Red Rock Resorts, Inc. (NASDAQ:RRR) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 101,576 shares of the company’s stock after selling 6,774 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.10% of Red Rock Resorts worth $4,697,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RRR. Barclays PLC boosted its position in Red Rock Resorts by 227.9% during the third quarter. Barclays PLC now owns 78,932 shares of the company’s stock worth $4,297,000 after purchasing an additional 54,863 shares in the last quarter. KBC Group NV grew its stake in Red Rock Resorts by 37.1% in the 4th quarter. KBC Group NV now owns 1,996 shares of the company’s stock valued at $92,000 after acquiring an additional 540 shares during the last quarter. Entropy Technologies LP purchased a new position in Red Rock Resorts during the 4th quarter valued at about $366,000. Vaughan Nelson Investment Management L.P. raised its position in Red Rock Resorts by 20.6% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,344,058 shares of the company’s stock worth $62,149,000 after acquiring an additional 229,843 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its holdings in shares of Red Rock Resorts by 19.7% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 42,390 shares of the company’s stock valued at $1,960,000 after purchasing an additional 6,969 shares in the last quarter. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on RRR shares. Morgan Stanley lowered their target price on Red Rock Resorts from $45.00 to $43.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Mizuho raised Red Rock Resorts from a “neutral” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research note on Monday. Stifel Nicolaus dropped their price objective on Red Rock Resorts from $54.00 to $44.00 and set a “hold” rating for the company in a research report on Friday, May 2nd. Susquehanna decreased their price target on shares of Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating on the stock in a research note on Wednesday, April 16th. Finally, Truist Financial lowered their price target on shares of Red Rock Resorts from $56.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.64.

Red Rock Resorts Stock Down 0.6%

Shares of Red Rock Resorts stock opened at $49.09 on Wednesday. The stock has a market cap of $5.21 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 4.32 and a beta of 1.64. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. Red Rock Resorts, Inc. has a twelve month low of $35.09 and a twelve month high of $61.73. The company has a fifty day moving average price of $43.68 and a 200 day moving average price of $46.41.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.33. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. The company had revenue of $497.86 million during the quarter, compared to analysts’ expectations of $499.12 million. During the same period in the prior year, the company posted $0.68 EPS. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities research analysts forecast that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The business also recently announced an annual dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a $1.00 dividend. This represents a dividend yield of 2.29%. The ex-dividend date of this dividend is Monday, June 16th. Red Rock Resorts’s payout ratio is currently 38.76%.

About Red Rock Resorts

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.