Schonfeld Strategic Advisors LLC Purchases 69,902 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Schonfeld Strategic Advisors LLC lifted its holdings in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 801.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 78,622 shares of the company's stock after purchasing an additional 69,902 shares during the quarter. Schonfeld Strategic Advisors LLC owned approximately 0.07% of Red Rock Resorts worth $3,635,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of RRR. Barclays PLC raised its holdings in Red Rock Resorts by 227.9% during the third quarter. Barclays PLC now owns 78,932 shares of the company's stock valued at $4,297,000 after buying an additional 54,863 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Red Rock Resorts by 18.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 89,197 shares of the company's stock valued at $4,856,000 after acquiring an additional 14,148 shares in the last quarter. Ring Mountain Capital LLC acquired a new stake in Red Rock Resorts in the 4th quarter worth approximately $487,000. OFI Invest Asset Management bought a new stake in Red Rock Resorts during the fourth quarter worth approximately $2,054,000. Finally, Bank of New York Mellon Corp grew its holdings in Red Rock Resorts by 8.7% during the fourth quarter. Bank of New York Mellon Corp now owns 397,771 shares of the company's stock valued at $18,393,000 after purchasing an additional 31,858 shares during the last quarter. Institutional investors own 47.84% of the company's stock.

Wall Street Analyst Weigh In

RRR has been the subject of several research reports. Susquehanna reduced their price objective on Red Rock Resorts from $61.00 to $52.00 and set a "positive" rating for the company in a research report on Wednesday, April 16th. Morgan Stanley decreased their target price on Red Rock Resorts from $45.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Macquarie reaffirmed an "outperform" rating and issued a $58.00 price target on shares of Red Rock Resorts in a report on Friday, May 2nd. Stifel Nicolaus reduced their price objective on Red Rock Resorts from $54.00 to $44.00 and set a "hold" rating for the company in a research report on Friday, May 2nd. Finally, Truist Financial lowered their price objective on Red Rock Resorts from $56.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $52.83.

Red Rock Resorts Price Performance

Shares of NASDAQ RRR traded up $0.66 during midday trading on Wednesday, reaching $43.99. 412,632 shares of the company traded hands, compared to its average volume of 573,249. Red Rock Resorts, Inc. has a 12 month low of $35.09 and a 12 month high of $61.73. 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's 50-day simple moving average is $43.08 and its 200-day simple moving average is $47.16. The firm has a market cap of $4.66 billion, a PE ratio of 17.53, a PEG ratio of 4.32 and a beta of 1.64.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.33. The firm had revenue of $497.86 million during the quarter, compared to the consensus estimate of $499.12 million. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. The business's revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS. As a group, equities analysts anticipate that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The business also recently disclosed an annual dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Wednesday, May 14th will be issued a dividend of $1.00 per share. This represents a yield of 2.29%. The ex-dividend date is Wednesday, May 14th. 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.