UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 12.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,350 shares of the company's stock after selling 14,808 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.10% of Red Rock Resorts worth $5,899,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in shares of Red Rock Resorts in the third quarter worth about $327,000. Dynamic Technology Lab Private Ltd bought a new position in Red Rock Resorts in the 3rd quarter valued at $1,776,000. Westfield Capital Management Co. LP increased its holdings in shares of Red Rock Resorts by 3.5% in the third 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 period. Cerity Partners LLC grew its position in Red Rock Resorts by 637.0% during the third quarter. Cerity Partners LLC now owns 74,001 shares of the company's stock worth $4,029,000 after buying an additional 63,960 shares in the last quarter. Finally, Citigroup Inc. raised its holdings in shares of Red Rock Resorts by 77.2% in the 3rd quarter. Citigroup Inc. now owns 66,445 shares of the company's stock valued at $3,617,000 after acquiring an additional 28,948 shares in the last quarter. Institutional investors own 47.84% of the company's stock.

Red Rock Resorts Stock Performance

NASDAQ:RRR traded up $0.41 on Wednesday, hitting $49.77. The stock had a trading volume of 477,066 shares, compared to its average volume of 494,782. Red Rock Resorts, Inc. has a 52-week low of $46.19 and a 52-week high of $63.28. The stock has a market cap of $5.26 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 6.69 and a beta of 2.01. 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 business's 50-day simple moving average is $51.82 and its two-hundred day simple moving average is $53.60.

Red Rock Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Monday, December 16th. Red Rock Resorts's dividend payout ratio (DPR) is 37.04%.

Analyst Ratings Changes

Several equities research analysts have issued reports on RRR shares. JMP Securities reaffirmed a "market outperform" rating and set a $65.00 price target on shares of Red Rock Resorts in a research note on Monday, October 14th. Barclays dropped their target price on Red Rock Resorts from $65.00 to $62.00 and set an "overweight" rating for the company in a research report on Friday, November 8th. Macquarie cut their target price on Red Rock Resorts from $65.00 to $64.00 and set an "outperform" rating for the company in a research note on Friday, November 8th. Truist Financial decreased their price target on shares of Red Rock Resorts from $63.00 to $58.00 and set a "hold" rating on the stock in a research note on Wednesday, October 23rd. Finally, Mizuho cut shares of Red Rock Resorts from an "outperform" rating to a "neutral" rating and cut their price objective for the company from $57.00 to $44.00 in a research note on Monday, November 25th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $60.42.

Red Rock Resorts Company 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.