Russell Investments Group Ltd. Increases Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

Russell Investments Group Ltd. raised its stake in Red Rock Resorts, Inc. (NASDAQ:RRR) by 21.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,686 shares of the company’s stock after acquiring an additional 3,810 shares during the period. Russell Investments Group Ltd.’s holdings in Red Rock Resorts were worth $1,157,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Eminence Capital LP lifted its position in Red Rock Resorts by 6.0% in the 3rd quarter. Eminence Capital LP now owns 1,959,685 shares of the company’s stock valued at $80,347,000 after acquiring an additional 111,651 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Red Rock Resorts during the fourth quarter valued at $40,331,000. Swiss National Bank increased its holdings in Red Rock Resorts by 1.0% in the 3rd quarter. Swiss National Bank now owns 108,700 shares of the company’s stock worth $4,457,000 after buying an additional 1,100 shares in the last quarter. Bamco Inc. NY raised its position in Red Rock Resorts by 10.8% in the 3rd quarter. Bamco Inc. NY now owns 9,856,963 shares of the company’s stock worth $404,135,000 after buying an additional 962,841 shares during the last quarter. Finally, EJF Capital LLC lifted its stake in Red Rock Resorts by 33.0% during the 3rd quarter. EJF Capital LLC now owns 18,953 shares of the company’s stock valued at $777,000 after acquiring an additional 4,698 shares during the period. 47.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. JMP Securities reduced their price target on shares of Red Rock Resorts from $66.00 to $65.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 8th. Morgan Stanley boosted their target price on shares of Red Rock Resorts from $51.00 to $53.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Stifel Nicolaus dropped their price target on Red Rock Resorts from $61.00 to $59.00 and set a “hold” rating on the stock in a research note on Wednesday, May 8th. Wells Fargo & Company reduced their price objective on Red Rock Resorts from $66.00 to $63.00 and set an “overweight” rating for the company in a research report on Wednesday, May 8th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Red Rock Resorts from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.58.

Insider Buying and Selling

In other Red Rock Resorts news, CEO Frank J. Fertitta III sold 800,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $50.39, for a total value of $40,312,000.00. Following the completion of the transaction, the chief executive officer now directly owns 45,847,301 shares in the company, valued at approximately $2,310,245,497.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Red Rock Resorts news, CEO Frank J. Fertitta III sold 800,000 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $50.39, for a total value of $40,312,000.00. Following the sale, the chief executive officer now owns 45,847,301 shares in the company, valued at approximately $2,310,245,497.39. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Stephen Lawrence Cootey sold 7,520 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $57.74, for a total value of $434,204.80. Following the transaction, the chief financial officer now owns 243,808 shares of the company’s stock, valued at approximately $14,077,473.92. The disclosure for this sale can be found here. 53.28% of the stock is currently owned by company insiders.

Red Rock Resorts Trading Down 0.3 %

Red Rock Resorts stock opened at $51.32 on Friday. Red Rock Resorts, Inc. has a 12-month low of $37.82 and a 12-month high of $63.28. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 17.82, a P/E/G ratio of 2.46 and a beta of 2.08. The firm has a 50 day moving average of $56.78 and a 200 day moving average of $53.02. The company has a current ratio of 0.90, a quick ratio of 0.76 and a debt-to-equity ratio of 18.49.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.18. Red Rock Resorts had a net margin of 9.79% and a return on equity of 98.44%. The firm had revenue of $488.90 million during the quarter, compared to analysts’ expectations of $490.49 million. During the same period in the prior year, the company posted $0.75 earnings per share. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, research analysts predict that Red Rock Resorts, Inc. will post 1.83 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Friday, June 14th. Red Rock Resorts’s dividend payout ratio (DPR) is 34.72%.

Red Rock Resorts Company 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.