SG Americas Securities LLC Increases Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

SG Americas Securities LLC boosted its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 390.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,920 shares of the company's stock after buying an additional 13,468 shares during the period. SG Americas Securities LLC's holdings in Red Rock Resorts were worth $921,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Edgestream Partners L.P. purchased a new stake in shares of Red Rock Resorts during the 1st quarter valued at $1,238,000. BNP Paribas Financial Markets lifted its holdings in shares of Red Rock Resorts by 35.5% during the 1st quarter. BNP Paribas Financial Markets now owns 32,080 shares of the company's stock valued at $1,919,000 after purchasing an additional 8,402 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in Red Rock Resorts by 24.9% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 944,340 shares of the company's stock worth $56,491,000 after acquiring an additional 188,095 shares during the last quarter. Nicholas Investment Partners LP purchased a new position in Red Rock Resorts in the 2nd quarter worth $5,336,000. Finally, Lisanti Capital Growth LLC purchased a new position in Red Rock Resorts in the 1st quarter worth $2,260,000. Hedge funds and other institutional investors own 47.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Morgan Stanley increased their price target on Red Rock Resorts from $54.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Wednesday, September 4th. Truist Financial cut their price target on Red Rock Resorts from $64.00 to $63.00 and set a "hold" rating on the stock in a research report on Wednesday, July 24th. Macquarie increased their price target on Red Rock Resorts from $62.00 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 24th. Barclays increased their price target on Red Rock Resorts from $63.00 to $65.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. increased their price target on Red Rock Resorts from $62.00 to $69.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $63.50.

Insider Activity at Red Rock Resorts

In related news, CEO Frank J. Fertitta III purchased 67,000 shares of Red Rock Resorts stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average cost of $54.49 per share, with a total value of $3,650,830.00. Following the completion of the transaction, the chief executive officer now directly owns 45,914,301 shares in the company, valued at approximately $2,501,870,261.49. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Red Rock Resorts news, CEO Frank J. Fertitta III bought 67,000 shares of Red Rock Resorts stock in a transaction dated Thursday, August 1st. The stock was acquired at an average cost of $54.49 per share, with a total value of $3,650,830.00. Following the completion of the acquisition, the chief executive officer now owns 45,914,301 shares of the company's stock, valued at approximately $2,501,870,261.49. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Lorenzo J. Fertitta bought 33,000 shares of Red Rock Resorts stock in a transaction dated Thursday, August 1st. The stock was acquired at an average cost of $54.49 per share, with a total value of $1,798,170.00. Following the completion of the acquisition, the vice president now directly owns 47,480,301 shares of the company's stock, valued at approximately $2,587,201,601.49. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 200,000 shares of company stock valued at $10,426,000 over the last ninety days. Insiders own 53.28% of the company's stock.

Red Rock Resorts Stock Up 1.2 %

Shares of NASDAQ:RRR traded up $0.64 during trading on Friday, hitting $52.54. The company's stock had a trading volume of 436,151 shares, compared to its average volume of 462,951. The business has a 50 day moving average price of $54.69 and a two-hundred day moving average price of $54.99. The company has a market capitalization of $5.55 billion, a PE ratio of 18.63, a P/E/G ratio of 5.48 and a beta of 2.04. The company has a debt-to-equity ratio of 15.15, a quick ratio of 0.89 and a current ratio of 0.94. Red Rock Resorts, Inc. has a fifty-two week low of $37.82 and a fifty-two week high of $63.28.

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

Red Rock Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.90%. Red Rock Resorts's payout ratio is currently 35.46%.

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.