59,184 Shares in Red Rock Resorts, Inc. $RRR Bought by Quantbot Technologies LP

Quantbot Technologies LP purchased a new stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 59,184 shares of the company’s stock, valued at approximately $3,614,000. Quantbot Technologies LP owned 0.06% of Red Rock Resorts as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of RRR. Bamco Inc. NY boosted its stake in shares of Red Rock Resorts by 5.7% during the 2nd quarter. Bamco Inc. NY now owns 12,269,004 shares of the company’s stock worth $638,356,000 after acquiring an additional 666,593 shares in the last quarter. Vanguard Group Inc. raised 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 worth $339,764,000 after purchasing an additional 349,822 shares during the period. Eminence Capital LP raised its holdings in Red Rock Resorts by 23.4% in the 2nd quarter. Eminence Capital LP now owns 3,059,372 shares of the company’s stock worth $159,179,000 after purchasing an additional 581,061 shares during the period. Balyasny Asset Management L.P. boosted its position in Red Rock Resorts by 53.8% during the second quarter. Balyasny Asset Management L.P. now owns 793,371 shares of the company’s stock worth $41,279,000 after purchasing an additional 277,426 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Red Rock Resorts by 56.2% in the first 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. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Trading Down 3.2%

RRR opened at $60.55 on Monday. The company has a debt-to-equity ratio of 10.26, a current ratio of 0.79 and a quick ratio of 0.74. The company’s 50 day simple moving average is $62.70 and its two-hundred day simple moving average is $60.42. Red Rock Resorts, Inc. has a 1-year low of $35.09 and a 1-year high of $68.99. The firm has a market capitalization of $6.36 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 2.50 and a beta of 1.46.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.34. Red Rock Resorts had a return on equity of 58.13% and a net margin of 9.35%.The business had revenue of $511.78 million during the quarter, compared to analyst estimates of $500.90 million. During the same period in the prior year, the business earned $0.76 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. Analysts expect that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, March 16th. Red Rock Resorts’s dividend payout ratio is presently 33.23%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Truist Financial restated a “buy” rating and issued a $80.00 price objective (up from $75.00) on shares of Red Rock Resorts in a research report on Wednesday, February 11th. Stifel Nicolaus boosted their price target on shares of Red Rock Resorts from $71.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Jefferies Financial Group restated a “buy” rating and set a $79.00 price objective on shares of Red Rock Resorts in a research report on Wednesday, February 11th. Susquehanna increased their price objective on shares of Red Rock Resorts from $69.00 to $77.00 and gave the company a “positive” rating in a report on Wednesday, February 11th. Finally, Citigroup lifted their target price on shares of Red Rock Resorts from $63.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $71.15.

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.