Ritholtz Wealth Management Invests $215,000 in Red Rock Resorts, Inc. (NASDAQ:RRR)

Ritholtz Wealth Management acquired a new stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,946 shares of the company’s stock, valued at approximately $215,000.

Several other large investors also recently added to or reduced their stakes in the stock. Covestor Ltd increased its stake in shares of Red Rock Resorts by 16,666.7% during the first quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $30,000 after buying an additional 500 shares during the period. Headlands Technologies LLC bought a new position in Red Rock Resorts during the 1st quarter worth about $78,000. Point72 DIFC Ltd purchased a new position in Red Rock Resorts during the 2nd quarter valued at about $98,000. nVerses Capital LLC bought a new stake in shares of Red Rock Resorts in the 2nd quarter valued at about $154,000. Finally, SG Americas Securities LLC bought a new stake in shares of Red Rock Resorts in the 1st quarter valued at about $236,000. 47.84% of the stock is owned by hedge funds and other institutional investors.

Red Rock Resorts Trading Up 0.6 %

Shares of Red Rock Resorts stock opened at $52.59 on Friday. The firm’s 50 day simple moving average is $54.67 and its two-hundred day simple moving average is $54.79. The firm has a market capitalization of $5.55 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 5.48 and a beta of 2.04. Red Rock Resorts, Inc. has a 12-month low of $37.82 and a 12-month high of $63.28. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 15.15.

Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Tuesday, July 23rd. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $486.40 million for the quarter, compared to the consensus estimate of $475.80 million. During the same period in the prior year, the firm earned $0.65 EPS. The firm’s revenue was up 16.9% on a year-over-year basis. Analysts predict that Red Rock Resorts, Inc. will post 1.66 EPS for the current year.

Red Rock Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.25 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.90%. Red Rock Resorts’s dividend payout ratio is currently 35.46%.

Analysts Set New Price Targets

Several brokerages recently issued reports on RRR. Morgan Stanley lifted their price objective on shares of Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Wednesday, September 4th. Stifel Nicolaus lifted their price target on Red Rock Resorts from $59.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Truist Financial decreased their price objective on Red Rock Resorts from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. Macquarie lifted their target price on Red Rock Resorts from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company decreased their price target on shares of Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $63.00.

Insider Buying and Selling

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

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.