Diamond Hill Capital Management Inc. Acquires 226,988 Shares of Red Rock Resorts, Inc. (RRR)

Diamond Hill Capital Management Inc. raised its position in Red Rock Resorts, Inc. (NASDAQ:RRR) by 5.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,593,762 shares of the company’s stock after buying an additional 226,988 shares during the period. Diamond Hill Capital Management Inc. owned 6.99% of Red Rock Resorts worth $108,183,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Red Rock Resorts by 27.7% in the first quarter. Vanguard Group Inc. now owns 4,165,673 shares of the company’s stock worth $92,395,000 after buying an additional 904,273 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Red Rock Resorts by 78.7% in the first quarter. JPMorgan Chase & Co. now owns 3,391,572 shares of the company’s stock worth $75,225,000 after buying an additional 1,493,890 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Red Rock Resorts by 4.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,751,102 shares of the company’s stock worth $38,840,000 after buying an additional 74,797 shares in the last quarter. Victory Capital Management Inc. boosted its position in Red Rock Resorts by 20.5% in the first quarter. Victory Capital Management Inc. now owns 1,502,132 shares of the company’s stock worth $33,317,000 after buying an additional 256,020 shares in the last quarter. Finally, Teachers Advisors LLC boosted its position in Red Rock Resorts by 12.2% in the fourth quarter. Teachers Advisors LLC now owns 1,427,833 shares of the company’s stock worth $33,111,000 after buying an additional 154,887 shares in the last quarter. Institutional investors own 59.47% of the company’s stock.

Red Rock Resorts, Inc. (RRR) opened at 21.67 on Friday. Red Rock Resorts, Inc. has a 52 week low of $20.58 and a 52 week high of $24.94. The company has a market capitalization of $1.47 billion, a PE ratio of 55.14 and a beta of 0.51. The stock’s 50 day moving average price is $23.51 and its 200-day moving average price is $23.13.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 15th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.40 annualized dividend and a yield of 1.85%. Red Rock Resorts’s payout ratio is 83.33%.

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RRR has been the topic of a number of research analyst reports. Zacks Investment Research cut Red Rock Resorts from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 5th. Stifel Nicolaus reissued a “buy” rating and issued a $27.00 target price on shares of Red Rock Resorts in a research note on Friday, July 14th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $26.00 target price (up previously from $24.50) on shares of Red Rock Resorts in a research note on Monday, June 5th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $26.25.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc is a gaming, development and management company. The Company’s segments include Las Vegas operations, Native American management, and Corporate and other. The Las Vegas operations segment includes all of its Las Vegas area casino properties and the Native American management segment includes its Native American management arrangements.