SG Americas Securities LLC Purchases New Shares in Red Rock Resorts, Inc. (NASDAQ:RRR)

SG Americas Securities LLC bought a new stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 17,294 shares of the company’s stock, valued at approximately $750,000.

A number of other institutional investors have also recently modified their holdings of RRR. OFI Invest Asset Management acquired a new position in Red Rock Resorts in the 4th quarter worth about $2,054,000. Ring Mountain Capital LLC bought a new position in shares of Red Rock Resorts in the fourth quarter valued at approximately $487,000. Bank of New York Mellon Corp lifted its holdings in shares of Red Rock Resorts by 8.7% in the fourth quarter. Bank of New York Mellon Corp now owns 397,771 shares of the company’s stock valued at $18,393,000 after purchasing an additional 31,858 shares in the last quarter. Deutsche Bank AG increased its position in shares of Red Rock Resorts by 47.4% during the fourth quarter. Deutsche Bank AG now owns 41,788 shares of the company’s stock valued at $1,932,000 after acquiring an additional 13,441 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Red Rock Resorts by 7.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 621,151 shares of the company’s stock valued at $28,722,000 after acquiring an additional 44,043 shares during the last quarter. 47.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Morgan Stanley decreased their target price 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. Macquarie reaffirmed an “outperform” rating and set a $58.00 price target on shares of Red Rock Resorts in a research note on Friday, May 2nd. Susquehanna lowered their target price on Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating for the company in a research note on Wednesday, April 16th. JMP Securities reduced their price target on Red Rock Resorts from $59.00 to $55.00 and set a “market outperform” rating on the stock in a report on Thursday, April 17th. Finally, Barclays reduced their target price on Red Rock Resorts from $58.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.64.

Red Rock Resorts Price Performance

NASDAQ:RRR opened at $50.23 on Friday. Red Rock Resorts, Inc. has a one year low of $35.09 and a one year high of $61.73. The company has a debt-to-equity ratio of 9.04, a quick ratio of 0.87 and a current ratio of 0.92. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 5.33 and a beta of 1.61. The firm’s fifty day moving average is $46.01 and its two-hundred day moving average is $46.38.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.33. Red Rock Resorts had a net margin of 8.01% and a return on equity of 56.45%. The firm had revenue of $497.86 million during the quarter, compared to the consensus estimate of $499.12 million. During the same quarter in the prior year, the firm earned $0.68 EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. Research analysts expect that Red Rock Resorts, Inc. will post 1.76 EPS for the current year.

Red Rock Resorts Dividend Announcement

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