Deutsche Bank AG Sells 4,496 Shares of Red Rock Resorts, Inc. $RRR

Deutsche Bank AG lessened its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 10.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,292 shares of the company’s stock after selling 4,496 shares during the quarter. Deutsche Bank AG’s holdings in Red Rock Resorts were worth $1,617,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of RRR. Wells Fargo & Company MN raised its stake in shares of Red Rock Resorts by 16.2% during the 4th quarter. Wells Fargo & Company MN now owns 34,520 shares of the company’s stock worth $1,596,000 after acquiring an additional 4,822 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Red Rock Resorts by 250.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 14,437 shares of the company’s stock worth $668,000 after acquiring an additional 10,312 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Red Rock Resorts during the 4th quarter worth approximately $292,000. Sterling Capital Management LLC raised its stake in shares of 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. Finally, Barclays PLC raised its stake in shares of Red Rock Resorts by 15.2% during the 4th quarter. Barclays PLC now owns 90,909 shares of the company’s stock worth $4,204,000 after acquiring an additional 11,977 shares in the last quarter. Institutional investors own 47.84% of the company’s stock.

Insider Activity

In other news, EVP Jeffrey T. Welch sold 56,653 shares of the company’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $60.23, for a total value of $3,412,210.19. Following the sale, the executive vice president directly owned 314,767 shares of the company’s stock, valued at $18,958,416.41. This represents a 15.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stephen Lawrence Cootey sold 121,400 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $60.04, for a total transaction of $7,288,856.00. Following the sale, the chief financial officer directly owned 260,268 shares in the company, valued at $15,626,490.72. This trade represents a 31.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 225,628 shares of company stock valued at $13,501,984 in the last ninety days. Insiders own 53.81% of the company’s stock.

Analyst Upgrades and Downgrades

RRR has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of Red Rock Resorts from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Morgan Stanley upped their price target on shares of Red Rock Resorts from $49.00 to $53.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Susquehanna restated a “positive” rating and set a $68.00 price target (up previously from $65.00) on shares of Red Rock Resorts in a research note on Wednesday, July 30th. Stifel Nicolaus set a $60.00 price target on shares of Red Rock Resorts and gave the company a “hold” rating in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Red Rock Resorts in a research note on Monday, June 23rd. They set an “overweight” rating and a $62.00 price target on the stock. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.73.

Red Rock Resorts Stock Up 2.7%

RRR stock opened at $61.44 on Friday. The firm’s fifty day simple moving average is $55.70 and its 200-day simple moving average is $49.25. The company has a market capitalization of $6.48 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 2.41 and a beta of 1.66. The company has a debt-to-equity ratio of 11.28, a current ratio of 0.89 and a quick ratio of 0.84. Red Rock Resorts, Inc. has a 12 month low of $35.09 and a 12 month high of $62.00.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.40 by $0.55. The business had revenue of $526.27 million for the quarter, compared to the consensus estimate of $485.44 million. Red Rock Resorts had a net margin of 8.89% and a return on equity of 59.97%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 EPS. As a group, equities research analysts forecast that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, September 15th. Red Rock Resorts’s dividend payout ratio is 34.01%.

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.