Creative Planning Purchases 886 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Creative Planning raised its holdings in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 5.9% in the second quarter, Holdings Channel reports. The institutional investor owned 15,902 shares of the company’s stock after buying an additional 886 shares during the quarter. Creative Planning’s holdings in Red Rock Resorts were worth $873,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Sequoia Financial Advisors LLC increased its holdings in shares of Red Rock Resorts by 3.8% during 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 grew its position in Red Rock Resorts by 3.3% during the second quarter. Arizona State Retirement System now owns 14,086 shares of the company’s stock worth $774,000 after buying an additional 444 shares in the last quarter. WCG Wealth Advisors LLC increased its stake in Red Rock Resorts by 2.5% during the second quarter. WCG Wealth Advisors LLC now owns 18,325 shares of the company’s stock valued at $1,007,000 after acquiring an additional 450 shares during the period. Covestor Ltd increased its stake in 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 acquiring an additional 500 shares during the period. Finally, ProShare Advisors LLC raised its holdings in Red Rock Resorts by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 8,559 shares of the company’s stock valued at $512,000 after acquiring an additional 674 shares in the last quarter. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Red Rock Resorts Stock Up 1.2 %

NASDAQ RRR opened at $52.54 on Friday. The stock’s 50 day simple moving average is $54.69 and its 200 day simple moving average is $54.99. Red Rock Resorts, Inc. has a one year low of $37.82 and a one year high of $63.28. The firm has a market cap of $5.55 billion, a PE ratio of 18.63, 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.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Tuesday, July 23rd. The company reported $0.59 EPS for the quarter, topping 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 company had revenue of $486.40 million for the quarter, compared to analysts’ expectations of $475.80 million. During the same quarter in the prior year, the business earned $0.65 earnings per share. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. As a group, sell-side analysts forecast that Red Rock Resorts, Inc. will post 1.66 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

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

Insider Transactions at Red Rock Resorts

In related news, VP Lorenzo J. Fertitta purchased 33,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $49.77 per share, with a total value of $1,642,410.00. Following the completion of the acquisition, the vice president now directly owns 47,546,301 shares in the company, valued at approximately $2,366,379,400.77. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Red Rock Resorts news, COO Kord Nichols sold 49,464 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer now directly owns 71,946 shares in the company, valued at approximately $4,172,868. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Lorenzo J. Fertitta purchased 33,000 shares of the stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $49.77 per share, with a total value of $1,642,410.00. Following the transaction, the vice president now owns 47,546,301 shares in the company, valued at $2,366,379,400.77. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 200,000 shares of company stock worth $10,426,000. Corporate insiders own 53.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Truist Financial lowered their price objective 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. Susquehanna boosted their price target on shares of Red Rock Resorts from $63.00 to $70.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. Wells Fargo & Company downgraded shares of Red Rock Resorts from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $63.00 to $64.00 in a report on Wednesday, July 24th. Morgan Stanley upped their target price on shares of 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. Finally, Stifel Nicolaus raised their price target on shares of Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Five 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $63.50.

Red Rock Resorts 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.