Prudential Financial Inc. raised its holdings in Red Rock Resorts Inc (NASDAQ:RRR) by 39.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,330 shares of the company’s stock after buying an additional 2,640 shares during the quarter. Prudential Financial Inc.’s holdings in Red Rock Resorts were worth $273,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in RRR. Teachers Advisors LLC grew its position in Red Rock Resorts by 125.5% in the fourth quarter. Teachers Advisors LLC now owns 1,942,818 shares of the company’s stock valued at $65,551,000 after acquiring an additional 1,081,326 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Red Rock Resorts during the fourth quarter worth about $35,370,000. Bamco Inc. NY grew its holdings in shares of Red Rock Resorts by 13.8% during the fourth quarter. Bamco Inc. NY now owns 8,074,735 shares of the company’s stock worth $272,442,000 after purchasing an additional 978,754 shares during the last quarter. Lomas Capital Management LLC grew its holdings in shares of Red Rock Resorts by 229.2% during the fourth quarter. Lomas Capital Management LLC now owns 885,727 shares of the company’s stock worth $29,884,000 after purchasing an additional 616,642 shares during the last quarter. Finally, TIAA CREF Investment Management LLC grew its holdings in shares of Red Rock Resorts by 46.2% during the fourth quarter. TIAA CREF Investment Management LLC now owns 1,430,059 shares of the company’s stock worth $48,250,000 after purchasing an additional 451,588 shares during the last quarter. 59.53% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Red Rock Resorts opened at $34.81 on Monday, MarketBeat Ratings reports. The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of 23.52 and a beta of 1.65. The company has a quick ratio of 1.04, a current ratio of 1.09 and a debt-to-equity ratio of 3.67. Red Rock Resorts Inc has a 1 year low of $21.41 and a 1 year high of $35.77.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.40 annualized dividend and a dividend yield of 1.15%. Red Rock Resorts’s payout ratio is 64.52%.
RRR has been the topic of several research reports. Telsey Advisory Group initiated coverage on Red Rock Resorts in a report on Tuesday, March 13th. They set a “market perform” rating and a $32.00 price target on the stock. Zacks Investment Research upgraded Red Rock Resorts from a “hold” rating to a “strong-buy” rating and set a $39.00 price target on the stock in a report on Thursday, March 1st. Macquarie cut Red Rock Resorts from an “outperform” rating to a “neutral” rating in a report on Tuesday, April 3rd. They noted that the move was a valuation call. Stifel Nicolaus cut Red Rock Resorts from a “buy” rating to a “hold” rating and boosted their price target for the stock from $29.00 to $37.00 in a report on Friday, February 23rd. They noted that the move was a valuation call. Finally, BidaskClub upgraded Red Rock Resorts from a “sell” rating to a “hold” rating in a report on Tuesday, April 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Red Rock Resorts currently has a consensus rating of “Hold” and an average price target of $34.00.
About Red Rock Resorts
Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.
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