OFI Invest Asset Management Invests $2.05 Million in Red Rock Resorts, Inc. (NASDAQ:RRR)

OFI Invest Asset Management purchased a new stake in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 46,000 shares of the company's stock, valued at approximately $2,054,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RRR. Quarry LP raised its stake in 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 buying an additional 930 shares during the last quarter. US Bancorp DE grew its holdings in Red Rock Resorts by 2,223.9% during the third 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. KBC Group NV grew its holdings 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 purchasing an additional 540 shares during the period. Mayfair Advisory Group LLC grew its holdings in Red Rock Resorts by 15.1% in the fourth 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 period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Red Rock Resorts in the third quarter valued at approximately $233,000. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RRR. Susquehanna lifted their price target on Red Rock Resorts from $60.00 to $61.00 and gave the stock a "positive" rating in a research note on Wednesday, February 12th. Mizuho lifted their price target on Red Rock Resorts from $44.00 to $52.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $51.00 price target (down from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Stifel Nicolaus lifted their price target on Red Rock Resorts from $50.00 to $54.00 and gave the stock a "hold" rating in a research note on Wednesday, February 12th. Finally, JMP Securities reduced their price objective on Red Rock Resorts from $61.00 to $57.00 and set a "market outperform" rating on the stock in a research report on Thursday, January 16th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $57.33.

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Red Rock Resorts Trading Down 3.3 %

NASDAQ:RRR traded down $1.45 on Thursday, reaching $42.69. The company's stock had a trading volume of 550,975 shares, compared to its average volume of 642,355. Red Rock Resorts, Inc. has a 12-month low of $42.33 and a 12-month high of $63.28. 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 50 day moving average price of $48.10 and a 200 day moving average price of $50.60. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 4.32 and a beta of 2.01.

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

Red Rock Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 2.34%. Red Rock Resorts's payout ratio is 39.84%.

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.