Price T Rowe Associates Inc. MD Decreases Stake in Red Rock Resorts, Inc. (NASDAQ:RRR)

Price T Rowe Associates Inc. MD cut its stake in Red Rock Resorts, Inc. (NASDAQ:RRR) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 283,453 shares of the company’s stock after selling 2,943 shares during the period. Price T Rowe Associates Inc. MD owned 0.27% of Red Rock Resorts worth $13,108,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Red Rock Resorts by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 5,181,146 shares of the company’s stock worth $239,576,000 after purchasing an additional 50,193 shares during the last quarter. Long Pond Capital LP lifted its stake in Red Rock Resorts by 142.5% during the 4th quarter. Long Pond Capital LP now owns 1,474,153 shares of the company’s stock valued at $68,165,000 after acquiring an additional 866,320 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Red Rock Resorts by 20.6% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,344,058 shares of the company’s stock valued at $62,149,000 after acquiring an additional 229,843 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Red Rock Resorts by 7.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 621,151 shares of the company’s stock worth $28,722,000 after acquiring an additional 44,043 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Red Rock Resorts by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 500,365 shares of the company’s stock valued at $23,138,000 after purchasing an additional 9,918 shares during the period. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Stock Up 3.6 %

RRR opened at $43.81 on Friday. The company has a market cap of $4.65 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 4.32 and a beta of 1.69. Red Rock Resorts, Inc. has a twelve month low of $35.09 and a twelve month high of $61.73. The company has a 50-day moving average price of $43.33 and a 200 day moving average price of $47.32. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Thursday, May 1st. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.33. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. The business had revenue of $497.86 million during the quarter, compared to analysts’ expectations of $499.12 million. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The business’s revenue was up 1.8% compared to the same quarter last year. Sell-side analysts expect that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, June 16th. This represents a $1.00 annualized dividend and a yield of 2.28%. Red Rock Resorts’s dividend payout ratio is presently 39.84%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RRR. Morgan Stanley reduced their price objective on Red Rock Resorts from $45.00 to $43.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Susquehanna decreased their price target on Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating for the company in a report on Wednesday, April 16th. Macquarie reaffirmed an “outperform” rating and set a $58.00 price objective on shares of Red Rock Resorts in a research note on Friday. JMP Securities decreased their target price on shares of Red Rock Resorts from $59.00 to $55.00 and set a “market outperform” rating for the company in a research note on Thursday, April 17th. Finally, Jefferies Financial Group restated a “hold” rating and set a $51.00 price target (down previously from $64.00) on shares of Red Rock Resorts in a research report on Friday, January 3rd. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Red Rock Resorts currently has an average rating of “Hold” and an average price target of $52.83.

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.