Westfield Capital Management Co. LP Buys 10,236 Shares of Red Rock Resorts, Inc. $RRR

Westfield Capital Management Co. LP raised its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,157,653 shares of the company’s stock after acquiring an additional 10,236 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Red Rock Resorts were worth $71,717,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in RRR. Arrowstreet Capital Limited Partnership grew its position in shares of Red Rock Resorts by 2,248.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,354,644 shares of the company’s stock valued at $82,715,000 after acquiring an additional 1,296,956 shares during the period. Vanguard Group Inc. boosted its holdings in Red Rock Resorts by 6.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,564,421 shares of the company’s stock valued at $339,764,000 after purchasing an additional 349,822 shares during the period. UBS Group AG boosted its holdings in Red Rock Resorts by 205.1% in the 4th quarter. UBS Group AG now owns 476,311 shares of the company’s stock valued at $29,507,000 after purchasing an additional 320,175 shares during the period. Voloridge Investment Management LLC lifted its holdings in shares of Red Rock Resorts by 556.5% during the 3rd quarter. Voloridge Investment Management LLC now owns 334,610 shares of the company’s stock worth $20,431,000 after acquiring an additional 283,642 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of Red Rock Resorts by 53.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 793,371 shares of the company’s stock worth $41,279,000 after acquiring an additional 277,426 shares during the last quarter. Institutional investors and hedge funds own 47.84% of the company’s stock.

Analyst Ratings Changes

RRR has been the subject of a number of research analyst reports. Jefferies Financial Group dropped their price objective on shares of Red Rock Resorts from $79.00 to $74.00 and set a “buy” rating for the company in a report on Monday, April 6th. Morgan Stanley set a $59.00 price objective on shares of Red Rock Resorts in a report on Wednesday, May 6th. Zacks Research downgraded shares of Red Rock Resorts from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $72.00 price objective on shares of Red Rock Resorts in a report on Thursday, April 30th. Finally, Citigroup dropped their price objective on shares of Red Rock Resorts from $76.00 to $62.00 and set a “buy” rating for the company in a report on Friday, May 1st. Twelve investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.53.

Red Rock Resorts Price Performance

RRR stock opened at $57.39 on Friday. The firm’s 50-day moving average price is $55.10 and its two-hundred day moving average price is $58.78. Red Rock Resorts, Inc. has a 12-month low of $47.56 and a 12-month high of $68.99. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 4.30 and a beta of 1.36. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 14.42.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.17). The business had revenue of $507.32 million for the quarter, compared to the consensus estimate of $505.63 million. Red Rock Resorts had a return on equity of 61.67% and a net margin of 9.21%.The company’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 EPS. As a group, equities analysts predict that Red Rock Resorts, Inc. will post 1.53 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued 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, June 15th. Red Rock Resorts’s dividend payout ratio is 33.44%.

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.