Teacher Retirement System of Texas Takes Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

Teacher Retirement System of Texas purchased a new stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 7,411 shares of the company’s stock, valued at approximately $321,000.

A number of other large investors have also recently modified their holdings of RRR. Bamco Inc. NY raised its holdings in shares of Red Rock Resorts by 6.9% during the 4th quarter. Bamco Inc. NY now owns 11,356,201 shares of the company’s stock valued at $525,111,000 after buying an additional 732,917 shares in the last quarter. Vanguard Group Inc. increased its stake in Red Rock Resorts by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 5,181,146 shares of the company’s stock worth $239,576,000 after purchasing an additional 50,193 shares during the period. Eminence Capital LP increased its stake in Red Rock Resorts by 36.1% in the 4th 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. Vaughan Nelson Investment Management L.P. increased its stake in Red Rock Resorts by 19.2% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,602,368 shares of the company’s stock worth $69,494,000 after purchasing an additional 258,310 shares during the period. Finally, Long Pond Capital LP increased its stake 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. Institutional investors own 47.84% of the company’s stock.

Analyst Upgrades and Downgrades

RRR has been the topic of a number of analyst reports. Susquehanna decreased their price target on Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating on the stock in a research note on Wednesday, April 16th. Citigroup reissued an “outperform” rating on shares of Red Rock Resorts in a research note on Friday. JMP Securities boosted their target price on Red Rock Resorts from $55.00 to $57.00 and gave the company a “market outperform” rating in a research note on Friday. JPMorgan Chase & Co. initiated coverage on Red Rock Resorts in a research note on Monday, June 23rd. They set an “overweight” rating and a $62.00 target price on the stock. Finally, Morgan Stanley set a $49.00 target price on Red Rock Resorts and gave the company an “equal weight” rating in a research note on Friday, July 11th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.45.

Red Rock Resorts Trading Down 0.9%

Shares of NASDAQ:RRR opened at $54.88 on Friday. The company has a market cap of $5.82 billion, a P/E ratio of 21.27, a PEG ratio of 3.62 and a beta of 1.62. 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’s fifty day moving average price is $50.75 and its 200-day moving average price is $47.27.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.33. The firm had revenue of $497.86 million for 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 company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.68 earnings per share. Sell-side analysts expect that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The company also recently disclosed an annual dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a dividend of $1.00 per share. This represents a yield of 2.29%. The ex-dividend date was Monday, June 16th. 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.