Dynamic Technology Lab Private Ltd purchased a new stake in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 32,623 shares of the company's stock, valued at approximately $1,776,000.
Other large investors also recently made changes to their positions in the company. Avior Wealth Management LLC boosted its position in Red Rock Resorts by 3.0% during the 3rd quarter. Avior Wealth Management LLC now owns 7,898 shares of the company's stock worth $430,000 after acquiring an additional 232 shares during the last quarter. Truist Financial Corp grew its position in Red Rock Resorts by 0.9% in the second quarter. Truist Financial Corp now owns 27,545 shares of the company's stock valued at $1,513,000 after purchasing an additional 241 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Red Rock Resorts by 3.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 8,042 shares of the company's stock valued at $442,000 after buying an additional 292 shares during the last quarter. Arizona State Retirement System increased its stake in Red Rock Resorts by 3.3% in the 2nd quarter. Arizona State Retirement System now owns 14,086 shares of the company's stock valued at $774,000 after buying an additional 444 shares during the last quarter. Finally, WCG Wealth Advisors LLC lifted its position in Red Rock Resorts by 2.5% during the 2nd quarter. WCG Wealth Advisors LLC now owns 18,325 shares of the company's stock worth $1,007,000 after buying an additional 450 shares in the last quarter. Institutional investors own 47.84% of the company's stock.
Red Rock Resorts Stock Performance
Red Rock Resorts stock traded down $0.74 during trading hours on Tuesday, hitting $49.75. The company had a trading volume of 389,846 shares, compared to its average volume of 493,609. The firm has a 50-day moving average of $52.71 and a 200 day moving average of $53.64. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. The firm has a market cap of $5.25 billion, a PE ratio of 18.43, a PEG ratio of 6.30 and a beta of 2.04. Red Rock Resorts, Inc. has a one year low of $43.38 and a one year high of $63.28.
Red Rock Resorts Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.01%. Red Rock Resorts's dividend payout ratio (DPR) is currently 37.04%.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on RRR shares. JMP Securities reaffirmed a "market outperform" rating and issued a $65.00 target price on shares of Red Rock Resorts in a research report on Monday, October 14th. Morgan Stanley upped their price objective on Red Rock Resorts from $54.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Wednesday, September 4th. Truist Financial decreased their target price on shares of Red Rock Resorts from $63.00 to $58.00 and set a "hold" rating for the company in a research note on Wednesday, October 23rd. Wells Fargo & Company dropped their price target on shares of Red Rock Resorts from $64.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 17th. Finally, Barclays decreased their price objective on shares of Red Rock Resorts from $65.00 to $62.00 and set an "overweight" rating for the company in a research report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $60.42.
Get Our Latest Analysis on Red Rock Resorts
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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