Quest Partners LLC Buys Shares of 18,890 Red Rock Resorts, Inc. (NASDAQ:RRR)

Quest Partners LLC bought a new stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 18,890 shares of the company’s stock, valued at approximately $1,028,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. MQS Management LLC bought a new stake in shares of Red Rock Resorts during the 3rd quarter valued at $392,000. Crystal Rock Capital Management increased its position in shares of Red Rock Resorts by 19.1% in the 3rd quarter. Crystal Rock Capital Management now owns 54,200 shares of the company’s stock valued at $2,951,000 after buying an additional 8,700 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Red Rock Resorts in the 3rd quarter valued at $842,000. Olympiad Research LP bought a new stake in shares of Red Rock Resorts in the 3rd quarter valued at $401,000. Finally, US Bancorp DE increased its position in shares of Red Rock Resorts by 2,223.9% in the 3rd quarter. US Bancorp DE now owns 1,557 shares of the company’s stock valued at $85,000 after buying an additional 1,490 shares in the last quarter. Institutional investors own 47.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Mizuho restated an “outperform” rating and issued a $57.00 price objective (down previously from $67.00) on shares of Red Rock Resorts in a research report on Tuesday, November 12th. Truist Financial reduced their target price on shares of Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. Macquarie reduced their target price on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Morgan Stanley upped their target price on shares of 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. Finally, Susquehanna upped 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. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.50.

Red Rock Resorts Stock Up 0.3 %

Red Rock Resorts stock opened at $49.69 on Thursday. The stock has a market cap of $5.25 billion, a P/E ratio of 18.40, a P/E/G ratio of 6.33 and a beta of 2.04. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. Red Rock Resorts, Inc. has a twelve month low of $43.38 and a twelve month high of $63.28. The company’s 50-day moving average price is $52.90 and its two-hundred day moving average price is $53.67.

Red Rock Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 annualized dividend and a yield of 2.01%. Red Rock Resorts’s dividend payout ratio is currently 37.04%.

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.