Thrivent Financial for Lutherans Takes Position in Red Rock Resorts, Inc. $RRR

Thrivent Financial for Lutherans acquired a new stake in Red Rock Resorts, Inc. (NASDAQ:RRR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 35,756 shares of the company’s stock, valued at approximately $2,215,000.

Other large investors have also made changes to their positions in the company. Salomon & Ludwin LLC purchased a new stake in shares of Red Rock Resorts in the 4th quarter valued at $25,000. Strs Ohio acquired a new position in shares of Red Rock Resorts in the 3rd quarter valued at $37,000. GAMMA Investing LLC lifted its stake in shares of Red Rock Resorts by 53.8% in the 4th quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock valued at $47,000 after purchasing an additional 263 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of Red Rock Resorts in the 2nd quarter valued at $94,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Red Rock Resorts by 1,385.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,872 shares of the company’s stock valued at $97,000 after purchasing an additional 1,746 shares during the period. 47.84% of the stock is owned by hedge funds and other institutional investors.

Red Rock Resorts Stock Performance

NASDAQ:RRR opened at $55.38 on Tuesday. The company has a debt-to-equity ratio of 14.42, a quick ratio of 0.76 and a current ratio of 0.81. The company has a fifty day moving average of $55.25 and a two-hundred day moving average of $58.78. The stock has a market capitalization of $5.82 billion, a PE ratio of 17.81, a P/E/G ratio of 3.72 and a beta of 1.35. Red Rock Resorts, Inc. has a fifty-two week low of $46.17 and a fifty-two week high of $68.99.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.17). The company had revenue of $507.32 million for the quarter, compared to analyst estimates of $505.63 million. Red Rock Resorts had a return on equity of 61.67% and a net margin of 9.21%.The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 earnings per share. As a group, research analysts forecast that Red Rock Resorts, Inc. will post 1.71 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.26 per share. The ex-dividend date is Monday, June 15th. This represents a $1.04 dividend on an annualized basis and a yield of 1.9%. Red Rock Resorts’s dividend payout ratio is currently 33.44%.

Analysts Set New Price Targets

RRR has been the subject of several analyst reports. Mizuho set a $77.00 target price on shares of Red Rock Resorts in a research note on Wednesday, February 11th. Stifel Nicolaus set a $72.00 target price on shares of Red Rock Resorts in a research note on Thursday, April 30th. Zacks Research cut shares of Red Rock Resorts from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Wall Street Zen cut shares of Red Rock Resorts from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Wells Fargo & Company decreased their target price on shares of Red Rock Resorts from $59.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday, April 30th. Twelve investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $67.67.

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.