Level Four Advisory Services LLC purchased a new stake in Red Rock Resorts, Inc. (NASDAQ:RRR – Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,639 shares of the company’s stock, valued at approximately $385,000.
A number of other institutional investors and hedge funds have also bought and sold shares of RRR. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in shares of Red Rock Resorts during the 1st quarter valued at $30,000. Sandy Spring Bank purchased a new stake in Red Rock Resorts during the first quarter worth about $32,000. Lazard Asset Management LLC purchased a new stake in Red Rock Resorts during the fourth quarter worth about $34,000. Clearstead Advisors LLC purchased a new stake in Red Rock Resorts during the first quarter worth about $57,000. Finally, Tower Research Capital LLC TRC increased its holdings in Red Rock Resorts by 601.1% during the first quarter. Tower Research Capital LLC TRC now owns 1,283 shares of the company’s stock worth $57,000 after buying an additional 1,100 shares during the last quarter. 51.21% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on RRR shares. StockNews.com assumed coverage on shares of Red Rock Resorts in a report on Sunday, August 20th. They set a “hold” rating for the company. Wells Fargo & Company decreased their target price on Red Rock Resorts from $55.00 to $53.00 and set an “overweight” rating for the company in a research report on Friday, August 4th. SpectralCast reissued a “reiterates” rating on shares of Red Rock Resorts in a research report on Tuesday, June 27th. Susquehanna assumed coverage on Red Rock Resorts in a research report on Monday, September 11th. They issued a “positive” rating and a $52.00 target price for the company. Finally, Morgan Stanley reduced their target price on shares of Red Rock Resorts from $54.00 to $53.00 and set an “overweight” rating for the company in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.
Red Rock Resorts Price Performance
NASDAQ RRR opened at $44.01 on Tuesday. Red Rock Resorts, Inc. has a 52 week low of $33.62 and a 52 week high of $51.35. The firm has a market capitalization of $4.59 billion, a P/E ratio of 11.83, a PEG ratio of 11.41 and a beta of 2.16. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 26.38. The company has a 50-day moving average price of $45.72 and a 200-day moving average price of $45.69.
Red Rock Resorts (NASDAQ:RRR – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.44 by $0.21. The firm had revenue of $416.13 million during the quarter, compared to analyst estimates of $419.60 million. Red Rock Resorts had a net margin of 13.35% and a return on equity of 276.42%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.27 EPS. Equities research analysts anticipate that Red Rock Resorts, Inc. will post 1.66 earnings per share for the current year.
Red Rock Resorts Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.00 annualized dividend and a dividend yield of 2.27%. Red Rock Resorts’s dividend payout ratio (DPR) is 26.88%.
Red Rock Resorts Profile
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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