T. Rowe Price Investment Management Inc. raised its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,225,188 shares of the company's stock after buying an additional 38,620 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 1.16% of Red Rock Resorts worth $56,653,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Sterling Capital Management LLC grew its position in shares of 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 buying an additional 766 shares during the last quarter. KBC Group NV grew its position in shares of Red Rock Resorts by 37.1% in the 4th quarter. KBC Group NV now owns 1,996 shares of the company's stock worth $92,000 after buying an additional 540 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Red Rock Resorts by 47.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company's stock worth $95,000 after buying an additional 664 shares during the last quarter. Mayfair Advisory Group LLC grew its position in shares of Red Rock Resorts by 15.1% in the 4th quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company's stock worth $208,000 after buying an additional 591 shares during the last quarter. Finally, Cibc World Markets Corp bought a new stake in shares of Red Rock Resorts in the 4th quarter worth approximately $213,000. 47.84% of the stock is currently owned by institutional investors.
Red Rock Resorts Stock Down 1.5 %
Shares of RRR stock traded down $0.63 during mid-day trading on Thursday, hitting $42.08. The company's stock had a trading volume of 417,811 shares, compared to its average volume of 568,582. Red Rock Resorts, Inc. has a 52-week low of $35.09 and a 52-week high of $61.73. The business has a 50-day moving average price of $43.64 and a 200 day moving average price of $47.45. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02. The stock has a market cap of $4.46 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 4.32 and a beta of 1.69.
Red Rock Resorts (NASDAQ:RRR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. Research analysts predict that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.
Red Rock Resorts Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend was Monday, March 17th. Red Rock Resorts's dividend payout ratio is currently 39.84%.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on RRR. Barclays lowered 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. Morgan Stanley lowered their target price on Red Rock Resorts from $45.00 to $43.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Truist Financial lowered their target price on Red Rock Resorts from $56.00 to $45.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Mizuho raised their target price on Red Rock Resorts from $44.00 to $52.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. Finally, JMP Securities lowered their target price on Red Rock Resorts from $59.00 to $55.00 and set a "market outperform" rating for the company in a research note on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $54.33.
Get Our Latest Stock Analysis on RRR
About Red Rock Resorts
(
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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