Geode Capital Management LLC Has $63.78 Million Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

Geode Capital Management LLC raised its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 1.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,171,267 shares of the company's stock after purchasing an additional 14,029 shares during the period. Geode Capital Management LLC owned about 1.11% of Red Rock Resorts worth $63,776,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Avior Wealth Management LLC boosted its holdings in Red Rock Resorts by 3.0% in the third quarter. Avior Wealth Management LLC now owns 7,898 shares of the company's stock worth $430,000 after purchasing an additional 232 shares during the period. Truist Financial Corp boosted its holdings in shares of Red Rock Resorts by 0.9% in the 2nd quarter. Truist Financial Corp now owns 27,545 shares of the company's stock valued at $1,513,000 after buying an additional 241 shares during the period. Arizona State Retirement System grew its position in shares of Red Rock Resorts by 3.3% during 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. WCG Wealth Advisors LLC raised its stake in Red Rock Resorts by 2.5% during the second quarter. WCG Wealth Advisors LLC now owns 18,325 shares of the company's stock worth $1,007,000 after acquiring an additional 450 shares during the period. Finally, King Luther Capital Management Corp lifted its holdings in Red Rock Resorts by 1.2% in the third quarter. King Luther Capital Management Corp now owns 64,043 shares of the company's stock worth $3,487,000 after acquiring an additional 765 shares during the last quarter. 47.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. 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. Macquarie dropped their price objective on shares of Red Rock Resorts from $65.00 to $64.00 and set an "outperform" rating on the stock in a report on Friday, November 8th. JMP Securities reissued a "market outperform" rating and set a $65.00 target price on shares of Red Rock Resorts in a research note on Monday, October 14th. Mizuho lowered shares of Red Rock Resorts from an "outperform" rating to a "neutral" rating and dropped their price target for the company from $57.00 to $44.00 in a research note on Monday, November 25th. Finally, Truist Financial reduced their price objective on Red Rock Resorts from $63.00 to $58.00 and set a "hold" rating for the company in a research report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $60.42.

Red Rock Resorts Stock Performance

Shares of NASDAQ RRR traded up $0.38 during trading hours on Friday, hitting $45.78. 628,078 shares of the company's stock were exchanged, compared to its average volume of 495,502. The company's 50-day moving average price is $50.89 and its 200-day moving average price is $53.45. Red Rock Resorts, Inc. has a 1-year low of $44.94 and a 1-year high of $63.28. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 6.69 and a beta of 2.00. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96.

Red Rock Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a $0.25 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.00 annualized dividend and a dividend yield of 2.18%. Red Rock Resorts's payout ratio is 37.04%.

Red Rock Resorts Company 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.