Quantbot Technologies LP Acquires New Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

Quantbot Technologies LP acquired a new stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,998 shares of the company’s stock, valued at approximately $327,000.

A number of other hedge funds and other institutional investors have also modified their holdings of RRR. Long Pond Capital LP bought a new stake in shares of Red Rock Resorts during the second quarter valued at about $21,987,000. Eminence Capital LP grew its holdings in Red Rock Resorts by 23.7% during the second quarter. Eminence Capital LP now owns 1,952,754 shares of the company’s stock worth $107,265,000 after acquiring an additional 374,128 shares during the period. Sequoia Financial Advisors LLC grew its holdings in Red Rock Resorts by 4,050.3% during the third quarter. Sequoia Financial Advisors LLC now owns 333,769 shares of the company’s stock worth $18,170,000 after acquiring an additional 325,727 shares during the period. Hantz Financial Services Inc. acquired a new position in Red Rock Resorts during the second quarter worth about $14,384,000. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in Red Rock Resorts by 26.7% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company’s stock worth $65,706,000 after acquiring an additional 251,855 shares during the period. 47.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RRR. Wells Fargo & Company lowered their target price on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Mizuho lowered Red Rock Resorts from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $57.00 to $44.00 in a report on Monday, November 25th. Truist Financial lowered their target price on Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating on the stock in a report on Wednesday, October 23rd. Macquarie dropped their price target on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Finally, Morgan Stanley lifted their price target on 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. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Red Rock Resorts presently has an average rating of “Moderate Buy” and an average target price of $60.42.

Red Rock Resorts Price Performance

Shares of RRR opened at $49.89 on Thursday. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of 18.48, a P/E/G ratio of 7.00 and a beta of 2.00. Red Rock Resorts, Inc. has a fifty-two week low of $43.38 and a fifty-two week high of $63.28. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. The business’s 50-day moving average is $52.28 and its 200-day moving average is $53.61.

Red Rock Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.00%. Red Rock Resorts’s dividend payout ratio is 37.04%.

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.