Comerica Bank Has $16.72 Million Stock Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

Comerica Bank boosted its position in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 19.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 361,480 shares of the company's stock after acquiring an additional 59,303 shares during the quarter. Comerica Bank owned 0.34% of Red Rock Resorts worth $16,715,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Barclays PLC boosted its stake 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 valued at $4,297,000 after purchasing an additional 54,863 shares in the last quarter. Virtu Financial LLC acquired a new stake in Red Rock Resorts in the third quarter valued at approximately $345,000. JPMorgan Chase & Co. grew its stake in shares of Red Rock Resorts by 18.9% during the third quarter. JPMorgan Chase & Co. now owns 89,197 shares of the company's stock worth $4,856,000 after buying an additional 14,148 shares during the last quarter. Mayfair Advisory Group LLC increased its holdings 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 buying an additional 591 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its stake in shares of Red Rock Resorts by 11.8% in the 4th quarter. Avior Wealth Management LLC now owns 8,828 shares of the company's stock valued at $408,000 after acquiring an additional 930 shares during the last quarter. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RRR has been the subject of a number of recent research reports. Mizuho lowered their target price on Red Rock Resorts from $52.00 to $50.00 and set a "neutral" rating for the company in a report on Friday. JMP Securities lowered their price objective 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. Stifel Nicolaus cut their target price 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. Truist Financial decreased 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 research report on Wednesday, April 23rd. Finally, Susquehanna dropped their price target 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. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $52.83.

Red Rock Resorts Trading Up 3.6 %

Shares of Red Rock Resorts stock traded up $1.54 on Friday, hitting $43.81. 783,333 shares of the company's stock traded hands, compared to its average volume of 574,117. The company has a fifty day moving average of $43.33 and a two-hundred day moving average of $47.24. Red Rock Resorts, Inc. has a one year low of $35.09 and a one year high of $61.73. The company has a market capitalization of $4.65 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 4.32 and a beta of 1.64. 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 (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. The firm had revenue of $497.86 million for the quarter, compared to analysts' expectations of $499.12 million. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. The company's revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.68 EPS. As a group, sell-side analysts expect that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, June 16th. This represents a $1.00 annualized dividend and a dividend yield of 2.28%. Red Rock Resorts's dividend payout ratio is currently 38.76%.

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.