Red Rock Resorts, Inc. (NASDAQ:RRR) COO Robert A. Finch Sells 22,663 Shares

Red Rock Resorts, Inc. (NASDAQ:RRRGet Rating) COO Robert A. Finch sold 22,663 shares of the company’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $39.41, for a total transaction of $893,148.83. Following the completion of the sale, the chief operating officer now owns 111,214 shares in the company, valued at approximately $4,382,943.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Red Rock Resorts Stock Down 0.6 %

Shares of Red Rock Resorts stock opened at $38.64 on Friday. The company has a market cap of $4.15 billion, a price-to-earnings ratio of 11.85 and a beta of 2.25. The company’s 50 day moving average is $38.76 and its 200 day moving average is $40.21. Red Rock Resorts, Inc. has a twelve month low of $30.98 and a twelve month high of $58.74. The company has a quick ratio of 1.58, a current ratio of 1.63 and a debt-to-equity ratio of 29.17.

Red Rock Resorts (NASDAQ:RRRGet Rating) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.42). Red Rock Resorts had a return on equity of 146.71% and a net margin of 17.10%. The business had revenue of $422.20 million during the quarter, compared to the consensus estimate of $404.39 million. During the same quarter in the previous year, the business posted $1.12 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis. Research analysts anticipate that Red Rock Resorts, Inc. will post 1.73 EPS for the current year.

Red Rock Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given a $0.25 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $1.00 annualized dividend and a yield of 2.59%. Red Rock Resorts’s payout ratio is presently 30.67%.

Wall Street Analysts Forecast Growth

RRR has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of Red Rock Resorts from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, August 10th. Loop Capital initiated coverage on shares of Red Rock Resorts in a report on Monday, July 11th. They set a “hold” rating and a $36.00 price target on the stock. KeyCorp set a $45.00 price target on shares of Red Rock Resorts in a report on Tuesday, July 19th. Truist Financial cut their price target on shares of Red Rock Resorts from $65.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, July 20th. Finally, Wells Fargo & Company cut their price target on shares of Red Rock Resorts from $56.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, July 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Red Rock Resorts currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.67.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Eagle Asset Management Inc. bought a new stake in shares of Red Rock Resorts during the 1st quarter valued at $41,469,000. Long Pond Capital LP bought a new stake in shares of Red Rock Resorts during the 2nd quarter valued at $27,421,000. Capital Research Global Investors bought a new stake in shares of Red Rock Resorts during the 1st quarter valued at $23,794,000. Millennium Management LLC raised its position in shares of 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. Finally, Goldman Sachs Group Inc. raised its position in shares of Red Rock Resorts by 29.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,361,285 shares of the company’s stock valued at $45,412,000 after purchasing an additional 313,446 shares during the period. 52.30% of the stock is currently owned by institutional investors.

Red Rock Resorts Company Profile

(Get Rating)

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.

Further Reading

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