Hsbc Holdings PLC Lowers Stock Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

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

A number of other hedge funds also recently bought and sold shares of RRR. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in shares of Red Rock Resorts in the first quarter valued at approximately $30,000. Quantbot Technologies LP purchased a new position in shares of Red Rock Resorts in the second quarter valued at approximately $92,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Red Rock Resorts in the second quarter valued at approximately $100,000. Great West Life Assurance Co. Can purchased a new position in shares of Red Rock Resorts in the third quarter valued at approximately $104,000. Finally, Creative Planning lifted its position in shares of Red Rock Resorts by 5.3% in the second quarter. Creative Planning now owns 6,048 shares of the company’s stock valued at $202,000 after acquiring an additional 305 shares in the last quarter. Hedge funds and other institutional investors own 52.45% of the company’s stock.

Red Rock Resorts Trading Up 0.8 %

Shares of NASDAQ RRR opened at $44.01 on Wednesday. Red Rock Resorts, Inc. has a twelve month low of $30.98 and a twelve month high of $50.55. The company has a current ratio of 0.75, a quick ratio of 0.71 and a debt-to-equity ratio of 91.76. The stock has a fifty day simple moving average of $44.35 and a 200-day simple moving average of $41.65. The stock has a market capitalization of $4.58 billion, a PE ratio of 13.14, a PEG ratio of 20.77 and a beta of 2.19.

Red Rock Resorts Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages recently commented on RRR. JPMorgan Chase & Co. lifted their price objective on Red Rock Resorts from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 8th. Truist Financial lifted their price objective on Red Rock Resorts from $45.00 to $49.00 in a research report on Wednesday, February 8th. StockNews.com upgraded Red Rock Resorts from a “hold” rating to a “buy” rating in a research report on Thursday, February 9th. JMP Securities lifted their price objective on Red Rock Resorts from $50.00 to $51.00 and gave the stock a “market outperform” rating in a research report on Friday, January 20th. Finally, Wells Fargo & Company lifted their price objective on Red Rock Resorts from $48.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 8th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $48.58.

Red Rock Resorts 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.