Red Rock Resorts, Inc. $RRR Shares Sold by Fox Run Management L.L.C.

Fox Run Management L.L.C. cut its stake in Red Rock Resorts, Inc. (NASDAQ:RRR) by 47.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 4,616 shares of the company’s stock after selling 4,193 shares during the period. Fox Run Management L.L.C.’s holdings in Red Rock Resorts were worth $200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in RRR. Bamco Inc. NY increased its holdings in shares of Red Rock Resorts by 6.9% in the 4th quarter. Bamco Inc. NY now owns 11,356,201 shares of the company’s stock worth $525,111,000 after acquiring an additional 732,917 shares during the period. Eminence Capital LP grew its position in Red Rock Resorts by 36.1% in the 4th quarter. Eminence Capital LP now owns 2,056,588 shares of the company’s stock worth $95,097,000 after purchasing an additional 546,047 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in shares of Red Rock Resorts by 19.2% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,602,368 shares of the company’s stock valued at $69,494,000 after purchasing an additional 258,310 shares during the period. Nuveen LLC acquired a new stake in shares of Red Rock Resorts in the first quarter valued at approximately $11,025,000. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of Red Rock Resorts by 537.7% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 215,397 shares of the company’s stock valued at $9,960,000 after buying an additional 181,619 shares during the last quarter. 47.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RRR shares. Barclays increased their price objective on Red Rock Resorts from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Mizuho boosted their price target on Red Rock Resorts from $59.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. JMP Securities raised their price target on Red Rock Resorts from $57.00 to $64.00 and gave the company a “market outperform” rating in a report on Wednesday, July 30th. Morgan Stanley lifted their price objective on shares of Red Rock Resorts from $49.00 to $53.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Finally, Stifel Nicolaus set a $60.00 target price on shares of Red Rock Resorts and gave the company a “hold” rating in a research report on Wednesday, July 30th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.73.

Red Rock Resorts Stock Down 0.9%

Shares of RRR stock opened at $59.66 on Thursday. Red Rock Resorts, Inc. has a 1 year low of $35.09 and a 1 year high of $62.00. The company has a debt-to-equity ratio of 11.28, a quick ratio of 0.84 and a current ratio of 0.89. The business’s fifty day moving average is $55.20 and its 200-day moving average is $49.09. The stock has a market cap of $6.29 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 2.43 and a beta of 1.66.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.55. Red Rock Resorts had a return on equity of 59.97% and a net margin of 8.89%.The business had revenue of $526.27 million during the quarter, compared to analyst estimates of $485.44 million. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. Equities 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 Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, September 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.7%. Red Rock Resorts’s dividend payout ratio (DPR) is 34.01%.

Insider Activity

In related news, EVP Jeffrey T. Welch sold 56,653 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $60.23, for a total transaction of $3,412,210.19. Following the completion of the sale, the executive vice president directly owned 314,767 shares of the company’s stock, valued at $18,958,416.41. This represents a 15.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephen Lawrence Cootey sold 121,400 shares of Red Rock Resorts stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $60.04, for a total transaction of $7,288,856.00. Following the completion of the transaction, the chief financial officer owned 260,268 shares in the company, valued at approximately $15,626,490.72. This trade represents a 31.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 225,628 shares of company stock worth $13,501,984. Corporate insiders own 53.81% of the company’s stock.

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.