VIRGINIA RETIREMENT SYSTEMS ET Al Takes $2.71 Million Position in Red Rock Resorts, Inc. $RRR

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 43,700 shares of the company’s stock, valued at approximately $2,707,000.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Red Rock Resorts by 6.7% during the third 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 in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Red Rock Resorts by 2,248.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,354,644 shares of the company’s stock valued at $82,715,000 after purchasing an additional 1,296,956 shares in the last quarter. Balyasny Asset Management L.P. boosted its position in shares of 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 valued at $41,279,000 after purchasing an additional 277,426 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Red Rock Resorts by 0.3% during the third quarter. Dimensional Fund Advisors LP now owns 493,420 shares of the company’s stock valued at $30,133,000 after purchasing an additional 1,589 shares in the last quarter. Finally, UBS Group AG boosted its position in shares of Red Rock Resorts by 205.1% during the fourth 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 in the last quarter. 47.84% of the stock is owned by hedge funds and other institutional investors.

Red Rock Resorts Stock Up 1.0%

Shares of Red Rock Resorts stock opened at $51.56 on Friday. The company has a 50-day simple moving average of $56.03 and a two-hundred day simple moving average of $58.88. The stock has a market capitalization of $5.42 billion, a PE ratio of 16.58, a price-to-earnings-growth ratio of 3.43 and a beta of 1.35. Red Rock Resorts, Inc. has a 52-week low of $44.28 and a 52-week high of $68.99. The company has a debt-to-equity ratio of 14.42, a quick ratio of 0.76 and a current ratio of 0.81.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.17). The firm had revenue of $507.32 million for the quarter, compared to analysts’ expectations of $505.63 million. Red Rock Resorts had a net margin of 9.21% and a return on equity of 61.67%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.75 EPS. On average, analysts anticipate that Red Rock Resorts, Inc. will post 1.73 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, June 15th. Red Rock Resorts’s dividend payout ratio (DPR) is currently 33.44%.

Analyst Ratings Changes

Several research firms recently weighed in on RRR. Citigroup dropped their price target on Red Rock Resorts from $76.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Susquehanna dropped their price target on Red Rock Resorts from $77.00 to $70.00 and set a “positive” rating on the stock in a research report on Thursday, April 30th. Stifel Nicolaus set a $72.00 price target on Red Rock Resorts in a research report on Thursday, April 30th. Morgan Stanley set a $59.00 price target on Red Rock Resorts in a research report on Wednesday, May 6th. Finally, Truist Financial dropped their price target on Red Rock Resorts from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Twelve investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.67.

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.