Arizona State Retirement System Has $812,000 Stake in Red Rock Resorts, Inc. (NASDAQ:RRR)

Arizona State Retirement System decreased its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRRGet Rating) by 2.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 16,713 shares of the company’s stock after selling 334 shares during the period. Arizona State Retirement System’s holdings in Red Rock Resorts were worth $812,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Lindbrook Capital LLC boosted its stake in Red Rock Resorts by 247.1% during the 1st quarter. Lindbrook Capital LLC now owns 1,024 shares of the company’s stock valued at $50,000 after purchasing an additional 729 shares during the period. AHL Investment Management Inc. bought a new stake in Red Rock Resorts during the 4th quarter valued at approximately $83,000. Counterpoint Mutual Funds LLC bought a new stake in Red Rock Resorts during the 1st quarter valued at approximately $92,000. FourThought Financial LLC boosted its stake in Red Rock Resorts by 17.9% during the 1st quarter. FourThought Financial LLC now owns 2,353 shares of the company’s stock valued at $114,000 after purchasing an additional 357 shares during the period. Finally, Strs Ohio boosted its stake in Red Rock Resorts by 56.5% during the 4th quarter. Strs Ohio now owns 3,600 shares of the company’s stock valued at $198,000 after purchasing an additional 1,300 shares during the period. Institutional investors and hedge funds own 99.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. KeyCorp set a $45.00 target price on Red Rock Resorts in a research note on Tuesday, July 19th. StockNews.com downgraded Red Rock Resorts from a “buy” rating to a “hold” rating in a research report on Thursday, May 5th. Berenberg Bank began coverage on Red Rock Resorts in a research report on Thursday, May 12th. They issued a “buy” rating and a $50.00 price objective for the company. Loop Capital began coverage on Red Rock Resorts in a research report on Monday, July 11th. They issued a “hold” rating and a $36.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Red Rock Resorts from $54.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, July 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $46.75.

Red Rock Resorts Trading Up 2.8 %

Shares of RRR opened at $41.02 on Wednesday. Red Rock Resorts, Inc. has a 1 year low of $30.98 and a 1 year high of $58.74. The company has a current ratio of 1.98, a quick ratio of 1.93 and a debt-to-equity ratio of 29.17. The stock has a 50 day simple moving average of $35.94 and a 200-day simple moving average of $42.05. The stock has a market cap of $4.41 billion, a PE ratio of 9.96 and a beta of 2.27.

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. Red Rock Resorts had a return on equity of 81.97% and a net margin of 21.30%. The business had revenue of $401.64 million during the quarter, compared to analysts’ expectations of $408.32 million. During the same period in the prior year, the firm posted $0.98 EPS. Red Rock Resorts’s quarterly revenue was up 13.9% compared to the same quarter last year. On average, sell-side analysts predict that Red Rock Resorts, Inc. will post 2 EPS for the current fiscal year.

Red Rock Resorts 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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