State of New Jersey Common Pension Fund D lessened its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR – Get Rating) by 7.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 51,096 shares of the company's stock after selling 4,290 shares during the period. State of New Jersey Common Pension Fund D's holdings in Red Rock Resorts were worth $2,481,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of RRR. FourThought Financial LLC lifted its holdings in shares of Red Rock Resorts by 17.9% during the first quarter. FourThought Financial LLC now owns 2,353 shares of the company's stock valued at $114,000 after acquiring an additional 357 shares during the period. Convergence Investment Partners LLC lifted its holdings in shares of Red Rock Resorts by 17.3% during the first quarter. Convergence Investment Partners LLC now owns 3,779 shares of the company's stock valued at $184,000 after acquiring an additional 557 shares during the period. Lindbrook Capital LLC lifted its holdings in shares of Red Rock Resorts by 247.1% during the first quarter. Lindbrook Capital LLC now owns 1,024 shares of the company's stock valued at $50,000 after acquiring an additional 729 shares during the period. First Republic Investment Management Inc. lifted its holdings in shares of Red Rock Resorts by 0.3% during the fourth quarter. First Republic Investment Management Inc. now owns 359,202 shares of the company's stock valued at $19,760,000 after acquiring an additional 948 shares during the period. Finally, Truist Financial Corp lifted its holdings in shares of Red Rock Resorts by 17.7% during the first quarter. Truist Financial Corp now owns 6,296 shares of the company's stock valued at $305,000 after acquiring an additional 949 shares during the period. Institutional investors and hedge funds own 99.30% of the company's stock.
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Red Rock Resorts Price Performance
Shares of RRR stock opened at $39.92 on Tuesday. The stock has a 50-day moving average price of $35.75 and a 200 day moving average price of $42.12. The company has a quick ratio of 1.93, a current ratio of 1.98 and a debt-to-equity ratio of 29.17. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of 9.69 and a beta of 2.27. Red Rock Resorts, Inc. has a 12 month low of $30.98 and a 12 month high of $58.74.
Red Rock Resorts (NASDAQ:RRR – Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.24. The firm had revenue of $401.64 million during the quarter, compared to analyst estimates of $408.32 million. Red Rock Resorts had a return on equity of 81.97% and a net
margin of 21.30%. The company's revenue was up 13.9% on a year-over-year basis. During the same period last year, the company earned $0.98 earnings per share. Research analysts expect that Red Rock Resorts, Inc. will post 2 EPS for the current year.
Analyst Ratings Changes
A number of research analysts have issued reports on the company. Loop Capital assumed coverage on Red Rock Resorts in a report on Monday, July 11th. They set a "hold" rating and a $36.00 price objective for the company. Deutsche Bank Aktiengesellschaft cut their price objective on Red Rock Resorts from $54.00 to $45.00 and set a "buy" rating for the company in a report on Wednesday, July 13th. Wells Fargo & Company lowered their target price on Red Rock Resorts from $56.00 to $48.00 and set an "overweight" rating for the company in a research note on Thursday, July 14th. Berenberg Bank started coverage on Red Rock Resorts in a research note on Thursday, May 12th. They issued a "buy" rating and a $50.00 target price for the company. Finally, Truist Financial lowered their target price on Red Rock Resorts from $65.00 to $45.00 and set a "buy" rating for the company in a research note on Wednesday, July 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $46.75.
Red Rock Resorts Company Profile
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Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, develops and operates casino and entertainment properties in the United States. It operates through two segments, Las Vegas Operations and Native American Management. The company owns and operates 9 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.
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