Headlands Technologies LLC Purchases 11,093 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Headlands Technologies LLC boosted its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 200.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,635 shares of the company's stock after purchasing an additional 11,093 shares during the quarter. Headlands Technologies LLC's holdings in Red Rock Resorts were worth $769,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arizona State Retirement System increased its position in Red Rock Resorts by 1.5% in the 4th quarter. Arizona State Retirement System now owns 14,707 shares of the company's stock worth $680,000 after buying an additional 216 shares during the period. KBC Group NV increased its position in Red Rock Resorts by 37.1% during the fourth quarter. KBC Group NV now owns 1,996 shares of the company's stock worth $92,000 after acquiring an additional 540 shares during the period. Mayfair Advisory Group LLC raised its stake in Red Rock Resorts by 15.1% during the 4th quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company's stock valued at $208,000 after purchasing an additional 591 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in Red Rock Resorts by 11.8% in the 4th quarter. Avior Wealth Management LLC now owns 8,828 shares of the company's stock valued at $408,000 after purchasing an additional 930 shares during the period. Finally, Quarry LP grew its position in Red Rock Resorts by 479.4% in 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 last quarter. Institutional investors and hedge funds own 47.84% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RRR. 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. Stifel Nicolaus boosted their price objective on Red Rock Resorts from $50.00 to $54.00 and gave the company a "hold" rating in a research report on Wednesday, February 12th. Susquehanna boosted 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. Jefferies Financial Group reaffirmed a "hold" rating and set a $51.00 price objective (down from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. Finally, Truist Financial decreased their target price on shares of Red Rock Resorts from $56.00 to $49.00 and set a "hold" rating on the stock in a research report on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $57.33.

Red Rock Resorts Price Performance

NASDAQ RRR traded up $0.29 on Monday, hitting $37.91. 610,187 shares of the company were exchanged, compared to its average volume of 548,967. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. The company has a market cap of $4.02 billion, a P/E ratio of 14.93, a P/E/G ratio of 4.32 and a beta of 1.69. Red Rock Resorts, Inc. has a 1-year low of $35.28 and a 1-year high of $62.25. The firm has a 50 day moving average of $47.37 and a two-hundred day moving average of $49.12.

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

Red Rock Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.25 per share. The ex-dividend date was Monday, March 17th. This represents a $1.00 annualized dividend and a dividend yield of 2.64%. Red Rock Resorts's payout ratio is currently 39.84%.

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.