Hsbc Holdings PLC Purchases 8,357 Shares of Red Rock Resorts, Inc. $RRR

Hsbc Holdings PLC lifted its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR) by 34.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,355 shares of the company’s stock after buying an additional 8,357 shares during the period. Hsbc Holdings PLC’s holdings in Red Rock Resorts were worth $2,007,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. AQR Capital Management LLC bought a new stake in Red Rock Resorts during the first quarter worth $308,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Red Rock Resorts by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,272 shares of the company’s stock valued at $1,270,000 after purchasing an additional 1,282 shares during the period. Millennium Management LLC grew its stake in Red Rock Resorts by 56.2% in the 1st quarter. Millennium Management LLC now owns 430,150 shares of the company’s stock valued at $18,656,000 after purchasing an additional 154,839 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Red Rock Resorts by 4.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 106,275 shares of the company’s stock valued at $4,609,000 after purchasing an additional 4,699 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Red Rock Resorts by 9.1% during the 2nd quarter. American Century Companies Inc. now owns 25,884 shares of the company’s stock valued at $1,347,000 after purchasing an additional 2,166 shares during the last quarter. 47.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RRR has been the topic of a number of research analyst reports. Citigroup cut their price target on shares of Red Rock Resorts from $76.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, May 1st. 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 issued a $72.00 price objective on shares of Red Rock Resorts in a research report on Thursday, April 30th. Wells Fargo & Company dropped their target price on shares of Red Rock Resorts from $59.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Red Rock Resorts from $73.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $67.81.

Red Rock Resorts Stock Down 2.0%

Shares of NASDAQ RRR opened at $65.89 on Tuesday. Red Rock Resorts, Inc. has a one year low of $50.52 and a one year high of $68.99. The company has a debt-to-equity ratio of 14.42, a current ratio of 0.81 and a quick ratio of 0.76. The business’s fifty day moving average price is $57.12 and its 200-day moving average price is $59.37. The stock has a market capitalization of $6.92 billion, a PE ratio of 21.19, a P/E/G ratio of 5.09 and a beta of 1.36.

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

Red Rock Resorts Announces Dividend

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 dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.04 annualized dividend and a yield of 1.6%. Red Rock Resorts’s dividend payout ratio is 33.44%.

Red Rock Resorts Profile

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.