Red Rock Resorts, Inc. (NASDAQ:RRR) Shares Bought by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP lifted its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 349.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,267 shares of the company’s stock after acquiring an additional 19,647 shares during the period. Brevan Howard Capital Management LP’s holdings in Red Rock Resorts were worth $1,168,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC lifted its stake in Red Rock Resorts by 654.7% during the fourth quarter. Sterling Capital Management LLC now owns 883 shares of the company’s stock valued at $41,000 after purchasing an additional 766 shares during the last quarter. KBC Group NV increased its stake in Red Rock Resorts by 37.1% in the 4th quarter. KBC Group NV now owns 1,996 shares of the company’s stock worth $92,000 after purchasing an additional 540 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Red Rock Resorts by 47.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company’s stock worth $95,000 after buying an additional 664 shares during the period. Mayfair Advisory Group LLC boosted its holdings in shares of Red Rock Resorts by 15.1% in the fourth quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock worth $208,000 after buying an additional 591 shares during the period. Finally, Cibc World Markets Corp purchased a new position in shares of Red Rock Resorts in the fourth quarter worth approximately $213,000. 47.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RRR shares. Macquarie reiterated an “outperform” rating and issued a $58.00 target price on shares of Red Rock Resorts in a research report on Friday, May 2nd. Susquehanna cut their price objective 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. Truist Financial lowered their target price on Red Rock Resorts from $56.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, April 23rd. JMP Securities reduced their price target on Red Rock Resorts from $59.00 to $55.00 and set a “market outperform” rating for the company in a report on Thursday, April 17th. Finally, Morgan Stanley cut their price objective on shares of Red Rock Resorts from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Red Rock Resorts currently has an average rating of “Hold” and an average price target of $52.83.

Red Rock Resorts Price Performance

Shares of Red Rock Resorts stock opened at $43.99 on Thursday. Red Rock Resorts, Inc. has a twelve month low of $35.09 and a twelve month high of $61.73. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02. The firm has a market cap of $4.66 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 4.32 and a beta of 1.64. The firm’s 50-day simple moving average is $42.96 and its 200-day simple moving average is $47.14.

Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Thursday, May 1st. The company reported $0.80 earnings per share (EPS) for the quarter, topping 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 period in the prior year, the firm posted $0.68 EPS. Red Rock Resorts’s quarterly revenue was up 1.8% compared to the same quarter last year. As a group, research analysts expect that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The company also recently announced an annual dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Wednesday, May 14th will be paid a $1.00 dividend. The ex-dividend date is Wednesday, May 14th. This represents a dividend yield of 2.29%. Red Rock Resorts’s dividend payout ratio is presently 38.76%.

About Red Rock Resorts

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.