Citigroup Inc. Sells 25,504 Shares of Red Rock Resorts, Inc. $RRR

Citigroup Inc. decreased its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 31.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,398 shares of the company’s stock after selling 25,504 shares during the quarter. Citigroup Inc. owned about 0.05% of Red Rock Resorts worth $3,444,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Red Rock Resorts by 230.5% in the 2nd 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. Strs Ohio bought a new stake in Red Rock Resorts during the 3rd quarter valued at about $37,000. Atlantic Union Bankshares Corp purchased a new position in Red Rock Resorts in the second quarter worth about $62,000. Canada Pension Plan Investment Board bought a new position in shares of Red Rock Resorts in the second quarter worth approximately $94,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Red Rock Resorts by 1,385.7% during the second quarter. Russell Investments Group Ltd. now owns 1,872 shares of the company’s stock valued at $97,000 after buying an additional 1,746 shares during the last quarter. 47.84% of the stock is owned by hedge funds and other institutional investors.

Red Rock Resorts Trading Down 0.3%

Shares of Red Rock Resorts stock opened at $59.80 on Friday. Red Rock Resorts, Inc. has a 1-year low of $35.09 and a 1-year high of $68.99. The company’s fifty day simple moving average is $62.52 and its 200-day simple moving average is $60.43. The company has a debt-to-equity ratio of 10.26, a current ratio of 0.79 and a quick ratio of 0.74. The stock has a market capitalization of $6.28 billion, a PE ratio of 19.11, a P/E/G ratio of 2.49 and a beta of 1.46.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings data on Tuesday, February 10th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.41 by $0.34. The firm had revenue of $511.78 million during the quarter, compared to analyst estimates of $500.90 million. Red Rock Resorts had a return on equity of 58.13% and a net margin of 9.35%.Red Rock Resorts’s revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.76 EPS. As a group, equities analysts anticipate that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.04 annualized dividend and a dividend yield of 1.7%. Red Rock Resorts’s dividend payout ratio (DPR) is 33.23%.

Wall Street Analyst Weigh In

RRR has been the subject of a number of recent analyst reports. Truist Financial restated a “buy” rating and issued a $80.00 price objective (up from $75.00) on shares of Red Rock Resorts in a report on Wednesday, February 11th. Barclays upped their price target on Red Rock Resorts from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Stifel Nicolaus boosted their target price on Red Rock Resorts from $71.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Mizuho set a $77.00 target price on shares of Red Rock Resorts in a research note on Wednesday, February 11th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $79.00 price target on shares of Red Rock Resorts in a report on Wednesday, February 11th. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Red Rock Resorts presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.15.

Red Rock Resorts Profile

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.