Bridgefront Capital LLC Makes New $629,000 Investment in Red Rock Resorts, Inc. $RRR

Bridgefront Capital LLC purchased a new stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 10,305 shares of the company’s stock, valued at approximately $629,000.

Several other hedge funds also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Red Rock Resorts by 2,248.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,354,644 shares of the company’s stock valued at $82,715,000 after buying an additional 1,296,956 shares during the period. Bamco Inc. NY grew its holdings in Red Rock Resorts by 5.7% during the second quarter. Bamco Inc. NY now owns 12,269,004 shares of the company’s stock worth $638,356,000 after acquiring an additional 666,593 shares during the period. Eminence Capital LP grew its holdings in Red Rock Resorts by 23.4% during the second quarter. Eminence Capital LP now owns 3,059,372 shares of the company’s stock worth $159,179,000 after acquiring an additional 581,061 shares during the period. Vanguard Group Inc. raised its position in Red Rock Resorts by 6.7% in the third quarter. Vanguard Group Inc. now owns 5,564,421 shares of the company’s stock worth $339,764,000 after acquiring an additional 349,822 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its position in Red Rock Resorts by 53.8% in the second quarter. Balyasny Asset Management L.P. now owns 793,371 shares of the company’s stock worth $41,279,000 after acquiring an additional 277,426 shares in the last quarter. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Red Rock Resorts Trading Up 0.2%

Shares of NASDAQ RRR opened at $57.84 on Monday. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 10.26. Red Rock Resorts, Inc. has a 12 month low of $35.09 and a 12 month high of $68.99. The company has a market cap of $6.07 billion, a price-to-earnings ratio of 18.48, a P/E/G ratio of 2.40 and a beta of 1.46. The business has a fifty day simple moving average of $61.98 and a 200-day simple moving average of $60.29.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.34. The firm had revenue of $511.78 million for the quarter, compared to analysts’ expectations 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 quarter last year, the business posted $0.76 EPS. Sell-side analysts predict that Red Rock Resorts, Inc. will post 1.76 EPS for the current year.

Red Rock Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, March 16th. Red Rock Resorts’s dividend payout ratio (DPR) is 33.23%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Red Rock Resorts from $58.00 to $59.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 11th. Citizens Jmp boosted their target price on shares of Red Rock Resorts from $65.00 to $68.00 and gave the stock a “market outperform” rating in a report on Wednesday, January 14th. Weiss Ratings raised shares of Red Rock Resorts from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Jefferies Financial Group restated a “buy” rating and set a $79.00 target price on shares of Red Rock Resorts in a report on Wednesday, February 11th. Finally, Barclays lifted their price target on shares of Red Rock Resorts from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Red Rock Resorts currently has an average rating of “Moderate Buy” and an average price target of $71.15.

Red Rock Resorts Company 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.