Vanguard Group Inc. Reduces Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

Vanguard Group Inc. lessened its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,927,349 shares of the company’s stock after selling 103,488 shares during the period. Vanguard Group Inc. owned 4.68% of Red Rock Resorts worth $262,776,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RRR. Virtu Financial LLC purchased a new stake in Red Rock Resorts during the 4th quarter worth about $212,000. Eminence Capital LP raised its position in shares of Red Rock Resorts by 21.1% in the fourth quarter. Eminence Capital LP now owns 2,373,556 shares of the company’s stock valued at $126,582,000 after buying an additional 413,871 shares during the last quarter. Capital World Investors acquired a new stake in Red Rock Resorts during the fourth quarter worth approximately $24,897,000. Capstone Investment Advisors LLC boosted its position in Red Rock Resorts by 44.9% during the fourth quarter. Capstone Investment Advisors LLC now owns 17,038 shares of the company’s stock worth $909,000 after acquiring an additional 5,276 shares during the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in Red Rock Resorts by 2.4% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,386,676 shares of the company’s stock worth $73,951,000 after acquiring an additional 32,427 shares during the period. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Red Rock Resorts news, Vice President Lorenzo J. Fertitta bought 800,000 shares of the stock in a transaction dated Monday, May 13th. The stock was bought at an average cost of $50.39 per share, for a total transaction of $40,312,000.00. Following the completion of the purchase, the insider now directly owns 47,447,301 shares of the company’s stock, valued at $2,390,869,497.39. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 53.28% of the stock is currently owned by insiders.

Red Rock Resorts Trading Up 0.4 %

NASDAQ:RRR opened at $54.93 on Monday. The business’s 50-day moving average is $52.30 and its two-hundred day moving average is $54.60. The firm has a market capitalization of $5.80 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 2.62 and a beta of 2.00. Red Rock Resorts, Inc. has a 12 month low of $37.82 and a 12 month high of $63.28. The company has a debt-to-equity ratio of 18.49, a current ratio of 0.90 and a quick ratio of 0.85.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Tuesday, May 7th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.50 by $0.18. Red Rock Resorts had a return on equity of 98.44% and a net margin of 9.79%. The business had revenue of $488.90 million for the quarter, compared to the consensus estimate of $490.49 million. During the same period last year, the business posted $0.75 EPS. The company’s revenue was up 12.7% on a year-over-year basis. Research analysts predict that Red Rock Resorts, Inc. will post 1.82 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Friday, June 14th. Red Rock Resorts’s payout ratio is 34.72%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Barclays decreased their price objective on Red Rock Resorts from $64.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. Wells Fargo & Company lowered their price target on Red Rock Resorts from $66.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday, May 8th. Truist Financial increased their price objective on shares of Red Rock Resorts from $58.00 to $60.00 and gave the stock a “hold” rating in a report on Tuesday, April 23rd. JMP Securities lowered their target price on shares of Red Rock Resorts from $66.00 to $65.00 and set a “market outperform” rating for the company in a report on Wednesday, May 8th. Finally, Morgan Stanley increased their price target on shares of Red Rock Resorts from $51.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Red Rock Resorts has a consensus rating of “Moderate Buy” and a consensus target price of $61.58.

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.