Long Pond Capital LP Acquires 866,320 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Long Pond Capital LP grew its stake in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 142.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,474,153 shares of the company's stock after purchasing an additional 866,320 shares during the period. Red Rock Resorts comprises approximately 3.5% of Long Pond Capital LP's investment portfolio, making the stock its 12th largest position. Long Pond Capital LP owned 1.40% of Red Rock Resorts worth $68,165,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Sterling Capital Management LLC increased its holdings in Red Rock Resorts by 654.7% in the fourth quarter. Sterling Capital Management LLC now owns 883 shares of the company's stock valued at $41,000 after purchasing an additional 766 shares during the period. KBC Group NV boosted its stake in shares of Red Rock Resorts by 37.1% in the 4th 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 last quarter. Mayfair Advisory Group LLC lifted 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 buying an additional 591 shares during the period. Cibc World Markets Corp acquired a new position in shares of Red Rock Resorts in the 4th quarter valued at about $213,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Red Rock Resorts in the third quarter valued at approximately $233,000. Institutional investors own 47.84% of the company's stock.

Red Rock Resorts Trading Up 2.3 %

Shares of NASDAQ RRR traded up $0.91 during trading hours on Tuesday, hitting $40.95. The company's stock had a trading volume of 156,806 shares, compared to its average volume of 563,283. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 4.32 and a beta of 1.69. The business has a 50-day simple moving average of $45.06 and a 200-day simple moving average of $47.88. Red Rock Resorts, Inc. has a 12 month low of $35.09 and a 12 month high of $61.73.

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

Red Rock Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date was Monday, March 17th. Red Rock Resorts's dividend payout ratio (DPR) is 39.84%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. JMP Securities dropped their price objective on shares of Red Rock Resorts from $59.00 to $55.00 and set a "market outperform" rating on the stock in a report on Thursday, April 17th. Truist Financial decreased their price objective on Red Rock Resorts from $56.00 to $49.00 and set a "hold" rating for the company in a report on Tuesday, January 14th. Stifel Nicolaus upped their price objective on shares of Red Rock Resorts from $50.00 to $54.00 and gave the stock a "hold" rating in a report on Wednesday, February 12th. Mizuho lifted their price target on Red Rock Resorts from $44.00 to $52.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. Finally, Susquehanna reduced their price objective on shares of Red Rock Resorts from $61.00 to $52.00 and set a "positive" rating for the company in a research report on Wednesday, April 16th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $55.33.

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.