Red Rock Resorts, Inc. (NASDAQ:RRR) Position Boosted by Eminence Capital LP

Eminence Capital LP lifted its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 23.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,952,754 shares of the company’s stock after purchasing an additional 374,128 shares during the period. Eminence Capital LP owned about 1.85% of Red Rock Resorts worth $107,265,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Covestor Ltd lifted its holdings in Red Rock Resorts by 16,666.7% in the first quarter. Covestor Ltd now owns 503 shares of the company’s stock worth $30,000 after acquiring an additional 500 shares during the last quarter. Headlands Technologies LLC bought a new position in Red Rock Resorts in the first quarter worth about $78,000. Point72 DIFC Ltd bought a new position in Red Rock Resorts in the second quarter worth about $98,000. nVerses Capital LLC bought a new position in Red Rock Resorts in the second quarter worth about $154,000. Finally, Virtu Financial LLC bought a new position in Red Rock Resorts in the fourth quarter worth about $212,000. Institutional investors own 47.84% of the company’s stock.

Insiders Place Their Bets

In other Red Rock Resorts news, VP Lorenzo J. Fertitta purchased 33,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $49.77 per share, for a total transaction of $1,642,410.00. Following the completion of the transaction, the vice president now owns 47,546,301 shares in the company, valued at approximately $2,366,379,400.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Kord Nichols sold 49,464 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $58.00, for a total value of $2,868,912.00. Following the completion of the transaction, the chief operating officer now owns 71,946 shares of the company’s stock, valued at approximately $4,172,868. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Lorenzo J. Fertitta acquired 33,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $49.77 per share, with a total value of $1,642,410.00. Following the purchase, the vice president now directly owns 47,546,301 shares in the company, valued at approximately $2,366,379,400.77. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 200,000 shares of company stock worth $10,426,000. 53.28% of the stock is owned by insiders.

Red Rock Resorts Price Performance

NASDAQ RRR opened at $53.80 on Thursday. Red Rock Resorts, Inc. has a 12 month low of $37.82 and a 12 month high of $63.28. The company has a debt-to-equity ratio of 15.15, a current ratio of 0.94 and a quick ratio of 0.89. The firm has a market capitalization of $5.68 billion, a PE ratio of 18.68, a P/E/G ratio of 5.32 and a beta of 2.04. The company’s 50 day simple moving average is $55.49 and its 200 day simple moving average is $55.18.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.16. The business had revenue of $486.40 million for the quarter, compared to analyst estimates of $475.80 million. Red Rock Resorts had a net margin of 9.21% and a return on equity of 83.84%. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same quarter last year, the business earned $0.65 earnings per share. As a group, equities research analysts forecast that Red Rock Resorts, Inc. will post 1.66 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.00 annualized dividend and a yield of 1.86%. Red Rock Resorts’s dividend payout ratio (DPR) is 34.72%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Red Rock Resorts from $62.00 to $69.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Barclays lifted their price target on Red Rock Resorts from $63.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Stifel Nicolaus lifted their price target on Red Rock Resorts from $59.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Macquarie lifted their price target on Red Rock Resorts from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley lifted their price target on Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Wednesday, September 4th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Red Rock Resorts presently has an average rating of “Moderate Buy” and a consensus price target of $63.50.

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.