Principal Financial Group Inc. Has $740,000 Stock Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

Principal Financial Group Inc. lowered its stake in Red Rock Resorts, Inc. (NASDAQ:RRRFree Report) by 25.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 12,377 shares of the company’s stock after selling 4,224 shares during the period. Principal Financial Group Inc.’s holdings in Red Rock Resorts were worth $740,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Virtu Financial LLC acquired a new position in Red Rock Resorts in the 4th quarter valued at about $212,000. Core Wealth Partners LLC bought a new stake in Red Rock Resorts in the 4th quarter valued at about $213,000. Valeo Financial Advisors LLC bought a new stake in Red Rock Resorts in the 4th quarter valued at about $255,000. VELA Investment Management LLC bought a new stake in Red Rock Resorts in the 4th quarter valued at about $256,000. Finally, Institute for Wealth Management LLC. boosted its holdings in Red Rock Resorts by 4.2% in the 4th quarter. Institute for Wealth Management LLC. now owns 7,557 shares of the company’s stock valued at $403,000 after purchasing an additional 308 shares during the period. Institutional investors and hedge funds own 47.84% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Red Rock Resorts from $63.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Mizuho cut their price target on shares of Red Rock Resorts from $69.00 to $66.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Stifel Nicolaus cut their price target on shares of Red Rock Resorts from $61.00 to $59.00 and set a “hold” rating for the company in a report on Wednesday, May 8th. Morgan Stanley increased their price objective on shares of Red Rock Resorts from $51.00 to $53.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Wells Fargo & Company dropped their price objective on shares of Red Rock Resorts from $66.00 to $63.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Red Rock Resorts currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.58.

View Our Latest Analysis on RRR

Insider Buying and Selling at Red Rock Resorts

In other Red Rock Resorts news, Vice President Lorenzo J. Fertitta acquired 800,000 shares of Red Rock Resorts stock in a transaction dated Monday, May 13th. The stock was purchased at an average cost of $50.39 per share, for a total transaction of $40,312,000.00. Following the completion of the acquisition, the insider now directly owns 47,447,301 shares of the company’s stock, valued at $2,390,869,497.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 53.28% of the company’s stock.

Red Rock Resorts Trading Up 0.1 %

RRR opened at $54.27 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.90 and a debt-to-equity ratio of 18.49. The stock has a market cap of $5.73 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 2.59 and a beta of 2.04. The company has a fifty day moving average of $51.89 and a 200-day moving average of $54.67. Red Rock Resorts, Inc. has a twelve month low of $37.82 and a twelve month high of $63.28.

Red Rock Resorts (NASDAQ:RRRGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.18. Red Rock Resorts had a net margin of 9.79% and a return on equity of 98.44%. The firm had revenue of $488.90 million during the quarter, compared to the consensus estimate of $490.49 million. During the same period in the previous year, the firm posted $0.75 earnings per share. The business’s revenue was up 12.7% compared to the same quarter last year. On average, sell-side analysts predict that Red Rock Resorts, Inc. will post 1.82 EPS for the current year.

Red Rock Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.84%. The ex-dividend date was Friday, June 14th. Red Rock Resorts’s dividend payout ratio (DPR) is currently 34.72%.

Red Rock Resorts Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Red Rock Resorts (NASDAQ:RRR)

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