Jump Financial LLC Acquires 4,146 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Jump Financial LLC lifted its position in Red Rock Resorts, Inc. (NASDAQ:RRRFree Report) by 59.0% during the third quarter, HoldingsChannel.com reports. The fund owned 11,173 shares of the company’s stock after purchasing an additional 4,146 shares during the period. Jump Financial LLC’s holdings in Red Rock Resorts were worth $458,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in shares of Red Rock Resorts during the 1st quarter worth approximately $30,000. Lazard Asset Management LLC bought a new position in shares of Red Rock Resorts during the 4th quarter worth approximately $34,000. Spotlight Asset Group Inc. bought a new position in shares of Red Rock Resorts during the 2nd quarter worth approximately $47,000. Tower Research Capital LLC TRC grew its stake in shares of Red Rock Resorts by 601.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,283 shares of the company’s stock worth $57,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Red Rock Resorts during the 2nd quarter worth approximately $92,000. 51.21% of the stock is currently owned by institutional investors and hedge funds.

Red Rock Resorts Trading Up 1.6 %

Shares of Red Rock Resorts stock opened at $58.86 on Friday. The business has a fifty day simple moving average of $51.81 and a two-hundred day simple moving average of $46.16. Red Rock Resorts, Inc. has a 1 year low of $37.82 and a 1 year high of $59.31. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 19.95, a P/E/G ratio of 23.64 and a beta of 2.07. The company has a debt-to-equity ratio of 20.81, a current ratio of 0.80 and a quick ratio of 0.76.

Red Rock Resorts (NASDAQ:RRRGet Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.55. Red Rock Resorts had a return on equity of 141.95% and a net margin of 10.21%. The business had revenue of $462.71 million during the quarter, compared to the consensus estimate of $440.75 million. During the same quarter last year, the firm posted $1.00 EPS. The company’s quarterly revenue was up 8.8% on a year-over-year basis. Research analysts forecast that Red Rock Resorts, Inc. will post 1.86 EPS for the current year.

Red Rock Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 4th. Stockholders of record on Thursday, February 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Wednesday, February 21st. Red Rock Resorts’s dividend payout ratio is currently 33.90%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RRR. JMP Securities raised their price target on shares of Red Rock Resorts from $55.00 to $61.00 and gave the stock a “market outperform” rating in a research note on Thursday. Morgan Stanley reissued an “equal weight” rating and issued a $48.00 price objective (down previously from $49.00) on shares of Red Rock Resorts in a report on Tuesday, January 9th. JPMorgan Chase & Co. increased their price objective on Red Rock Resorts from $53.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday. Barclays increased their price objective on Red Rock Resorts from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Wells Fargo & Company increased their price objective on Red Rock Resorts from $57.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Red Rock Resorts has an average rating of “Moderate Buy” and an average target price of $59.10.

View Our Latest Stock Analysis on Red Rock Resorts

Red Rock Resorts Profile

(Free Report)

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 6 gaming and entertainment facilities, and 9 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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