Shell Asset Management Co. Cuts Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

Shell Asset Management Co. decreased its position in Red Rock Resorts, Inc. (NASDAQ:RRRGet Rating) by 12.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,519 shares of the company’s stock after selling 1,409 shares during the quarter. Shell Asset Management Co.’s holdings in Red Rock Resorts were worth $462,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RRR. Strs Ohio raised its position in Red Rock Resorts by 56.5% in the fourth 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. New York State Teachers Retirement System grew its stake in shares of Red Rock Resorts by 381.8% in the fourth quarter. New York State Teachers Retirement System now owns 5,300 shares of the company’s stock worth $292,000 after acquiring an additional 4,200 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Red Rock Resorts in the fourth quarter worth $1,959,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Red Rock Resorts by 53.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,110 shares of the company’s stock worth $556,000 after acquiring an additional 3,526 shares in the last quarter. Finally, Buckley Wealth Management LLC acquired a new position in shares of Red Rock Resorts in the fourth quarter worth $215,000. Hedge funds and other institutional investors own 99.30% of the company’s stock.

Red Rock Resorts Price Performance

Shares of RRR opened at $41.53 on Thursday. Red Rock Resorts, Inc. has a 1-year low of $30.98 and a 1-year high of $58.74. The stock has a market cap of $4.46 billion, a PE ratio of 10.08 and a beta of 2.27. The company has a debt-to-equity ratio of 29.17, a current ratio of 1.98 and a quick ratio of 1.93. The firm has a fifty day moving average price of $36.05 and a 200 day moving average price of $42.04.

Red Rock Resorts (NASDAQ:RRRGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.24. Red Rock Resorts had a net margin of 21.30% and a return on equity of 81.97%. The firm had revenue of $401.64 million during the quarter, compared to analysts’ expectations of $408.32 million. During the same period in the previous year, the company earned $0.98 earnings per share. Red Rock Resorts’s quarterly revenue was up 13.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Red Rock Resorts, Inc. will post 2 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft dropped their price target 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. Wells Fargo & Company dropped their price target 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. StockNews.com downgraded shares of Red Rock Resorts from a “buy” rating to a “hold” rating in a research note on Thursday, May 5th. Loop Capital began coverage on shares of Red Rock Resorts in a research note on Monday, July 11th. They set a “hold” rating and a $36.00 target price for the company. Finally, KeyCorp set a $45.00 target price on shares of Red Rock Resorts in a research note on Tuesday, July 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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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