Versor Investments LP Makes New $588,000 Investment in Red Rock Resorts, Inc. (NASDAQ:RRR)

Versor Investments LP acquired a new stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,700 shares of the company’s stock, valued at approximately $588,000.

Other large investors have also modified their holdings of the company. Covestor Ltd increased its holdings in Red Rock Resorts by 16,666.7% in the 1st 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 acquired a new stake in shares of Red Rock Resorts during the 1st quarter valued at about $78,000. nVerses Capital LLC bought a new stake in Red Rock Resorts in the second quarter valued at about $154,000. Virtu Financial LLC acquired a new position in Red Rock Resorts in the fourth quarter worth about $212,000. Finally, Core Wealth Partners LLC acquired a new position in Red Rock Resorts in the fourth quarter worth about $213,000. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Red Rock Resorts Price Performance

RRR opened at $56.78 on Wednesday. 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 50 day simple moving average is $56.12 and its 200-day simple moving average is $55.50. Red Rock Resorts, Inc. has a one year low of $37.82 and a one year high of $63.28. The stock has a market capitalization of $6.00 billion, a P/E ratio of 19.72, a price-to-earnings-growth ratio of 5.70 and a beta of 2.04.

Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Tuesday, July 23rd. The company reported $0.59 EPS 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 return on equity of 83.84% and a net margin of 9.21%. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period last year, the firm earned $0.65 EPS. Sell-side analysts anticipate that Red Rock Resorts, Inc. will post 1.66 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.76%. Red Rock Resorts’s payout ratio is presently 34.72%.

Analysts Set New Price Targets

RRR has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price objective 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. Truist Financial lowered their price target on Red Rock Resorts from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. Wells Fargo & Company cut Red Rock Resorts from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $63.00 to $64.00 in a report on Wednesday, July 24th. Stifel Nicolaus boosted their target price on shares of Red Rock Resorts from $59.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Finally, Barclays increased their target price on shares of Red Rock Resorts from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.33.

Insider Buying and Selling at Red Rock Resorts

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 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 SEC, which can be accessed through this link. In other news, COO Kord Nichols sold 49,464 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was 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 directly owns 71,946 shares in the company, valued at approximately $4,172,868. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Lorenzo J. Fertitta acquired 33,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $49.77 per share, with a total value of $1,642,410.00. Following the completion of the purchase, the vice president now owns 47,546,301 shares of the company’s stock, valued at $2,366,379,400.77. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 200,000 shares of company stock worth $10,426,000. Company insiders own 53.28% of the company’s stock.

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.