Red Rock Resorts, Inc. (NASDAQ:RRR) Shares Purchased by Avior Wealth Management LLC

Avior Wealth Management LLC boosted its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR) by 4.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,941 shares of the company’s stock after buying an additional 408 shares during the period. Avior Wealth Management LLC’s holdings in Red Rock Resorts were worth $530,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in RRR. Bamco Inc. NY raised its position in shares of Red Rock Resorts by 10.8% in the 3rd quarter. Bamco Inc. NY now owns 9,856,963 shares of the company’s stock worth $404,135,000 after buying an additional 962,841 shares during the period. FMR LLC raised its holdings in shares of Red Rock Resorts by 46.4% in the 3rd quarter. FMR LLC now owns 5,249,335 shares of the company’s stock worth $215,223,000 after purchasing an additional 1,663,839 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in shares of Red Rock Resorts by 1.9% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,827,336 shares of the company’s stock valued at $197,921,000 after purchasing an additional 91,798 shares in the last quarter. Eminence Capital LP grew its holdings in shares of Red Rock Resorts by 6.0% during the 3rd quarter. Eminence Capital LP now owns 1,959,685 shares of the company’s stock worth $80,347,000 after purchasing an additional 111,651 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Red Rock Resorts by 2.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,493,068 shares of the company’s stock worth $49,809,000 after purchasing an additional 28,665 shares in the last quarter. 47.84% of the stock is owned by institutional investors and hedge funds.

Red Rock Resorts Trading Down 1.4 %

NASDAQ RRR opened at $57.86 on Friday. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of 19.61, a price-to-earnings-growth ratio of 3.02 and a beta of 2.06. The company has a debt-to-equity ratio of 13.54, a current ratio of 0.81 and a quick ratio of 0.76. Red Rock Resorts, Inc. has a 12 month low of $37.82 and a 12 month high of $63.28. The company’s fifty day moving average price is $58.33 and its two-hundred day moving average price is $51.02.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.40 by $0.55. The business had revenue of $462.71 million for the quarter, compared to analysts’ expectations of $440.75 million. Red Rock Resorts had a net margin of 10.21% and a return on equity of 114.32%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.00 earnings per share. As a group, research analysts predict that Red Rock Resorts, Inc. will post 1.93 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.73%. Red Rock Resorts’s dividend payout ratio (DPR) is 33.90%.

Insider Activity at Red Rock Resorts

In other Red Rock Resorts news, CFO Stephen Lawrence Cootey sold 7,520 shares of Red Rock Resorts stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $57.74, for a total value of $434,204.80. Following the completion of the transaction, the chief financial officer now owns 243,808 shares of the company’s stock, valued at $14,077,473.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 54.20% of the company’s stock.

Analyst Ratings Changes

RRR has been the subject of several research reports. Mizuho assumed coverage on shares of Red Rock Resorts in a research note on Tuesday, March 26th. They set a “buy” rating and a $69.00 price objective for the company. Stifel Nicolaus upped their price target on shares of Red Rock Resorts from $47.00 to $54.00 and gave the stock a “hold” rating in a research report on Thursday, December 21st. Bank of America raised their price objective on Red Rock Resorts from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Barclays upped their target price on Red Rock Resorts from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. raised their target price on Red Rock Resorts from $63.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.67.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc, through its interest in Station Casinos LLC, develops and operates casino and entertainment properties in the United States. The company owns and operates gaming and entertainment facilities, including Durango Casino & Resort and smaller casinos in the Las Vegas regional market.