Wellington Management Group LLP Sells 98,788 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Wellington Management Group LLP decreased its holdings in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 53.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 86,230 shares of the company's stock after selling 98,788 shares during the period. Wellington Management Group LLP owned approximately 0.08% of Red Rock Resorts worth $3,987,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership grew its holdings in Red Rock Resorts by 167.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 422,447 shares of the company's stock valued at $19,534,000 after purchasing an additional 264,609 shares during the period. Norges Bank bought a new position in shares of Red Rock Resorts during the fourth quarter worth $5,352,000. JPMorgan Chase & Co. boosted its position in shares of Red Rock Resorts by 5.7% during the fourth quarter. JPMorgan Chase & Co. now owns 94,255 shares of the company's stock worth $4,358,000 after purchasing an additional 5,058 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Red Rock Resorts by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 5,181,146 shares of the company's stock valued at $239,576,000 after buying an additional 50,193 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in shares of Red Rock Resorts in the 4th quarter valued at $407,000. Institutional investors and hedge funds own 47.84% of the company's stock.

Red Rock Resorts Stock Up 0.5 %

NASDAQ:RRR traded up $0.20 on Thursday, hitting $40.96. 108,466 shares of the company's stock were exchanged, compared to its average volume of 560,215. The firm has a 50-day moving average price of $45.69 and a 200-day moving average price of $48.27. Red Rock Resorts, Inc. has a 52 week low of $35.09 and a 52 week high of $61.73. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. The company has a market cap of $4.34 billion, a P/E ratio of 16.30, a price-to-earnings-growth ratio of 4.32 and a beta of 1.69.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last released its earnings results 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 expect that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was Monday, March 17th. Red Rock Resorts's payout ratio is presently 39.84%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RRR. Truist Financial decreased their target price 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. Mizuho increased their target price on Red Rock Resorts from $44.00 to $52.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Morgan Stanley cut their price target on shares of Red Rock Resorts from $45.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Stifel Nicolaus upped their price target on shares of Red Rock Resorts from $50.00 to $54.00 and gave the company a "hold" rating in a report on Wednesday, February 12th. Finally, 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. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $55.33.

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.