Sequoia Financial Advisors LLC Purchases 325,727 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Sequoia Financial Advisors LLC lifted its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 4,050.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 333,769 shares of the company's stock after acquiring an additional 325,727 shares during the quarter. Sequoia Financial Advisors LLC owned approximately 0.32% of Red Rock Resorts worth $18,170,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vaughan Nelson Investment Management L.P. raised its position 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 purchasing an additional 188,095 shares during the last quarter. BNP Paribas Financial Markets raised its position in Red Rock Resorts by 35.5% in the 1st quarter. BNP Paribas Financial Markets now owns 32,080 shares of the company's stock worth $1,919,000 after purchasing an additional 8,402 shares during the last quarter. FORA Capital LLC raised its position in Red Rock Resorts by 16.1% in the 1st quarter. FORA Capital LLC now owns 10,784 shares of the company's stock worth $645,000 after purchasing an additional 1,492 shares during the last quarter. SG Americas Securities LLC bought a new position in Red Rock Resorts in the 1st quarter worth approximately $236,000. Finally, Lisanti Capital Growth LLC bought a new position in Red Rock Resorts in the 1st quarter worth approximately $2,260,000. 47.84% of the stock is owned by institutional investors and hedge funds.

Red Rock Resorts Trading Down 1.1 %

Shares of RRR stock traded down $0.56 on Tuesday, hitting $51.52. The stock had a trading volume of 366,345 shares, compared to its average volume of 461,053. Red Rock Resorts, Inc. has a twelve month low of $37.82 and a twelve month high of $63.28. The firm has a market cap of $5.44 billion, a P/E ratio of 18.27, a PEG ratio of 5.43 and a beta of 2.04. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 15.15. The company has a fifty day moving average price of $54.58 and a two-hundred day moving average price of $54.57.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on RRR shares. Macquarie boosted their price objective on shares of Red Rock Resorts from $62.00 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 24th. JMP Securities reiterated a "market outperform" rating and set a $65.00 target price on shares of Red Rock Resorts in a research report on Monday, October 14th. Morgan Stanley upped their target price on shares of Red Rock Resorts from $54.00 to $56.00 and gave the company an "equal weight" rating in a research report on Wednesday, September 4th. Susquehanna upped their target price on shares of Red Rock Resorts from $63.00 to $70.00 and gave the company a "positive" rating in a research report on Wednesday, July 24th. Finally, Barclays upped their target price on shares of Red Rock Resorts from $63.00 to $65.00 and gave the company an "overweight" rating in a research report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $63.00.

Insider Buying and Selling

In other Red Rock Resorts news, VP Lorenzo J. Fertitta acquired 33,000 shares of Red Rock Resorts stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $49.77 per share, for a total transaction of $1,642,410.00. Following the purchase, the vice president now directly owns 47,546,301 shares in the company, valued at approximately $2,366,379,400.77. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In other Red Rock Resorts news, VP Lorenzo J. Fertitta acquired 33,000 shares of Red Rock Resorts stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $49.77 per share, for a total transaction of $1,642,410.00. Following the purchase, the vice president now directly owns 47,546,301 shares in the company, valued at approximately $2,366,379,400.77. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Kord Nichols sold 49,464 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $58.00, for a total transaction of $2,868,912.00. Following the transaction, the chief operating officer now owns 71,946 shares of the company's stock, valued at approximately $4,172,868. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 200,000 shares of company stock valued at $10,426,000. Company insiders own 53.28% of the company's stock.

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.