Red Rock Resorts, Inc. (NASDAQ:RRR) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its holdings in shares of Red Rock Resorts, Inc. (NASDAQ:RRR – Get Rating) by 39.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,185 shares of the company’s stock after selling 7,267 shares during the period. Hsbc Holdings PLC’s holdings in Red Rock Resorts were worth $388,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in Red Rock Resorts by 32.9% during the 3rd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 13,413 shares of the company’s stock worth $459,000 after purchasing an additional 3,324 shares during the period. AdvisorShares Investments LLC grew its holdings in shares of Red Rock Resorts by 56.3% in the 2nd quarter. AdvisorShares Investments LLC now owns 22,375 shares of the company’s stock worth $747,000 after acquiring an additional 8,059 shares during the period. Seven Eight Capital LP acquired a new stake in shares of Red Rock Resorts in the 3rd quarter worth approximately $237,000. Long Pond Capital LP acquired a new stake in shares of Red Rock Resorts in the 2nd quarter worth approximately $27,421,000. Finally, Point72 Hong Kong Ltd grew its holdings in shares of Red Rock Resorts by 191.1% in the 2nd quarter. Point72 Hong Kong Ltd now owns 13,593 shares of the company’s stock worth $453,000 after acquiring an additional 8,924 shares during the period. Institutional investors and hedge funds own 52.45% of the company’s stock.

Red Rock Resorts Trading Up 0.8 %

Shares of Red Rock Resorts stock opened at $44.01 on Wednesday. Red Rock Resorts, Inc. has a fifty-two week low of $30.98 and a fifty-two week high of $50.55. The firm has a market cap of $4.58 billion, a PE ratio of 13.14, a P/E/G ratio of 20.77 and a beta of 2.19. The business’s fifty day moving average is $44.35 and its two-hundred day moving average is $41.65. The company has a quick ratio of 0.71, a current ratio of 0.75 and a debt-to-equity ratio of 91.76.

Red Rock Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Tuesday, March 14th. Red Rock Resorts’s dividend payout ratio is presently 29.85%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RRR. TheStreet upgraded Red Rock Resorts from a “c” rating to a “b-” rating in a report on Tuesday, February 28th. Wells Fargo & Company upped their price target on Red Rock Resorts from $48.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, February 8th. StockNews.com raised Red Rock Resorts from a “hold” rating to a “buy” rating in a research note on Thursday, February 9th. Deutsche Bank Aktiengesellschaft upped their target price on Red Rock Resorts from $51.00 to $53.00 in a research note on Wednesday, February 8th. Finally, Truist Financial upped their target price on Red Rock Resorts from $45.00 to $49.00 in a research note on Wednesday, February 8th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.58.

Red Rock Resorts Company Profile

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Red Rock Resorts, Inc is a holding company engaged in the management and development of gaming and entertainment facilities. The firm operates through the following segments: Las Vegas Operations and Native American Management. Its amenities include restaurants, entertainment venues, movie theatres, bowling and convention or banquet spaces, as well as traditional casino gaming offerings such as video poker, slot machines, table games, bingo and race and sports wagering.