AlphaQuest LLC reduced its stake in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 72.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,243 shares of the company's stock after selling 13,647 shares during the period. AlphaQuest LLC's holdings in Red Rock Resorts were worth $242,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RRR. Bamco Inc. NY increased its position in Red Rock Resorts by 1.0% during the third quarter. Bamco Inc. NY now owns 10,623,284 shares of the company's stock worth $578,332,000 after buying an additional 106,509 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Red Rock Resorts by 20.6% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,344,058 shares of the company's stock valued at $62,149,000 after acquiring an additional 229,843 shares during the period. Geode Capital Management LLC raised its position in Red Rock Resorts by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,171,267 shares of the company's stock valued at $63,776,000 after purchasing an additional 14,029 shares during the last quarter. Westfield Capital Management Co. LP grew its position in Red Rock Resorts by 3.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,134,509 shares of the company's stock worth $61,763,000 after purchasing an additional 38,443 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Red Rock Resorts by 7.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 621,151 shares of the company's stock worth $28,722,000 after purchasing an additional 44,043 shares during the last quarter. Institutional investors and hedge funds own 47.84% of the company's stock.
Red Rock Resorts Price Performance
RRR stock traded up $0.73 during trading on Wednesday, reaching $45.32. 255,814 shares of the company were exchanged, compared to its average volume of 526,620. 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's 50 day moving average price is $48.05 and its 200 day moving average price is $50.20. Red Rock Resorts, Inc. has a 52-week low of $42.33 and a 52-week high of $63.29. The company has a market cap of $4.81 billion, a P/E ratio of 18.06, a PEG 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 (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. As a group, analysts predict that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current fiscal year.
Red Rock Resorts Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.25 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.21%. Red Rock Resorts's payout ratio is 39.84%.
Analyst Upgrades and Downgrades
RRR has been the subject of several recent research reports. Susquehanna increased their target price on shares of Red Rock Resorts from $60.00 to $61.00 and gave the stock a "positive" rating in a research note on Wednesday, February 12th. Jefferies Financial Group reiterated a "hold" rating and issued a $51.00 target price (down from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Truist Financial cut their price target on Red Rock Resorts from $56.00 to $49.00 and set a "hold" rating for the company in a research note on Tuesday, January 14th. Stifel Nicolaus increased their price target on Red Rock Resorts from $50.00 to $54.00 and gave the stock a "hold" rating in a report on Wednesday, February 12th. Finally, JMP Securities cut their price objective on shares of Red Rock Resorts from $61.00 to $57.00 and set a "market outperform" rating for the company in a research report on Thursday, January 16th. Seven equities 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, Red Rock Resorts presently has an average rating of "Hold" and an average price target of $57.33.
Read Our Latest Stock Report on Red Rock Resorts
Red Rock Resorts Company Profile
(
Free Report)
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.
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