89,340 Shares in Red Rock Resorts, Inc. (NASDAQ:RRR) Acquired by Point72 Asset Management L.P.

Point72 Asset Management L.P. purchased a new position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 89,340 shares of the company's stock, valued at approximately $4,907,000. Point72 Asset Management L.P. owned approximately 0.08% of Red Rock Resorts as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC raised its stake in shares of Red Rock Resorts by 3.8% in the second quarter. Sequoia Financial Advisors LLC now owns 8,042 shares of the company's stock valued at $442,000 after acquiring an additional 292 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Red Rock Resorts by 3.3% in the second quarter. Arizona State Retirement System now owns 14,086 shares of the company's stock valued at $774,000 after acquiring an additional 444 shares in the last quarter. WCG Wealth Advisors LLC raised its stake in shares of Red Rock Resorts by 2.5% in the second quarter. WCG Wealth Advisors LLC now owns 18,325 shares of the company's stock valued at $1,007,000 after acquiring an additional 450 shares in the last quarter. Covestor Ltd raised its stake in shares of Red Rock Resorts by 16,666.7% in the first quarter. Covestor Ltd now owns 503 shares of the company's stock valued at $30,000 after acquiring an additional 500 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of Red Rock Resorts by 8.5% in the first quarter. ProShare Advisors LLC now owns 8,559 shares of the company's stock valued at $512,000 after acquiring an additional 674 shares in the last quarter. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Red Rock Resorts

In other news, VP Lorenzo J. Fertitta acquired 33,000 shares of Red Rock Resorts stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average price of $54.49 per share, for a total transaction of $1,798,170.00. Following the completion of the transaction, the vice president now directly owns 47,480,301 shares in the company, valued at $2,587,201,601.49. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Kord Nichols sold 49,464 shares of Red Rock Resorts stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $58.00, for a total transaction of $2,868,912.00. Following the completion of the sale, the chief operating officer now directly owns 71,946 shares in the company, valued at approximately $4,172,868. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Lorenzo J. Fertitta purchased 33,000 shares of Red Rock Resorts stock in a transaction dated Thursday, August 1st. The shares were bought at an average price of $54.49 per share, with a total value of $1,798,170.00. Following the completion of the transaction, the vice president now owns 47,480,301 shares in the company, valued at approximately $2,587,201,601.49. The disclosure for this purchase can be found here. Insiders bought a total of 200,000 shares of company stock worth $10,426,000 over the last 90 days. Company insiders own 53.28% of the company's stock.

Red Rock Resorts Stock Performance

Shares of NASDAQ RRR traded up $0.86 during midday trading on Wednesday, reaching $54.98. 549,302 shares of the company were exchanged, compared to its average volume of 459,031. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 15.15. Red Rock Resorts, Inc. has a 1 year low of $37.82 and a 1 year high of $63.28. The stock has a fifty day simple moving average of $55.06 and a 200 day simple moving average of $55.12. The stock has a market cap of $5.81 billion, a P/E ratio of 19.09, a PEG ratio of 5.47 and a beta of 2.04.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.16. Red Rock Resorts had a return on equity of 83.84% and a net margin of 9.21%. The firm had revenue of $486.40 million for the quarter, compared to analyst estimates of $475.80 million. During the same quarter last year, the company posted $0.65 earnings per share. The business's revenue was up 16.9% on a year-over-year basis. On average, research analysts forecast that Red Rock Resorts, Inc. will post 1.66 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.82%. Red Rock Resorts's payout ratio is currently 34.72%.

Analyst Ratings Changes

RRR has been the topic of several recent analyst reports. Macquarie increased their target price on Red Rock Resorts from $62.00 to $65.00 and gave the company an "outperform" rating in a report on Wednesday, July 24th. Barclays increased their target price on Red Rock Resorts from $63.00 to $65.00 and gave the company an "overweight" rating in a report on Wednesday, July 24th. Wells Fargo & Company lowered Red Rock Resorts from an "overweight" rating to an "equal weight" rating and increased their target price for the company from $63.00 to $64.00 in a report on Wednesday, July 24th. Susquehanna increased their target price on Red Rock Resorts from $63.00 to $70.00 and gave the company a "positive" rating in a report on Wednesday, July 24th. Finally, Stifel Nicolaus increased their target price on Red Rock Resorts from $59.00 to $62.00 and gave the company a "hold" rating in a report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Red Rock Resorts has a consensus rating of "Moderate Buy" and an average price target of $63.50.

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.