Commonwealth of Pennsylvania Public School Empls Retrmt SYS Invests $744,000 in Red Rock Resorts, Inc. $RRR

Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Red Rock Resorts, Inc. (NASDAQ:RRR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 12,017 shares of the company’s stock, valued at approximately $744,000.

Other hedge funds also recently made changes to their positions in the company. Salomon & Ludwin LLC acquired a new stake in shares of Red Rock Resorts in the 4th quarter worth $25,000. GAMMA Investing LLC lifted its stake in shares of Red Rock Resorts by 53.8% in the 4th quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock worth $47,000 after acquiring an additional 263 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Red Rock Resorts by 98.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,474 shares of the company’s stock worth $91,000 after acquiring an additional 733 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Red Rock Resorts in the 2nd quarter worth $94,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Red Rock Resorts by 1,385.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,872 shares of the company’s stock worth $97,000 after acquiring an additional 1,746 shares during the period. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Stock Up 2.9%

Shares of NASDAQ RRR opened at $59.77 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 14.42. Red Rock Resorts, Inc. has a 52 week low of $47.56 and a 52 week high of $68.99. The firm has a 50-day moving average price of $55.26 and a 200 day moving average price of $58.87. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 4.40 and a beta of 1.36.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.17). Red Rock Resorts had a net margin of 9.21% and a return on equity of 61.67%. The company had revenue of $507.32 million during the quarter, compared to analyst estimates of $505.63 million. During the same quarter last year, the business earned $0.75 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities research analysts anticipate that Red Rock Resorts, Inc. will post 1.53 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 issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, June 15th. Red Rock Resorts’s dividend payout ratio (DPR) is 33.44%.

Wall Street Analyst Weigh In

Several analysts recently commented on RRR shares. Benchmark reduced their price objective on shares of Red Rock Resorts from $67.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Wall Street Zen cut shares of Red Rock Resorts from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. reduced their price objective on shares of Red Rock Resorts from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Morgan Stanley set a $59.00 price objective on shares of Red Rock Resorts in a research note on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $72.00 price objective on shares of Red Rock Resorts in a research note on Thursday, April 30th. Twelve investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.53.

About Red Rock Resorts

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.