Algert Global LLC Invests $7.34 Million in Red Rock Resorts, Inc. $RRR

Algert Global LLC bought a new stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 120,240 shares of the company’s stock, valued at approximately $7,342,000. Algert Global LLC owned approximately 0.11% of Red Rock Resorts as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in 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 period. Strs Ohio acquired a new position in shares of Red Rock Resorts in the 3rd quarter worth approximately $37,000. Canada Pension Plan Investment Board bought a new position in shares of Red Rock Resorts during the 2nd quarter worth approximately $94,000. Russell Investments Group Ltd. lifted its position in shares of Red Rock Resorts by 1,385.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,872 shares of the company’s stock worth $97,000 after buying an additional 1,746 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Red Rock Resorts in the 3rd quarter valued at $136,000. Institutional investors own 47.84% of the company’s stock.

Analyst Upgrades and Downgrades

RRR has been the topic of a number of analyst reports. Truist Financial reiterated a “buy” rating and issued a $80.00 price target (up from $75.00) on shares of Red Rock Resorts 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 company a “market outperform” rating in a research note on Wednesday, January 14th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $79.00 target price on shares of Red Rock Resorts in a report on Wednesday, February 11th. Citigroup reiterated a “market outperform” rating on shares of Red Rock Resorts in a research report on Tuesday, March 10th. Finally, Stifel Nicolaus lifted their price target on shares of Red Rock Resorts from $71.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $71.15.

Red Rock Resorts Stock Down 0.1%

Shares of NASDAQ:RRR opened at $57.77 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 10.26. The firm has a market cap of $6.07 billion, a P/E ratio of 18.46, a P/E/G ratio of 2.40 and a beta of 1.46. Red Rock Resorts, Inc. has a 12 month low of $35.09 and a 12 month high of $68.99. The company’s 50-day moving average price is $61.90 and its two-hundred day moving average price is $60.26.

Red Rock Resorts (NASDAQ:RRR) last announced its 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 company had revenue of $511.78 million during the quarter, compared to the consensus estimate of $500.90 million. Red Rock Resorts had a net margin of 9.35% and a return on equity of 58.13%. The company’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.76 earnings per share. As a group, research analysts forecast that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

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

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.