Red Rock Resorts, Inc. (NASDAQ:RRR) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its holdings in Red Rock Resorts, Inc. (NASDAQ:RRRGet 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.

Red Rock Resorts (NASDAQ:RRRGet Rating) last issued its earnings results on Tuesday, May 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.24. The business had revenue of $401.64 million for the quarter, compared to analysts’ expectations of $408.32 million. Red Rock Resorts had a return on equity of 81.97% and a net margin of 21.30%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 EPS. On average, research analysts predict that Red Rock Resorts, Inc. will post 2 EPS for the current fiscal year.

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

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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.

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Institutional Ownership by Quarter for Red Rock Resorts (NASDAQ:RRR)

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