Invesco Ltd. Sells 652,736 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Invesco Ltd. lowered its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 90.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,484 shares of the company's stock after selling 652,736 shares during the period. Invesco Ltd. owned 0.07% of Red Rock Resorts worth $3,259,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in RRR. KBC Group NV raised its stake in Red Rock Resorts by 37.1% in the fourth quarter. KBC Group NV now owns 1,996 shares of the company's stock valued at $92,000 after buying an additional 540 shares during the period. Mayfair Advisory Group LLC lifted its holdings 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. Cibc World Markets Corp bought a new stake in shares of Red Rock Resorts during the 4th quarter worth about $213,000. Versor Investments LP lifted its position in Red Rock Resorts by 52.5% during the fourth quarter. Versor Investments LP now owns 6,100 shares of the company's stock worth $282,000 after acquiring an additional 2,100 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Red Rock Resorts in the fourth quarter valued at approximately $292,000. Institutional investors own 47.84% of the company's stock.

Red Rock Resorts Price Performance

Shares of RRR stock traded up $0.73 on Tuesday, reaching $43.59. The company had a trading volume of 638,952 shares, compared to its average volume of 567,953. The business's 50-day moving average is $43.82 and its 200 day moving average is $47.48. Red Rock Resorts, Inc. has a one year low of $35.09 and a one year high of $61.73. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The stock has a market capitalization of $4.62 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 4.32 and a beta of 1.69.

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

Red Rock Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors 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 dividend on an annualized basis and a yield of 2.29%. Red Rock Resorts's dividend payout ratio is currently 39.84%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Jefferies Financial Group reissued a "hold" rating and set a $51.00 price target (down from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. Mizuho boosted their target price on shares of Red Rock Resorts from $44.00 to $52.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. Barclays lowered their price target on shares of Red Rock Resorts from $58.00 to $54.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Susquehanna cut their price objective on shares of Red Rock Resorts from $61.00 to $52.00 and set a "positive" rating for the company in a report on Wednesday, April 16th. Finally, Truist Financial decreased their target price on shares of Red Rock Resorts from $56.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $54.33.

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.