JPMorgan Chase & Co. Boosts Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

JPMorgan Chase & Co. raised its stake in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 18.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,197 shares of the company's stock after acquiring an additional 14,148 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.08% of Red Rock Resorts worth $4,856,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quarry LP raised its position in shares of Red Rock Resorts by 479.4% in the third quarter. Quarry LP now owns 1,124 shares of the company's stock valued at $61,000 after purchasing an additional 930 shares during the period. US Bancorp DE increased its holdings in Red Rock Resorts by 2,223.9% during the 3rd quarter. US Bancorp DE now owns 1,557 shares of the company's stock worth $85,000 after acquiring an additional 1,490 shares during the period. Point72 DIFC Ltd bought a new stake in Red Rock Resorts during the 2nd quarter worth approximately $98,000. nVerses Capital LLC increased its holdings in Red Rock Resorts by 28.6% during the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company's stock worth $196,000 after acquiring an additional 800 shares during the period. Finally, Ritholtz Wealth Management bought a new stake in Red Rock Resorts during the 3rd quarter worth approximately $215,000. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RRR has been the topic of a number of analyst reports. JMP Securities decreased their target price on shares of Red Rock Resorts from $61.00 to $57.00 and set a "market outperform" rating on the stock in a report on Thursday. Barclays decreased their target price on shares of Red Rock Resorts from $65.00 to $62.00 and set an "overweight" rating on the stock in a report on Friday, November 8th. Jefferies Financial Group reissued a "hold" rating and issued a $51.00 price target (down previously from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. Mizuho lowered shares of Red Rock Resorts from an "outperform" rating to a "neutral" rating and decreased their price target for the stock from $57.00 to $44.00 in a report on Monday, November 25th. Finally, Macquarie decreased their price target 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. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $58.38.

Red Rock Resorts Trading Down 0.0 %

Shares of Red Rock Resorts stock traded down $0.01 during trading on Friday, reaching $46.73. The company's stock had a trading volume of 523,383 shares, compared to its average volume of 386,174. Red Rock Resorts, Inc. has a 52-week low of $42.46 and a 52-week high of $63.28. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 4.75 and a beta of 2.01. The firm's 50-day moving average is $48.01 and its two-hundred day moving average is $52.50. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.25 per share. The ex-dividend date was Monday, December 16th. This represents a $1.00 annualized dividend and a yield of 2.14%. Red Rock Resorts's payout ratio is currently 37.04%.

About Red Rock Resorts

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.