27,687 Shares in Red Rock Resorts, Inc. $RRR Acquired by Capital Fund Management S.A.

Capital Fund Management S.A. acquired a new stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 27,687 shares of the company’s stock, valued at approximately $1,441,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Red Rock Resorts by 230.5% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552 shares of the company’s stock worth $29,000 after purchasing an additional 385 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in Red Rock Resorts in the 2nd quarter worth about $42,000. Pandora Wealth Inc. bought a new stake in Red Rock Resorts during the 1st quarter valued at about $43,000. US Bancorp DE boosted its position in Red Rock Resorts by 1,664.4% in the 1st quarter. US Bancorp DE now owns 1,041 shares of the company’s stock valued at $45,000 after buying an additional 982 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new stake in Red Rock Resorts in the 2nd quarter valued at about $62,000. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Price Performance

Shares of RRR stock opened at $56.33 on Friday. The stock’s 50-day moving average is $57.73 and its 200 day moving average is $56.34. Red Rock Resorts, Inc. has a 1-year low of $35.09 and a 1-year high of $63.60. The company has a debt-to-equity ratio of 10.11, a current ratio of 0.75 and a quick ratio of 0.70. The company has a market cap of $5.96 billion, a P/E ratio of 17.94, a PEG ratio of 2.05 and a beta of 1.52.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.36 by $0.32. Red Rock Resorts had a net margin of 9.52% and a return on equity of 59.86%. The business had revenue of $475.57 million during the quarter, compared to analyst estimates of $477.25 million. During the same period in the prior year, the firm posted $0.48 earnings per share. The company’s quarterly revenue was up 1.6% on a year-over-year basis. Research analysts predict that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current fiscal year.

Red Rock Resorts declared that its Board of Directors has initiated a share repurchase program on Tuesday, October 28th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 4.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Red Rock Resorts Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.8%. This is a positive change from Red Rock Resorts’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, December 15th. Red Rock Resorts’s payout ratio is 31.85%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Zacks Research downgraded shares of Red Rock Resorts from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Macquarie raised their price objective on Red Rock Resorts from $67.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Stifel Nicolaus set a $68.00 target price on Red Rock Resorts and gave the stock a “buy” rating in a report on Monday, November 3rd. Truist Financial increased their price target on Red Rock Resorts from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Finally, Citigroup assumed coverage on Red Rock Resorts in a report on Thursday, November 20th. They issued a “buy” rating and a $63.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Red Rock Resorts currently has an average rating of “Moderate Buy” and an average price target of $64.42.

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.