Hsbc Holdings PLC Has $2.01 Million Stock Holdings in Red Rock Resorts, Inc. $RRR

Hsbc Holdings PLC boosted its position in Red Rock Resorts, Inc. (NASDAQ:RRR) by 34.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,355 shares of the company’s stock after buying an additional 8,357 shares during the period. Hsbc Holdings PLC’s holdings in Red Rock Resorts were worth $2,007,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Salomon & Ludwin LLC bought a new position in Red Rock Resorts in the fourth quarter worth approximately $25,000. Kestra Advisory Services LLC bought a new stake in shares of Red Rock Resorts during the fourth quarter valued at approximately $27,000. GAMMA Investing LLC raised its position in shares of Red Rock Resorts by 53.8% during the fourth quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock worth $47,000 after purchasing an additional 263 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Red Rock Resorts by 98.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,474 shares of the company’s stock worth $91,000 after purchasing an additional 733 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in shares of Red Rock Resorts in the 2nd quarter worth $94,000. 47.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RRR. Wells Fargo & Company reduced their price target on shares of Red Rock Resorts from $59.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. Wall Street Zen downgraded shares of Red Rock Resorts from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Zacks Research lowered shares of Red Rock Resorts from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. 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 report on Thursday, April 30th. Finally, Citizens Jmp decreased their target price on shares of Red Rock Resorts from $71.00 to $67.00 and set a “market outperform” rating for the company in a research report on Thursday, April 30th. Thirteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Red Rock Resorts currently has an average rating of “Moderate Buy” and an average target price of $67.81.

Red Rock Resorts Trading Down 2.0%

Shares of Red Rock Resorts stock opened at $65.89 on Tuesday. The stock has a fifty day simple moving average of $57.12 and a 200 day simple moving average of $59.37. Red Rock Resorts, Inc. has a 12-month low of $50.52 and a 12-month high of $68.99. The company has a market capitalization of $6.92 billion, a P/E ratio of 21.19, a price-to-earnings-growth ratio of 5.09 and a beta of 1.36. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 14.42.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.17). The company had revenue of $507.32 million for the quarter, compared to the consensus estimate of $505.63 million. Red Rock Resorts had a net margin of 9.21% and a return on equity of 61.67%. Red Rock Resorts’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business posted $0.75 earnings per share. On average, sell-side analysts anticipate that Red Rock Resorts, Inc. will post 1.53 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.26 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.04 annualized dividend and a dividend yield of 1.6%. Red Rock Resorts’s dividend payout ratio is currently 33.44%.

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.