Red Rock Resorts, Inc. $RRR Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S reduced its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 27.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,357 shares of the company’s stock after selling 34,443 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Red Rock Resorts were worth $4,875,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of RRR. Tudor Investment Corp ET AL purchased a new position in Red Rock Resorts during the third quarter worth approximately $15,114,000. UBS Group AG increased its position in shares of Red Rock Resorts by 205.1% in the fourth quarter. UBS Group AG now owns 476,311 shares of the company’s stock valued at $29,507,000 after buying an additional 320,175 shares in the last quarter. Capital World Investors increased its position in shares of Red Rock Resorts by 47.1% in the third quarter. Capital World Investors now owns 312,500 shares of the company’s stock valued at $19,081,000 after buying an additional 100,000 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Red Rock Resorts by 92.9% in the third quarter. JPMorgan Chase & Co. now owns 180,185 shares of the company’s stock valued at $11,002,000 after buying an additional 86,770 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of Red Rock Resorts by 1,111.8% during the 4th quarter. State of Alaska Department of Revenue now owns 38,815 shares of the company’s stock worth $2,403,000 after buying an additional 35,612 shares during the period. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Morgan Stanley set a $59.00 target price on Red Rock Resorts in a research report on Wednesday, May 6th. Wells Fargo & Company reduced their price objective 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. Susquehanna reduced their price objective on shares of Red Rock Resorts from $77.00 to $70.00 and set a “positive” rating for the company in a research report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $72.00 price objective on shares of Red Rock Resorts in a report on Thursday, April 30th. Finally, Benchmark dropped their target price on shares of Red Rock Resorts from $67.00 to $63.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Twelve 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $67.53.

Red Rock Resorts Stock Performance

NASDAQ RRR opened at $60.45 on Tuesday. The company has a market cap of $6.35 billion, a PE ratio of 19.44, a price-to-earnings-growth ratio of 4.65 and a beta of 1.36. The stock’s 50 day simple moving average is $56.39 and its 200-day simple moving average is $59.11. Red Rock Resorts, Inc. has a 1-year low of $49.47 and a 1-year high of $68.99. The company has a debt-to-equity ratio of 14.42, a current ratio of 0.81 and a quick ratio of 0.76.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.73 earnings per share (EPS) 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 firm had revenue of $507.32 million during the quarter, compared to analyst estimates of $505.63 million. During the same period in the prior year, the firm earned $0.75 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. As a group, 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 paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Monday, June 15th. Red Rock Resorts’s payout ratio is 33.44%.

Red Rock Resorts Company 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.