Fieldview Capital Management LLC Makes New $1.54 Million Investment in Red Rock Resorts, Inc. $RRR

Fieldview Capital Management LLC acquired a new position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 24,899 shares of the company’s stock, valued at approximately $1,542,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC acquired a new position in Red Rock Resorts during the fourth quarter worth $25,000. Kestra Advisory Services LLC acquired a new position in Red Rock Resorts during the fourth quarter worth $27,000. GAMMA Investing LLC boosted its stake in Red Rock Resorts by 53.8% during the fourth quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock worth $47,000 after buying an additional 263 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Red Rock Resorts by 98.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,474 shares of the company’s stock worth $91,000 after buying an additional 733 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in Red Rock Resorts during the second quarter worth $94,000. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Price Performance

NASDAQ:RRR opened at $63.11 on Monday. Red Rock Resorts, Inc. has a 52 week low of $47.56 and a 52 week high of $68.99. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 14.42. The company has a market capitalization of $6.63 billion, a P/E ratio of 20.29, a P/E/G ratio of 4.78 and a beta of 1.36. The stock’s fifty day moving average is $55.80 and its two-hundred day moving average is $59.03.

Red Rock Resorts (NASDAQ:RRR) last posted its earnings results on Wednesday, April 29th. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.17). Red Rock Resorts had a net margin of 9.21% and a return on equity of 61.67%. The business had revenue of $507.32 million during the quarter, compared to analysts’ expectations of $505.63 million. During the same quarter in the prior year, the firm earned $0.75 EPS. Red Rock Resorts’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts expect that Red Rock Resorts, Inc. will post 1.53 EPS for the current year.

Red Rock Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.26 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.04 dividend on an annualized basis and a yield of 1.6%. Red Rock Resorts’s payout ratio is currently 33.44%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on RRR shares. Susquehanna lowered their price objective on Red Rock Resorts from $77.00 to $70.00 and set a “positive” rating on the stock in a research note on Thursday, April 30th. Citigroup lowered their price objective on Red Rock Resorts from $76.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Stifel Nicolaus set a $70.00 price objective on Red Rock Resorts in a research note on Friday, May 29th. Zacks Research lowered Red Rock Resorts from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings raised Red Rock Resorts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, June 8th. Twelve analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Red Rock Resorts currently has an average rating of “Moderate Buy” and a consensus target price of $67.53.

Red Rock Resorts Company 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.