Bank of New York Mellon Corp Sells 9,091 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Bank of New York Mellon Corp trimmed its position in Red Rock Resorts, Inc. (NASDAQ:RRR) by 2.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 388,680 shares of the company’s stock after selling 9,091 shares during the period. Bank of New York Mellon Corp owned 0.37% of Red Rock Resorts worth $16,857,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of RRR. Long Pond Capital LP raised its position in Red Rock Resorts by 142.5% in the 4th quarter. Long Pond Capital LP now owns 1,474,153 shares of the company’s stock worth $68,165,000 after purchasing an additional 866,320 shares during the period. Bamco Inc. NY boosted its holdings in shares of Red Rock Resorts by 6.9% during the fourth quarter. Bamco Inc. NY now owns 11,356,201 shares of the company’s stock worth $525,111,000 after purchasing an additional 732,917 shares during the period. Eminence Capital LP boosted its holdings in shares of Red Rock Resorts by 36.1% during the fourth quarter. Eminence Capital LP now owns 2,056,588 shares of the company’s stock worth $95,097,000 after purchasing an additional 546,047 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Red Rock Resorts by 167.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 422,447 shares of the company’s stock worth $19,534,000 after purchasing an additional 264,609 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in shares of Red Rock Resorts by 19.2% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,602,368 shares of the company’s stock valued at $69,494,000 after purchasing an additional 258,310 shares in the last quarter. 47.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on RRR. Citigroup reissued an “outperform” rating on shares of Red Rock Resorts in a research note on Friday. Stifel Nicolaus decreased their target price on shares of Red Rock Resorts from $54.00 to $44.00 and set a “hold” rating for the company in a report on Friday, May 2nd. Susquehanna decreased their target price on shares of Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating for the company in a report on Wednesday, April 16th. Mizuho raised shares of Red Rock Resorts from a “neutral” rating to an “outperform” rating and set a $50.00 target price for the company in a report on Monday, June 2nd. Finally, Barclays lifted their target price on shares of Red Rock Resorts from $54.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.45.

Red Rock Resorts Price Performance

Red Rock Resorts stock opened at $54.88 on Friday. Red Rock Resorts, Inc. has a 52-week low of $35.09 and a 52-week high of $61.08. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 3.62 and a beta of 1.62. The company has a fifty day simple moving average of $50.75 and a 200-day simple moving average of $47.27. The company has a quick ratio of 0.87, a current ratio of 0.92 and a debt-to-equity ratio of 9.04.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.80 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $499.12 million. During the same quarter in the previous year, the company posted $0.68 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. On average, equities analysts anticipate that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The firm also recently declared an annual dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a dividend of $1.00 per share. The ex-dividend date was Monday, June 16th. This represents a yield of 2.29%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 38.76%.

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.