State Street Corp Sells 5,614 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

State Street Corp trimmed its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 0.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,126,741 shares of the company’s stock after selling 5,614 shares during the quarter. State Street Corp’s holdings in Red Rock Resorts were worth $61,340,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RRR. Avior Wealth Management LLC raised its holdings in shares of Red Rock Resorts by 3.0% in the third quarter. Avior Wealth Management LLC now owns 7,898 shares of the company’s stock worth $430,000 after buying an additional 232 shares during the period. Truist Financial Corp increased its stake in Red Rock Resorts by 0.9% in the second quarter. Truist Financial Corp now owns 27,545 shares of the company’s stock worth $1,513,000 after purchasing an additional 241 shares during the period. Arizona State Retirement System increased its stake in Red Rock Resorts by 3.3% in the second quarter. Arizona State Retirement System now owns 14,086 shares of the company’s stock worth $774,000 after purchasing an additional 444 shares during the period. WCG Wealth Advisors LLC lifted its position in shares of Red Rock Resorts by 2.5% during the second quarter. WCG Wealth Advisors LLC now owns 18,325 shares of the company’s stock worth $1,007,000 after purchasing an additional 450 shares during the last quarter. Finally, King Luther Capital Management Corp boosted its stake in shares of Red Rock Resorts by 1.2% during the third quarter. King Luther Capital Management Corp now owns 64,043 shares of the company’s stock valued at $3,487,000 after purchasing an additional 765 shares during the period. 47.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RRR. Barclays decreased their price objective on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Morgan Stanley boosted their price target on Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Wednesday, September 4th. Truist Financial reduced their price objective 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 lowered their target price on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, JMP Securities restated a “market outperform” rating and set a $65.00 price target on shares of Red Rock Resorts in a research note on Monday, October 14th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $60.42.

Red Rock Resorts Price Performance

RRR opened at $45.62 on Thursday. The firm has a market capitalization of $4.82 billion, a PE ratio of 16.90, a price-to-earnings-growth ratio of 6.69 and a beta of 2.00. 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 $51.16 and its two-hundred day moving average is $53.53. Red Rock Resorts, Inc. has a 1 year low of $45.33 and a 1 year high of $63.28.

Red Rock Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Monday, December 16th. Red Rock Resorts’s 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.