Red Rock Resorts (NASDAQ:RRR) COO Kord Nichols Sells 37,075 Shares

Key Points

• Kord Nichols, COO of Red Rock Resorts, sold over $2.26 million worth of stock, significantly reducing his ownership by 29.87% to 87,036 shares.
• Red Rock Resorts reported robust quarterly earnings, with earnings per share of $0.95, exceeding estimates by $0.55, and a revenue increase of 8.2% year-over-year.
• The company declared a quarterly dividend of $0.25 per share, amounting to a 1.6% yield, payable on September 30th.

Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) COO Kord Nichols sold 37,075 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $61.03, for a total transaction of $2,262,687.25. Following the sale, the chief operating officer directly owned 87,036 shares of the company's stock, valued at approximately $5,311,807.08. This represents a 29.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Kord Nichols also recently made the following trade(s):

• On Wednesday, August 13th, Kord Nichols sold 5,250 shares of Red Rock Resorts stock. The shares were sold at an average price of $61.00, for a total transaction of $320,250.00.
• On Tuesday, August 12th, Kord Nichols sold 42,325 shares of Red Rock Resorts stock. The shares were sold at an average price of $58.61, for a total transaction of $2,480,668.25.

Red Rock Resorts Stock Down 1.7%

RRR traded down $1.09 on Friday, reaching $61.87. 617,190 shares of the company traded hands, compared to its average volume of 834,449. The stock's 50 day moving average price is $56.90 and its 200-day moving average price is $49.68. Red Rock Resorts, Inc. has a 52-week low of $35.09 and a 52-week high of $63.60. The company has a market cap of $6.53 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 2.50 and a beta of 1.66. The company has a debt-to-equity ratio of 11.28, a current ratio of 0.89 and a quick ratio of 0.84.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.55. The firm had revenue of $526.27 million for the quarter, compared to the consensus estimate of $485.44 million. Red Rock Resorts had a net margin of 8.89% and a return on equity of 59.97%. The firm's revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 earnings per share. On average, sell-side analysts expect that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. Red Rock Resorts's dividend payout ratio (DPR) is currently 34.01%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bamco Inc. NY raised its stake in Red Rock Resorts by 5.7% during the second quarter. Bamco Inc. NY now owns 12,269,004 shares of the company's stock worth $638,356,000 after acquiring an additional 666,593 shares in the last quarter. Eminence Capital LP raised its stake in Red Rock Resorts by 23.4% during the second quarter. Eminence Capital LP now owns 3,059,372 shares of the company's stock worth $159,179,000 after acquiring an additional 581,061 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in Red Rock Resorts by 10.7% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,773,603 shares of the company's stock worth $92,281,000 after acquiring an additional 171,235 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in Red Rock Resorts by 53.8% during the second quarter. Balyasny Asset Management L.P. now owns 793,371 shares of the company's stock worth $41,279,000 after acquiring an additional 277,426 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Red Rock Resorts by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 500,365 shares of the company's stock worth $23,138,000 after acquiring an additional 9,918 shares in the last quarter. 47.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on RRR shares. Susquehanna restated a "positive" rating and issued a $68.00 price objective (up previously from $65.00) on shares of Red Rock Resorts in a research note on Wednesday, July 30th. JMP Securities raised their price objective on shares of Red Rock Resorts from $57.00 to $64.00 and gave the stock a "market outperform" rating in a research note on Wednesday, July 30th. Macquarie restated an "outperform" rating and issued a $58.00 price objective on shares of Red Rock Resorts in a research note on Friday, May 2nd. Mizuho raised their price objective on shares of Red Rock Resorts from $59.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, Morgan Stanley raised their price objective on shares of Red Rock Resorts from $49.00 to $53.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.73.

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.