BNP Paribas Financial Markets Has $1.57 Million Stake in Red Rock Resorts, Inc. (NASDAQ:RRR)

BNP Paribas Financial Markets lifted its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 121.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,039 shares of the company’s stock after acquiring an additional 18,665 shares during the quarter. BNP Paribas Financial Markets’ holdings in Red Rock Resorts were worth $1,574,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Sterling Capital Management LLC raised its position in Red Rock Resorts by 654.7% during the 4th quarter. Sterling Capital Management LLC now owns 883 shares of the company’s stock worth $41,000 after purchasing an additional 766 shares during the last quarter. KBC Group NV raised its position in Red Rock Resorts by 37.1% during the 4th quarter. KBC Group NV now owns 1,996 shares of the company’s stock worth $92,000 after purchasing an additional 540 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Red Rock Resorts by 47.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company’s stock worth $95,000 after purchasing an additional 664 shares during the last quarter. Cibc World Markets Corp bought a new position in Red Rock Resorts during the 4th quarter worth $213,000. Finally, Jump Financial LLC bought a new position in Red Rock Resorts during the 4th quarter worth $253,000. Institutional investors and hedge funds own 47.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. JMP Securities lowered their price objective on Red Rock Resorts from $59.00 to $55.00 and set a “market outperform” rating for the company in a research report on Thursday, April 17th. Susquehanna lowered their price objective on Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating for the company in a research report on Wednesday, April 16th. Truist Financial lowered their price objective on Red Rock Resorts from $56.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. Macquarie reissued an “outperform” rating and issued a $58.00 price objective on shares of Red Rock Resorts in a research report on Friday, May 2nd. Finally, Morgan Stanley lowered their price objective on Red Rock Resorts from $45.00 to $43.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $52.64.

Red Rock Resorts Stock Performance

Shares of Red Rock Resorts stock opened at $47.10 on Monday. Red Rock Resorts, Inc. has a one year low of $35.09 and a one year high of $61.73. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 4.32 and a beta of 1.64. The business has a 50-day simple moving average of $42.92 and a 200 day simple moving average of $46.77. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96.

Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Thursday, May 1st. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.33. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. The business had revenue of $497.86 million during the quarter, compared to analyst estimates of $499.12 million. During the same period in the previous year, the company posted $0.68 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. On average, research analysts anticipate that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The company also recently announced an annual dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $1.00 dividend. This represents a yield of 2.29%. The ex-dividend date is Monday, June 16th. Red Rock Resorts’s payout ratio is 38.76%.

Red Rock Resorts 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.