Russell Investments Group Ltd. Has $1.11 Million Stock Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

Posted by Defense World Staff on May 26th, 2023

Russell Investments Group Ltd. cut its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR – Get Rating) by 7.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,641 shares of the company’s stock after selling 2,361 shares during the period. Russell Investments Group Ltd.’s holdings in Red Rock Resorts were worth $1,106,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RRR. Capital Research Global Investors acquired a new position in shares of Red Rock Resorts during the first quarter valued at about $23,794,000. Goldman Sachs Group Inc. raised its position in Red Rock Resorts by 29.9% in the second quarter. Goldman Sachs Group Inc. now owns 1,361,285 shares of the company’s stock worth $45,412,000 after purchasing an additional 313,446 shares in the last quarter. JPMorgan Chase & Co. raised its position in Red Rock Resorts by 463.8% in the first quarter. JPMorgan Chase & Co. now owns 304,173 shares of the company’s stock worth $14,771,000 after purchasing an additional 250,227 shares in the last quarter. Millennium Management LLC raised its position in Red Rock Resorts by 210.9% in the second quarter. Millennium Management LLC now owns 349,558 shares of the company’s stock worth $11,661,000 after purchasing an additional 237,128 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Red Rock Resorts by 203.4% in the third quarter. Renaissance Technologies LLC now owns 328,600 shares of the company’s stock worth $11,258,000 after purchasing an additional 220,300 shares in the last quarter. 52.45% of the stock is currently owned by institutional investors.

Red Rock Resorts Stock Performance

Shares of RRR opened at $45.64 on Friday. The company has a market cap of $4.76 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 6.82 and a beta of 2.17. The company has a debt-to-equity ratio of 32.33, a current ratio of 0.65 and a quick ratio of 0.61. The firm has a 50-day moving average of $45.30 and a 200-day moving average of $44.24. Red Rock Resorts, Inc. has a one year low of $30.98 and a one year high of $49.81.

Red Rock Resorts (NASDAQ:RRR – Get Rating) last issued its earnings results on Thursday, May 4th. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.47 by $0.28. The company had revenue of $433.64 million during the quarter, compared to analysts’ expectations of $413.05 million. Red Rock Resorts had a net margin of 11.90% and a return on equity of 808.22%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.77 EPS. As a group, equities analysts forecast that Red Rock Resorts, Inc. will post 1.8 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Wednesday, June 14th. Red Rock Resorts’s dividend payout ratio (DPR) is currently 30.03%.

Analysts Set New Price Targets

Several research firms have recently weighed in on RRR. StockNews.com began coverage on shares of Red Rock Resorts in a report on Thursday, May 18th. They set a “buy” rating for the company. TheStreet raised shares of Red Rock Resorts from a “c” rating to a “b-” rating in a research note on Tuesday, February 28th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Red Rock Resorts from $53.00 to $55.00 in a research note on Friday, May 5th. JPMorgan Chase & Co. raised their price objective on shares of Red Rock Resorts from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, February 8th. Finally, JMP Securities lifted their price target on shares of Red Rock Resorts from $51.00 to $54.00 in a research report on Friday, May 5th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Red Rock Resorts presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.09.

Red Rock Resorts Company Profile

(Get Rating)

Red Rock Resorts, Inc is a holding company, which engages 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.