State of New Jersey Common Pension Fund D cut its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR – Get Rating) by 7.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 51,096 shares of the company’s stock after selling 4,290 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Red Rock Resorts were worth $2,481,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of the business. Loews Corp acquired a new position in Red Rock Resorts during the 4th quarter valued at about $210,000. Millennium Management LLC boosted its stake in Red Rock Resorts by 2,522.9% during the 4th quarter. Millennium Management LLC now owns 501,098 shares of the company’s stock valued at $27,565,000 after purchasing an additional 481,993 shares during the period. CNA Financial Corp boosted its stake in Red Rock Resorts by 19.4% during the 4th quarter. CNA Financial Corp now owns 33,906 shares of the company’s stock valued at $1,865,000 after purchasing an additional 5,510 shares during the period. Bank of America Corp DE boosted its stake in Red Rock Resorts by 9.8% during the 4th quarter. Bank of America Corp DE now owns 104,949 shares of the company’s stock valued at $5,773,000 after purchasing an additional 9,383 shares during the period. Finally, LMR Partners LLP acquired a new position in Red Rock Resorts during the 4th quarter valued at about $5,131,000. 99.30% of the stock is owned by institutional investors and hedge funds.
Red Rock Resorts Trading Up 1.5 %
Red Rock Resorts stock opened at $39.92 on Tuesday. Red Rock Resorts, Inc. has a 1 year low of $30.98 and a 1 year high of $58.74. The firm’s 50 day moving average price is $35.75 and its two-hundred day moving average price is $42.12. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of 9.69 and a beta of 2.27. The company has a debt-to-equity ratio of 29.17, a quick ratio of 1.93 and a current ratio of 1.98.
Wall Street Analysts Forecast Growth
RRR has been the subject of a number of analyst reports. Wells Fargo & Company reduced their target price on shares of Red Rock Resorts from $56.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, July 14th. Berenberg Bank initiated coverage on shares of Red Rock Resorts in a research note on Thursday, May 12th. They set a “buy” rating and a $50.00 target price for the company. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Red Rock Resorts from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, July 13th. Truist Financial reduced their price target on shares of Red Rock Resorts from $65.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, July 20th. Finally, Loop Capital assumed coverage on shares of Red Rock Resorts in a research note on Monday, July 11th. They issued a “hold” rating and a $36.00 price target for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $46.75.
Red Rock Resorts Company Profile
Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, develops and operates casino and entertainment properties in the United States. It operates through two segments, Las Vegas Operations and Native American Management. The company owns and operates 9 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.
- Get a free copy of the StockNews.com research report on Red Rock Resorts (RRR)
- MarketBeat Podcast: Find Investing Opportunities For The Rest of 2022
- Deep Value High Yield Newell Brands Is Ready To Bottom
- The Colgate-Palmolive Growth Outlook Brightens
- These Stocks Outperformed Last Time There Was A Recession
- Does Rivian’s Stock Still Have A Future?
Want More Great Investing Ideas?
- Bear Market Game Plan!
- The 10 Best Stocks to Own in 2022
- 7 Stocks to Buy and Hold Forever
- 3 Stocks to DOUBLE This Year
Receive News & Ratings for Red Rock Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Rock Resorts and related companies with MarketBeat.com's FREE daily email newsletter.