Arrowstreet Capital Limited Partnership Acquires 264,609 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Arrowstreet Capital Limited Partnership grew its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 167.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 422,447 shares of the company's stock after buying an additional 264,609 shares during the period. Arrowstreet Capital Limited Partnership owned 0.40% of Red Rock Resorts worth $19,534,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP grew its holdings in shares of Red Rock Resorts by 479.4% during the 3rd quarter. Quarry LP now owns 1,124 shares of the company's stock worth $61,000 after purchasing an additional 930 shares during the period. KBC Group NV increased its holdings in Red Rock Resorts by 37.1% in the fourth quarter. KBC Group NV now owns 1,996 shares of the company's stock valued at $92,000 after buying an additional 540 shares during the last quarter. Mayfair Advisory Group LLC raised its position in shares of Red Rock Resorts by 15.1% during the 4th quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company's stock worth $208,000 after acquiring an additional 591 shares in the last quarter. Cibc World Markets Corp acquired a new stake in Red Rock Resorts during the fourth quarter worth approximately $213,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Red Rock Resorts during the 3rd quarter worth $233,000. Hedge funds and other institutional investors own 47.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on RRR shares. Mizuho raised their price target on Red Rock Resorts from $44.00 to $52.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Jefferies Financial Group reiterated a "hold" rating and set a $51.00 target price (down from $64.00) on shares of Red Rock Resorts in a research report on Friday, January 3rd. Susquehanna raised their target price on shares of Red Rock Resorts from $60.00 to $61.00 and gave the company a "positive" rating in a report on Wednesday, February 12th. Stifel Nicolaus lifted their price objective on Red Rock Resorts from $50.00 to $54.00 and gave the stock a "hold" rating in a research report on Wednesday, February 12th. Finally, JMP Securities cut their price objective on shares of Red Rock Resorts from $61.00 to $57.00 and set a "market outperform" rating for the company in a research report on Thursday, January 16th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $57.33.

Red Rock Resorts Trading Down 2.3 %

RRR stock traded down $0.87 during midday trading on Tuesday, reaching $37.60. The stock had a trading volume of 875,807 shares, compared to its average volume of 557,716. Red Rock Resorts, Inc. has a twelve month low of $35.09 and a twelve month high of $62.25. The business has a fifty day simple moving average of $46.77 and a two-hundred day simple moving average of $48.82. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 4.32 and a beta of 1.69.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.34. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. As a group, research analysts expect that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 2.66%. Red Rock Resorts's dividend payout ratio is 39.84%.

Red Rock Resorts Profile

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.