Hsbc Holdings PLC Purchases 8,357 Shares of Red Rock Resorts, Inc. $RRR

Hsbc Holdings PLC increased its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 34.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,355 shares of the company’s stock after acquiring an additional 8,357 shares during the quarter. Hsbc Holdings PLC’s holdings in Red Rock Resorts were worth $2,007,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Salomon & Ludwin LLC bought a new stake in Red Rock Resorts during the 4th quarter worth about $25,000. Kestra Advisory Services LLC acquired a new stake in shares of Red Rock Resorts during the 4th quarter worth approximately $27,000. Rockefeller Capital Management L.P. raised its stake in shares of Red Rock Resorts by 1,924.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company’s stock worth $31,000 after buying an additional 481 shares during the last quarter. GAMMA Investing LLC raised its stake 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 buying an additional 263 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Red Rock Resorts by 98.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,474 shares of the company’s stock valued at $91,000 after buying an additional 733 shares during the period. Institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Trading Up 1.1%

Red Rock Resorts stock traded up $0.72 during mid-day trading on Friday, hitting $64.21. 477,221 shares of the company’s stock were exchanged, compared to its average volume of 716,029. The company’s 50 day simple moving average is $58.77 and its 200-day simple moving average is $59.58. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 14.42. The firm has a market capitalization of $6.74 billion, a P/E ratio of 20.65, a PEG ratio of 4.86 and a beta of 1.35. Red Rock Resorts, Inc. has a fifty-two week low of $50.52 and a fifty-two week high of $68.99.

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

Red Rock Resorts Announces Dividend

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

Wall Street Analysts Forecast Growth

RRR has been the subject of a number of analyst reports. Zacks Research lowered shares of Red Rock Resorts from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. The Goldman Sachs Group began coverage on Red Rock Resorts in a research report on Friday, June 26th. They issued a “buy” rating and a $72.00 price target on the stock. Wall Street Zen cut Red Rock Resorts from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. dropped their price objective on Red Rock Resorts from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Finally, Truist Financial cut their target price on Red Rock Resorts from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Red Rock Resorts has an average rating of “Moderate Buy” and a consensus price target of $68.12.

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.