Red Rock Resorts, Inc. (NASDAQ:RRR) Shares Sold by Cerity Partners LLC

Cerity Partners LLC trimmed its stake in Red Rock Resorts, Inc. (NASDAQ:RRR) by 0.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 73,074 shares of the company’s stock after selling 420 shares during the period. Cerity Partners LLC owned about 0.07% of Red Rock Resorts worth $3,169,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in RRR. Sterling Capital Management LLC lifted its stake 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 acquiring an additional 766 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Red Rock Resorts by 47.7% during the fourth 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 in the last quarter. KBC Group NV boosted its stake in shares of Red Rock Resorts by 44.6% in the first quarter. KBC Group NV now owns 2,887 shares of the company’s stock valued at $125,000 after purchasing an additional 891 shares during the period. Mayfair Advisory Group LLC grew its holdings in shares of Red Rock Resorts by 8.1% in the first quarter. Mayfair Advisory Group LLC now owns 4,861 shares of the company’s stock valued at $211,000 after purchasing an additional 364 shares in the last quarter. Finally, Cibc World Markets Corp purchased a new stake in Red Rock Resorts during the 4th quarter worth approximately $213,000. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Red Rock Resorts Price Performance

Shares of RRR opened at $54.88 on Friday. The company has a debt-to-equity ratio of 9.04, a current ratio of 0.92 and a quick ratio of 0.87. Red Rock Resorts, Inc. has a 1-year low of $35.09 and a 1-year high of $61.08. The stock has a market cap of $5.82 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 3.62 and a beta of 1.62. The firm has a fifty day moving average price of $50.75 and a 200 day moving average price of $47.27.

Red Rock Resorts (NASDAQ:RRR) last posted its 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. The business had revenue of $497.86 million during the quarter, compared to the consensus estimate of $499.12 million. Red Rock Resorts had a return on equity of 56.45% and a net margin of 8.01%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.68 EPS. As a group, sell-side analysts anticipate that Red Rock Resorts, Inc. will post 1.76 EPS for the current year.

Red Rock Resorts Announces Dividend

The company also recently disclosed an annual dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a $1.00 dividend. This represents a yield of 2.29%. The ex-dividend date was Monday, June 16th. Red Rock Resorts’s dividend payout ratio is currently 38.76%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RRR shares. Mizuho raised shares of Red Rock Resorts from a “neutral” rating to an “outperform” rating and set a $50.00 price target for the company in a research report on Monday, June 2nd. Stifel Nicolaus decreased their price objective on Red Rock Resorts from $54.00 to $44.00 and set a “hold” rating for the company in a research note on Friday, May 2nd. Citigroup reissued an “outperform” rating on shares of Red Rock Resorts in a research report on Friday. Susquehanna reduced their target price on shares of Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating on the stock in a report on Wednesday, April 16th. Finally, Truist Financial upgraded shares of Red Rock Resorts from a “hold” rating to a “buy” rating and raised their price objective for the company from $45.00 to $67.00 in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.45.

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.