Capital Financial Group Inc. Co. ADV Buys Shares of 25,646 Red Rock Resorts, Inc. $RRR

Capital Financial Group Inc. Co. ADV purchased a new stake in Red Rock Resorts, Inc. (NASDAQ:RRR) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 25,646 shares of the company’s stock, valued at approximately $1,589,000.

Other institutional investors have also recently modified their holdings of the company. Salomon & Ludwin LLC purchased a new stake in shares of Red Rock Resorts in the fourth quarter valued at approximately $25,000. Kestra Advisory Services LLC purchased a new stake in shares of Red Rock Resorts in the fourth quarter valued at approximately $27,000. GAMMA Investing LLC boosted its stake in shares of Red Rock Resorts by 53.8% in the fourth quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock valued at $47,000 after buying an additional 263 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of 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 in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in Red Rock Resorts during the second quarter worth $94,000. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RRR shares. Stifel Nicolaus set a $70.00 price objective on Red Rock Resorts in a report on Friday, May 29th. Wall Street Zen cut Red Rock Resorts from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Truist Financial reduced their price objective on Red Rock Resorts from $70.00 to $68.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Citizens Jmp reduced their price objective on Red Rock Resorts from $71.00 to $67.00 and set a “market outperform” rating for the company in a report on Thursday, April 30th. Finally, Morgan Stanley set a $59.00 price objective on Red Rock Resorts in a report on Wednesday, May 6th. Twelve analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Red Rock Resorts has an average rating of “Moderate Buy” and an average target price of $67.53.

Red Rock Resorts Stock Performance

NASDAQ RRR opened at $61.13 on Tuesday. Red Rock Resorts, Inc. has a fifty-two week low of $48.09 and a fifty-two week high of $68.99. The stock has a market cap of $6.42 billion, a price-to-earnings ratio of 19.66, a price-to-earnings-growth ratio of 4.78 and a beta of 1.36. The business has a fifty day moving average of $55.93 and a 200-day moving average of $59.05. 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 (NASDAQ:RRR) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.17). Red Rock Resorts had a return on equity of 61.67% and a net margin of 9.21%.The company had revenue of $507.32 million during the quarter, compared to analyst estimates of $505.63 million. During the same period last year, the firm earned $0.75 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. As a group, analysts predict that Red Rock Resorts, Inc. will post 1.53 earnings per share 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. Investors of record on Monday, June 15th will be paid a $0.26 dividend. 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 is presently 33.44%.

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.