Arizona State Retirement System Has $740,000 Stock Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

Arizona State Retirement System reduced its position in Red Rock Resorts, Inc. (NASDAQ:RRR) by 1.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 13,875 shares of the company’s stock after selling 211 shares during the period. Arizona State Retirement System’s holdings in Red Rock Resorts were worth $740,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in shares of Red Rock Resorts in the first quarter valued at $30,000. Lazard Asset Management LLC acquired a new position in Red Rock Resorts in the 4th quarter valued at about $34,000. Tower Research Capital LLC TRC raised its holdings in Red Rock Resorts by 601.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,283 shares of the company’s stock valued at $57,000 after acquiring an additional 1,100 shares during the period. Quantbot Technologies LP acquired a new stake in Red Rock Resorts during the second quarter worth approximately $92,000. Finally, State of Wyoming bought a new stake in shares of Red Rock Resorts during the fourth quarter worth approximately $113,000. Institutional investors and hedge funds own 47.84% of the company’s stock.

Insider Buying and Selling

In other news, CFO Stephen Lawrence Cootey sold 7,520 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $57.74, for a total transaction of $434,204.80. Following the completion of the sale, the chief financial officer now owns 243,808 shares of the company’s stock, valued at approximately $14,077,473.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 54.20% of the stock is currently owned by insiders.

Red Rock Resorts Trading Down 1.4 %

Shares of NASDAQ RRR opened at $57.86 on Friday. The firm has a 50 day moving average price of $58.33 and a two-hundred day moving average price of $51.02. The stock has a market cap of $6.09 billion, a P/E ratio of 19.61, a price-to-earnings-growth ratio of 3.08 and a beta of 2.06. Red Rock Resorts, Inc. has a 52-week low of $37.82 and a 52-week high of $63.28. The company has a debt-to-equity ratio of 13.54, a quick ratio of 0.76 and a current ratio of 0.81.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.55. The company 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%. Red Rock Resorts’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.00 earnings per share. As a group, equities analysts forecast that Red Rock Resorts, Inc. will post 1.93 EPS for the current year.

Red Rock Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.73%. Red Rock Resorts’s payout ratio is 33.90%.

Analyst Ratings Changes

RRR has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Red Rock Resorts from $63.00 to $69.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. JMP Securities boosted their target price on shares of Red Rock Resorts from $55.00 to $61.00 and gave the company a “market outperform” rating in a research report on Thursday, February 8th. Mizuho initiated coverage on shares of Red Rock Resorts in a research note on Tuesday, March 26th. They issued a “buy” rating and a $69.00 price target on the stock. Macquarie upgraded shares of Red Rock Resorts from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $51.00 to $58.00 in a research note on Wednesday, January 17th. Finally, Wells Fargo & Company boosted their price objective on shares of Red Rock Resorts from $57.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.