Red Rock Resorts, Inc. (NASDAQ:RRR) Position Trimmed by Arizona State Retirement System

Arizona State Retirement System lowered its stake in Red Rock Resorts, Inc. (NASDAQ:RRR) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,875 shares of the company’s stock after selling 211 shares during the period. Arizona State Retirement System’s holdings in Red Rock Resorts were worth $740,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of RRR. Kestra Private Wealth Services LLC lifted its holdings in shares of Red Rock Resorts by 1.1% in the third quarter. Kestra Private Wealth Services LLC now owns 27,588 shares of the company’s stock valued at $1,131,000 after purchasing an additional 300 shares in the last quarter. Creative Planning raised its position in Red Rock Resorts by 5.3% during the second quarter. Creative Planning now owns 6,048 shares of the company’s stock valued at $202,000 after buying an additional 305 shares during the period. State of Wyoming lifted its stake in Red Rock Resorts by 9.7% in the 2nd quarter. State of Wyoming now owns 3,818 shares of the company’s stock worth $179,000 after acquiring an additional 339 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in Red Rock Resorts during the 1st quarter worth about $30,000. Finally, Osaic Holdings Inc. grew its stake in Red Rock Resorts by 25.6% during the 2nd quarter. Osaic Holdings Inc. now owns 3,567 shares of the company’s stock valued at $167,000 after acquiring an additional 726 shares in the last quarter. Institutional investors own 47.84% of the company’s stock.

Insider Activity at Red Rock Resorts

In related news, CFO Stephen Lawrence Cootey sold 7,520 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $57.74, for a total value of $434,204.80. Following the completion of the transaction, the chief financial officer now directly owns 243,808 shares of the company’s stock, valued at $14,077,473.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 54.20% of the company’s stock.

Red Rock Resorts Trading Down 1.4 %

NASDAQ:RRR opened at $57.86 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 13.54. The company’s 50 day moving average is $58.33 and its 200-day moving average is $51.02. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 3.08 and a beta of 2.06. Red Rock Resorts, Inc. has a 12 month low of $37.82 and a 12 month high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Wednesday, February 7th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.55. The firm had revenue of $462.71 million during the quarter, compared to analyst estimates of $440.75 million. Red Rock Resorts had a net margin of 10.21% and a return on equity of 114.32%. The business’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 EPS. Equities analysts anticipate that Red Rock Resorts, Inc. will post 1.93 EPS for the current year.

Red Rock Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Thursday, March 14th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 33.90%.

Wall Street Analysts Forecast Growth

RRR has been the topic of a number of research analyst reports. JMP Securities boosted their price objective on shares of Red Rock Resorts from $55.00 to $61.00 and gave the company a “market outperform” rating in a research report on Thursday, February 8th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Red Rock Resorts from $54.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Barclays lifted their price objective on Red Rock Resorts from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Macquarie upgraded Red Rock Resorts from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $51.00 to $58.00 in a research note on Wednesday, January 17th. Finally, Wells Fargo & Company raised their price target on Red Rock Resorts from $57.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Four analysts have rated the stock with a hold rating and nine have issued a buy 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 $60.67.

Red Rock Resorts Profile

Red Rock Resorts, Inc, through its interest in Station Casinos LLC, develops and operates casino and entertainment properties in the United States. The company owns and operates gaming and entertainment facilities, including Durango Casino & Resort and smaller casinos in the Las Vegas regional market.