Rockingstone Advisors LLC Sells 210 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Rockingstone Advisors LLC reduced its position in Red Rock Resorts, Inc. (NASDAQ:RRR) by 4.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,755 shares of the company’s stock after selling 210 shares during the period. Rockingstone Advisors LLC’s holdings in Red Rock Resorts were worth $259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. SG Americas Securities LLC lifted its stake in shares of Red Rock Resorts by 390.2% in the 3rd quarter. SG Americas Securities LLC now owns 16,920 shares of the company’s stock worth $921,000 after purchasing an additional 13,468 shares during the period. Point72 DIFC Ltd bought a new position in Red Rock Resorts in the second quarter worth approximately $98,000. Truist Financial Corp boosted its stake in shares of Red Rock Resorts by 0.9% during the 2nd quarter. Truist Financial Corp now owns 27,545 shares of the company’s stock worth $1,513,000 after acquiring an additional 241 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Red Rock Resorts during the 2nd quarter valued at $4,907,000. Finally, Creative Planning increased its stake in shares of Red Rock Resorts by 5.9% in the 2nd quarter. Creative Planning now owns 15,902 shares of the company’s stock worth $873,000 after purchasing an additional 886 shares in the last quarter. Institutional investors own 47.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Wells Fargo & Company downgraded Red Rock Resorts from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $63.00 to $64.00 in a research report on Wednesday, July 24th. Stifel Nicolaus lifted their price objective on Red Rock Resorts from $59.00 to $62.00 and gave the company a “hold” 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 company an “equal weight” rating in a research note on Wednesday, September 4th. Susquehanna raised their target price on shares of Red Rock Resorts from $63.00 to $70.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. Finally, Truist Financial lowered their price target on shares of Red Rock Resorts from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $63.50.

Red Rock Resorts Trading Down 3.9 %

Shares of RRR opened at $52.62 on Wednesday. The firm has a market cap of $5.56 billion, a P/E ratio of 18.27, a price-to-earnings-growth ratio of 5.71 and a beta of 2.04. The company has a debt-to-equity ratio of 15.15, a current ratio of 0.94 and a quick ratio of 0.89. Red Rock Resorts, Inc. has a 1 year low of $37.82 and a 1 year high of $63.28. The company has a 50 day simple moving average of $54.82 and a two-hundred day simple moving average of $55.07.

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

Red Rock Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.00 annualized dividend and a dividend yield of 1.90%. Red Rock Resorts’s dividend payout ratio (DPR) is 34.72%.

Insider Transactions at Red Rock Resorts

In other news, COO Kord Nichols sold 49,464 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $58.00, for a total transaction of $2,868,912.00. Following the sale, the chief operating officer now directly owns 71,946 shares of the company’s stock, valued at $4,172,868. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Kord Nichols sold 49,464 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $58.00, for a total value of $2,868,912.00. Following the sale, the chief operating officer now directly owns 71,946 shares in the company, valued at $4,172,868. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Frank J. Fertitta III bought 67,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were acquired at an average price of $54.49 per share, for a total transaction of $3,650,830.00. Following the completion of the transaction, the chief executive officer now directly owns 45,914,301 shares in the company, valued at approximately $2,501,870,261.49. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 200,000 shares of company stock valued at $10,426,000. 53.28% of the stock is currently owned by insiders.

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.