FMR LLC reduced its position in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 9.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,549,267 shares of the company's stock after selling 484,824 shares during the period. FMR LLC owned about 4.31% of Red Rock Resorts worth $247,662,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new stake in Red Rock Resorts during the third quarter worth about $1,776,000. Westfield Capital Management Co. LP increased its position in shares of Red Rock Resorts by 3.5% in the third quarter. Westfield Capital Management Co. LP now owns 1,134,509 shares of the company's stock worth $61,763,000 after acquiring an additional 38,443 shares in the last quarter. Cerity Partners LLC raised its stake in shares of Red Rock Resorts by 637.0% in the 3rd quarter. Cerity Partners LLC now owns 74,001 shares of the company's stock valued at $4,029,000 after acquiring an additional 63,960 shares during the period. Citigroup Inc. raised its position in Red Rock Resorts by 77.2% in the third quarter. Citigroup Inc. now owns 66,445 shares of the company's stock valued at $3,617,000 after purchasing an additional 28,948 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Red Rock Resorts by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 577,108 shares of the company's stock worth $31,418,000 after purchasing an additional 4,810 shares in the last quarter. 47.84% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have recently commented on RRR. Truist Financial reduced their target price on shares of Red Rock Resorts from $63.00 to $58.00 and set a "hold" rating on the stock in a research report on Wednesday, October 23rd. Wells Fargo & Company lowered their target price on Red Rock Resorts from $64.00 to $58.00 and set an "equal weight" rating for the company in a research note on Thursday, October 17th. Mizuho downgraded Red Rock Resorts from an "outperform" rating to a "neutral" rating and reduced their price target for the company from $57.00 to $44.00 in a report on Monday, November 25th. Barclays dropped their price objective on Red Rock Resorts from $65.00 to $62.00 and set an "overweight" rating on the stock in a report on Friday, November 8th. Finally, Macquarie reduced their target price on Red Rock Resorts from $65.00 to $64.00 and set an "outperform" rating for the company in a research note on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Red Rock Resorts has a consensus rating of "Moderate Buy" and an average price target of $60.42.
View Our Latest Stock Analysis on RRR
Red Rock Resorts Stock Performance
Shares of RRR traded up $1.64 during mid-day trading on Monday, reaching $51.73. 751,106 shares of the company's stock traded hands, compared to its average volume of 493,075. Red Rock Resorts, Inc. has a 12 month low of $43.38 and a 12 month high of $63.28. The stock has a market capitalization of $5.46 billion, a P/E ratio of 18.55, a price-to-earnings-growth ratio of 6.21 and a beta of 2.04. The business's 50-day moving average price is $52.39 and its 200-day moving average price is $53.62. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02.
Red Rock Resorts Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.93%. The ex-dividend date is Monday, December 16th. Red Rock Resorts's dividend payout ratio (DPR) is currently 37.04%.
Red Rock Resorts Company Profile
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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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