Red Rock Resorts, Inc. (NASDAQ:RRR) Holdings Boosted by Cerity Partners LLC

Cerity Partners LLC grew its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 637.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,001 shares of the company’s stock after purchasing an additional 63,960 shares during the quarter. Cerity Partners LLC owned approximately 0.07% of Red Rock Resorts worth $4,029,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. US Bancorp DE increased its holdings 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 worth $85,000 after acquiring an additional 1,490 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of Red Rock Resorts in the second quarter valued at approximately $98,000. nVerses Capital LLC bought a new stake in shares of Red Rock Resorts during the second quarter valued at approximately $154,000. Mayfair Advisory Group LLC acquired a new position in shares of Red Rock Resorts during the third quarter worth approximately $218,000. Finally, Ritholtz Wealth Management bought a new position in Red Rock Resorts in the 3rd quarter worth approximately $215,000. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RRR. Mizuho downgraded Red Rock Resorts from an “outperform” rating to a “neutral” rating and cut their target price for the company from $57.00 to $44.00 in a research note on Monday, November 25th. Morgan Stanley upped their price objective on shares of Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 4th. Truist Financial lowered their target price on shares of Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating on the stock in a research note on Wednesday, October 23rd. JMP Securities reaffirmed a “market outperform” rating and issued a $65.00 price target on shares of Red Rock Resorts in a research note on Monday, October 14th. Finally, Barclays lowered their price objective on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.42.

Red Rock Resorts Stock Performance

Shares of RRR opened at $50.09 on Friday. The company has a 50-day moving average of $52.46 and a two-hundred day moving average of $53.58. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 6.18 and a beta of 2.04. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. Red Rock Resorts, Inc. has a one year low of $43.38 and a one year high of $63.28.

Red Rock Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.00%. Red Rock Resorts’s dividend payout ratio is 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.