Red Rock Resorts, Inc. (NASDAQ:RRR) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC cut its holdings in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 8.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,236 shares of the company’s stock after selling 416 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Red Rock Resorts were worth $233,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Bamco Inc. NY raised its holdings in shares of Red Rock Resorts by 0.5% during the first quarter. Bamco Inc. NY now owns 10,409,100 shares of the company’s stock worth $622,672,000 after purchasing an additional 50,246 shares during the period. Vanguard Group Inc. increased its holdings in shares of Red Rock Resorts by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 5,136,942 shares of the company’s stock worth $307,292,000 after acquiring an additional 209,593 shares during the period. Eminence Capital LP increased its holdings in shares of Red Rock Resorts by 21.1% in the 4th quarter. Eminence Capital LP now owns 2,373,556 shares of the company’s stock worth $126,582,000 after acquiring an additional 413,871 shares during the period. Vaughan Nelson Investment Management L.P. lifted its position in Red Rock Resorts by 26.7% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company’s stock valued at $65,706,000 after purchasing an additional 251,855 shares during the last quarter. Finally, Capital World Investors acquired a new position in shares of Red Rock Resorts during the fourth quarter worth approximately $24,897,000. 47.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RRR shares. Barclays increased their target price on shares of Red Rock Resorts from $63.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Morgan Stanley boosted their price objective on Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. Wells Fargo & Company cut Red Rock Resorts from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $63.00 to $64.00 in a research note on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on shares of Red Rock Resorts from $62.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Susquehanna boosted their target price on shares of Red Rock Resorts from $63.00 to $70.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $63.50.

Insider Transactions at Red Rock Resorts

In other Red Rock Resorts news, COO Kord Nichols sold 49,464 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $58.00, for a total transaction of $2,868,912.00. Following the completion of the sale, the chief operating officer now owns 71,946 shares in the company, valued at approximately $4,172,868. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Lorenzo J. Fertitta bought 33,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were purchased at an average cost of $54.49 per share, with a total value of $1,798,170.00. Following the acquisition, the vice president now directly owns 47,480,301 shares in the company, valued at $2,587,201,601.49. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Kord Nichols sold 49,464 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $58.00, for a total transaction of $2,868,912.00. Following the transaction, the chief operating officer now owns 71,946 shares of the company’s stock, valued at $4,172,868. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 200,000 shares of company stock worth $10,426,000. Insiders own 53.28% of the company’s stock.

Red Rock Resorts Stock Down 0.4 %

Shares of RRR stock opened at $53.80 on Thursday. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 15.15. Red Rock Resorts, Inc. has a 12 month low of $37.82 and a 12 month high of $63.28. The stock has a 50 day moving average of $55.49 and a 200-day moving average of $55.18. The firm has a market cap of $5.68 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 5.32 and a beta of 2.04.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.16. Red Rock Resorts had a return on equity of 83.84% and a net margin of 9.21%. The company had revenue of $486.40 million for the quarter, compared to the consensus estimate of $475.80 million. During the same period in the previous year, the business earned $0.65 earnings per share. The company’s quarterly revenue was up 16.9% on a year-over-year basis. On average, equities analysts predict that Red Rock Resorts, Inc. will post 1.66 EPS for the current year.

Red Rock Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.25 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.00 annualized dividend and a yield of 1.86%. Red Rock Resorts’s payout ratio is 34.72%.

Red Rock Resorts 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.