Red Rock Resorts, Inc. (NASDAQ:RRR) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lessened its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 9.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 872,202 shares of the company's stock after selling 85,993 shares during the quarter. Franklin Resources Inc. owned approximately 0.83% of Red Rock Resorts worth $40,331,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in RRR. Arrowstreet Capital Limited Partnership raised its holdings in Red Rock Resorts by 167.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 422,447 shares of the company's stock valued at $19,534,000 after acquiring an additional 264,609 shares during the last quarter. Norges Bank purchased a new stake in shares of Red Rock Resorts in the fourth quarter valued at $5,352,000. JPMorgan Chase & Co. increased its stake in Red Rock Resorts by 5.7% in the fourth quarter. JPMorgan Chase & Co. now owns 94,255 shares of the company's stock valued at $4,358,000 after purchasing an additional 5,058 shares during the last quarter. Vanguard Group Inc. lifted its position in Red Rock Resorts by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 5,181,146 shares of the company's stock worth $239,576,000 after buying an additional 50,193 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in Red Rock Resorts in the 4th quarter worth about $407,000. Institutional investors and hedge funds own 47.84% of the company's stock.

Red Rock Resorts Stock Down 5.9 %

Shares of RRR traded down $2.48 during mid-day trading on Thursday, reaching $39.93. 78,610 shares of the stock traded hands, compared to its average volume of 558,458. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of 15.93, a P/E/G ratio of 4.32 and a beta of 1.69. The stock has a fifty day simple moving average of $46.49 and a 200 day simple moving average of $48.70. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. Red Rock Resorts, Inc. has a 12-month low of $35.09 and a 12-month high of $61.73.

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

Red Rock Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.50%. The ex-dividend date was Monday, March 17th. Red Rock Resorts's dividend payout ratio is currently 39.84%.

Wall Street Analysts Forecast Growth

RRR has been the topic of several recent analyst reports. Mizuho increased their price objective on shares of Red Rock Resorts from $44.00 to $52.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Stifel Nicolaus increased their price target on shares of Red Rock Resorts from $50.00 to $54.00 and gave the stock a "hold" rating in a research note on Wednesday, February 12th. Susquehanna lifted their price target 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. JMP Securities cut their target price on Red Rock Resorts from $61.00 to $57.00 and set a "market outperform" rating on the stock in a research report on Thursday, January 16th. Finally, Truist Financial dropped their price target on Red Rock Resorts from $56.00 to $49.00 and set a "hold" rating for the company in a research note on Tuesday, January 14th. Seven 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 stock has an average rating of "Hold" and an average price target of $57.33.

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.