter. Avior Wealth Management LLC now owns 8,828 shares of the company's stock worth $408,000 after acquiring an additional 930 shares in the last quarter. Finally, KBC Group NV increased 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 valued at $92,000 after purchasing an additional 540 shares during the period. 47.84% of the stock is owned by hedge funds and other institutional investors.

Red Rock Resorts Stock Performance

Shares of NASDAQ:RRR traded up $0.24 during trading on Friday, hitting $44.40. 441,060 shares of the stock traded hands, compared to its average volume of 565,438. The company has a fifty day moving average price of $42.79 and a two-hundred day moving average price of $47.01. Red Rock Resorts, Inc. has a 52-week low of $35.09 and a 52-week high of $61.73. The company has a market cap of $4.71 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 4.32 and a beta of 1.64. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.80 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 return on equity of 71.00% and a net margin of 7.94%. Red Rock Resorts's quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the company earned $0.68 earnings per share. As a group, equities analysts predict that Red Rock Resorts, Inc. will post 1.76 EPS for the current year.

Red Rock Resorts Dividend Announcement

The business also recently declared an annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Wednesday, May 14th will be issued a $1.00 dividend. This represents a yield of 2.29%. The ex-dividend date of this dividend is Wednesday, May 14th. Red Rock Resorts's payout ratio is presently 38.76%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RRR. Truist Financial dropped their price objective on shares of Red Rock Resorts from $56.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Morgan Stanley cut their price target on Red Rock Resorts from $45.00 to $43.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Macquarie reissued an "outperform" rating and issued a $58.00 price target on shares of Red Rock Resorts in a research report on Friday, May 2nd. JMP Securities dropped their price objective on Red Rock Resorts from $59.00 to $55.00 and set a "market outperform" rating on the stock in a research report on Thursday, April 17th. Finally, Stifel Nicolaus reduced their target price 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. Seven 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, the stock has an average rating of "Hold" and an average target price of $52.83.

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.