Ring Mountain Capital LLC Invests $487,000 in Red Rock Resorts, Inc. (NASDAQ:RRR)

Ring Mountain Capital LLC bought a new position in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,538 shares of the company's stock, valued at approximately $487,000.

Several other hedge funds have also modified their holdings of RRR. Charles Schwab Investment Management Inc. increased its position in shares of Red Rock Resorts by 7.6% during the fourth 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 in the last quarter. Versor Investments LP grew its stake in Red Rock Resorts by 52.5% during the 4th quarter. Versor Investments LP now owns 6,100 shares of the company's stock worth $282,000 after buying an additional 2,100 shares during the last quarter. Crystal Rock Capital Management increased its position in Red Rock Resorts by 22.0% during the 4th quarter. Crystal Rock Capital Management now owns 66,100 shares of the company's stock valued at $3,056,000 after buying an additional 11,900 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Red Rock Resorts by 8.7% in the fourth quarter. Bank of New York Mellon Corp now owns 397,771 shares of the company's stock valued at $18,393,000 after buying an additional 31,858 shares during the last quarter. Finally, Keene & Associates Inc. purchased a new stake in Red Rock Resorts in the fourth quarter valued at about $548,000. 47.84% of the stock is owned by hedge funds and other institutional investors.

Red Rock Resorts Stock Performance

Red Rock Resorts stock traded down $0.06 during mid-day trading on Friday, hitting $47.01. The company had a trading volume of 984,480 shares, compared to its average volume of 626,986. Red Rock Resorts, Inc. has a 12-month low of $42.46 and a 12-month high of $63.28. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of 18.73, a P/E/G ratio of 4.32 and a beta of 2.01. The company's fifty day moving average is $48.22 and its 200-day moving average is $50.94.

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Red Rock Resorts (NASDAQ:RRR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts predict that Red Rock Resorts, Inc. will post 1.76 EPS for the current year.

Red Rock Resorts Announces Dividend

The business also recently declared 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 2.13%. Red Rock Resorts's dividend payout ratio is currently 39.84%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group restated a "hold" rating and set a $51.00 price objective (down previously from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. Macquarie cut their price target on shares of Red Rock Resorts from $65.00 to $64.00 and set an "outperform" rating on the stock in a research note on Friday, November 8th. Truist Financial lowered their price objective on shares of 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. Mizuho upped their target price on Red Rock Resorts from $44.00 to $52.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. Finally, Stifel Nicolaus raised their target price 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. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $57.33.

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.