Quest Partners LLC Takes Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

Quest Partners LLC purchased a new stake in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 18,890 shares of the company's stock, valued at approximately $1,028,000.

Several other hedge funds have also recently bought and sold shares of the stock. Long Pond Capital LP acquired a new stake in shares of Red Rock Resorts in the second quarter valued at $21,987,000. Eminence Capital LP lifted its position in shares of Red Rock Resorts by 23.7% during the second quarter. Eminence Capital LP now owns 1,952,754 shares of the company's stock worth $107,265,000 after purchasing an additional 374,128 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Red Rock Resorts by 4,050.3% in the third quarter. Sequoia Financial Advisors LLC now owns 333,769 shares of the company's stock valued at $18,170,000 after purchasing an additional 325,727 shares in the last quarter. Hantz Financial Services Inc. acquired a new position in Red Rock Resorts during the 2nd quarter worth $14,384,000. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in Red Rock Resorts by 26.7% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company's stock valued at $65,706,000 after acquiring an additional 251,855 shares during the last quarter. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on RRR shares. JMP Securities reissued a "market outperform" rating and issued a $65.00 price target on shares of Red Rock Resorts in a report on Monday, October 14th. Susquehanna increased their target price on Red Rock Resorts from $63.00 to $70.00 and gave the stock a "positive" rating in a report on Wednesday, July 24th. Morgan Stanley upped 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. JPMorgan Chase & Co. increased their target price on shares of Red Rock Resorts from $62.00 to $69.00 and gave the stock an "overweight" rating in a report on Wednesday, July 24th. Finally, Wells Fargo & Company lowered their target price on Red Rock Resorts from $64.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $61.50.

Red Rock Resorts Stock Up 2.0 %

RRR traded up $0.98 during midday trading on Thursday, reaching $50.67. 432,174 shares of the company were exchanged, compared to its average volume of 490,286. The company has a market cap of $5.35 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 6.16 and a beta of 2.04. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02. Red Rock Resorts, Inc. has a one year low of $43.38 and a one year high of $63.28. The company's fifty day moving average price is $52.90 and its 200 day moving average price is $53.67.

Red Rock Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 annualized dividend and a yield of 1.97%. 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.