Red Rock Resorts, Inc. (NASDAQ:RRR) Shares Acquired by nVerses Capital LLC

nVerses Capital LLC raised its holdings in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 28.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,600 shares of the company’s stock after purchasing an additional 800 shares during the quarter. nVerses Capital LLC’s holdings in Red Rock Resorts were worth $196,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in RRR. Truist Financial Corp lifted its stake in Red Rock Resorts by 0.9% during the second quarter. Truist Financial Corp now owns 27,545 shares of the company’s stock valued at $1,513,000 after buying an additional 241 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Red Rock Resorts by 3.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 8,042 shares of the company’s stock worth $442,000 after purchasing an additional 292 shares during the period. Arizona State Retirement System boosted its stake in Red Rock Resorts by 3.3% in the 2nd quarter. Arizona State Retirement System now owns 14,086 shares of the company’s stock worth $774,000 after purchasing an additional 444 shares during the period. WCG Wealth Advisors LLC grew its position in Red Rock Resorts by 2.5% during the 2nd quarter. WCG Wealth Advisors LLC now owns 18,325 shares of the company’s stock worth $1,007,000 after purchasing an additional 450 shares in the last quarter. Finally, Covestor Ltd raised its stake in Red Rock Resorts by 16,666.7% during the 1st quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $30,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Trading Down 0.6 %

Shares of Red Rock Resorts stock opened at $52.26 on Friday. Red Rock Resorts, Inc. has a 52-week low of $37.82 and a 52-week high of $63.28. The firm has a market capitalization of $5.52 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 5.48 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. The company’s fifty day moving average price is $54.62 and its two-hundred day moving average price is $54.68.

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 analysts’ consensus estimates of $0.43 by $0.16. Red Rock Resorts had a net margin of 9.21% and a return on equity of 83.84%. The business had revenue of $486.40 million for the quarter, compared to analysts’ expectations of $475.80 million. During the same quarter in the previous year, the firm posted $0.65 earnings per share. The firm’s revenue for the quarter was up 16.9% on a year-over-year basis. On average, analysts expect that Red Rock Resorts, Inc. will post 1.66 EPS for the current year.

Red Rock Resorts Dividend Announcement

The business 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 was Monday, September 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.91%. Red Rock Resorts’s payout ratio is presently 35.46%.

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 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 completion of the transaction, the chief operating officer now directly owns 71,946 shares of the company’s stock, valued at approximately $4,172,868. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other 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 value of $2,868,912.00. Following the completion of the transaction, the chief operating officer now owns 71,946 shares in the company, valued at approximately $4,172,868. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Lorenzo J. Fertitta bought 33,000 shares of Red Rock Resorts stock in a transaction dated Thursday, August 1st. The stock was acquired at an average cost of $54.49 per share, for a total transaction of $1,798,170.00. Following the completion of the acquisition, the vice president now directly owns 47,480,301 shares in the company, valued at $2,587,201,601.49. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 200,000 shares of company stock worth $10,426,000 in the last 90 days. 53.28% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RRR. Stifel Nicolaus raised their target price on Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their target price on Red Rock Resorts from $62.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Susquehanna increased their price target on shares of Red Rock Resorts from $63.00 to $70.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. JMP Securities reaffirmed a “market outperform” rating and set a $65.00 price objective on shares of Red Rock Resorts in a research report on Monday, October 14th. Finally, Macquarie upped their price objective on shares of Red Rock Resorts from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Red Rock Resorts has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

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.