Inceptionr LLC Invests $538,000 in Red Rock Resorts, Inc. $RRR

Inceptionr LLC bought a new position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 8,811 shares of the company’s stock, valued at approximately $538,000.

A number of other hedge funds have also added to or reduced their stakes in the business. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Red Rock Resorts during the 3rd quarter worth about $4,961,000. Capital Fund Management S.A. bought a new position in shares of Red Rock Resorts in the 2nd quarter valued at about $1,441,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Red Rock Resorts in the second quarter valued at about $62,000. Diametric Capital LP acquired a new stake in shares of Red Rock Resorts in the second quarter valued at about $3,786,000. Finally, Cookson Peirce & Co. Inc. bought a new stake in Red Rock Resorts during the third quarter worth about $1,203,000. Institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Stock Performance

NASDAQ:RRR opened at $58.15 on Wednesday. The company has a market cap of $6.11 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 2.41 and a beta of 1.46. Red Rock Resorts, Inc. has a fifty-two week low of $35.09 and a fifty-two week high of $68.99. The company has a debt-to-equity ratio of 10.26, a quick ratio of 0.74 and a current ratio of 0.79. The stock has a fifty day moving average price of $62.22 and a 200-day moving average price of $60.39.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Tuesday, February 10th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.34. Red Rock Resorts had a net margin of 9.35% and a return on equity of 58.13%. The firm had revenue of $511.78 million for the quarter, compared to the consensus estimate of $500.90 million. During the same period in the prior year, the company posted $0.76 earnings per share. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, equities analysts anticipate that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Monday, March 16th. Red Rock Resorts’s payout ratio is currently 33.23%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RRR. Truist Financial reissued a “buy” rating and set a $80.00 price target (up from $75.00) on shares of Red Rock Resorts in a research report on Wednesday, February 11th. UBS Group set a $73.00 price target on shares of Red Rock Resorts in a research report on Wednesday, December 24th. Citizens Jmp boosted their price objective on shares of Red Rock Resorts from $65.00 to $68.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 14th. Wells Fargo & Company upped their target price on shares of Red Rock Resorts from $58.00 to $59.00 and gave the company an “equal weight” rating in a report on Wednesday, February 11th. Finally, Weiss Ratings upgraded Red Rock Resorts from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.15.

About Red Rock Resorts

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.