SWP Investment Management LLC Takes Position in Red Rock Resorts, Inc. $RRR

SWP Investment Management LLC purchased a new position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 42,763 shares of the company’s stock, valued at approximately $2,782,000. Red Rock Resorts makes up about 1.9% of SWP Investment Management LLC’s investment portfolio, making the stock its 28th largest position.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. AQR Capital Management LLC acquired a new stake in shares of Red Rock Resorts during the first quarter worth about $308,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 worth $1,270,000 after buying an additional 1,282 shares during the period. Millennium Management LLC raised its position in Red Rock Resorts by 56.2% during the 1st quarter. Millennium Management LLC now owns 430,150 shares of the company’s stock worth $18,656,000 after buying an additional 154,839 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in 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 worth $4,609,000 after buying an additional 4,699 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in 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 acquiring an additional 2,166 shares during the period. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Analysts Set New Price Targets

RRR has been the topic of several recent research reports. UBS Group set a $75.00 price target on shares of Red Rock Resorts in a report on Thursday, July 2nd. Jefferies Financial Group reiterated a “buy” rating on shares of Red Rock Resorts in a research note on Thursday, July 2nd. Truist Financial boosted their price objective on Red Rock Resorts from $68.00 to $75.00 and gave the company a “buy” rating in a report on Monday, July 20th. Stifel Nicolaus set a $70.00 target price on Red Rock Resorts in a research note on Friday, May 29th. Finally, Bank of America raised their target price on Red Rock Resorts from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Fourteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $71.24.

Red Rock Resorts Stock Up 1.8%

RRR stock opened at $65.61 on Tuesday. Red Rock Resorts, Inc. has a 52 week low of $50.52 and a 52 week high of $68.99. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 14.42. The firm has a 50-day simple moving average of $62.55 and a 200-day simple moving average of $59.83. The stock has a market capitalization of $6.89 billion, a P/E ratio of 21.10, a P/E/G ratio of 4.73 and a beta of 1.36.

Red Rock Resorts Company 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.