Hantz Financial Services Inc. Sells 18,497 Shares of Red Rock Resorts, Inc. $RRR

Hantz Financial Services Inc. lessened its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR) by 6.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 252,246 shares of the company’s stock after selling 18,497 shares during the period. Hantz Financial Services Inc. owned about 0.24% of Red Rock Resorts worth $15,402,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Bamco Inc. NY raised its stake in shares of Red Rock Resorts by 5.7% in the second quarter. Bamco Inc. NY now owns 12,269,004 shares of the company’s stock worth $638,356,000 after purchasing an additional 666,593 shares during the last quarter. Eminence Capital LP raised its position in Red Rock Resorts by 23.4% in the 2nd quarter. Eminence Capital LP now owns 3,059,372 shares of the company’s stock valued at $159,179,000 after buying an additional 581,061 shares during the last quarter. Balyasny Asset Management L.P. raised its position in Red Rock Resorts by 53.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 793,371 shares of the company’s stock valued at $41,279,000 after buying an additional 277,426 shares during the last quarter. Armistice Capital LLC bought a new position in Red Rock Resorts during the 2nd quarter valued at $8,386,000. Finally, Millennium Management LLC boosted its holdings in Red Rock Resorts by 56.2% during the 1st quarter. Millennium Management LLC now owns 430,150 shares of the company’s stock worth $18,656,000 after acquiring an additional 154,839 shares during the last quarter. Institutional investors and hedge funds own 47.84% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on RRR shares. Jefferies Financial Group reiterated a “buy” rating on shares of Red Rock Resorts in a report on Wednesday, December 24th. Truist Financial set a $75.00 price objective on shares of Red Rock Resorts in a research note on Tuesday, January 13th. Stifel Nicolaus set a $68.00 target price on shares of Red Rock Resorts and gave the stock a “buy” rating in a research report on Monday, November 3rd. Barclays upped their target price on Red Rock Resorts from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Finally, UBS Group set a $73.00 price target on Red Rock Resorts in a report on Wednesday, December 24th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.50.

Red Rock Resorts Price Performance

Shares of NASDAQ RRR opened at $63.46 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.70 and a debt-to-equity ratio of 10.11. The stock has a fifty day simple moving average of $61.31 and a two-hundred day simple moving average of $59.63. Red Rock Resorts, Inc. has a 1-year low of $35.09 and a 1-year high of $64.69. The firm has a market cap of $6.72 billion, a price-to-earnings ratio of 20.21, a price-to-earnings-growth ratio of 2.70 and a beta of 1.49.

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

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.