Truist Financial Corp boosted its holdings in shares of Red Rock Resorts, Inc. (NASDAQ:RRR – Get Rating) by 17.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 6,296 shares of the company's stock after buying an additional 949 shares during the period. Truist Financial Corp's holdings in Red Rock Resorts were worth $305,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of RRR. Lindbrook Capital LLC grew its position in shares of Red Rock Resorts by 247.1% in the first quarter. Lindbrook Capital LLC now owns 1,024 shares of the company's stock valued at $50,000 after purchasing an additional 729 shares during the last quarter. First Republic Investment Management Inc. lifted its stake in shares of Red Rock Resorts by 0.3% in the fourth quarter. First Republic Investment Management Inc. now owns 359,202 shares of the company's stock valued at $19,760,000 after buying an additional 948 shares during the period. Strs Ohio lifted its stake in shares of Red Rock Resorts by 56.5% in the fourth quarter. Strs Ohio now owns 3,600 shares of the company's stock valued at $198,000 after buying an additional 1,300 shares during the period. AHL Investment Management Inc. bought a new stake in shares of Red Rock Resorts in the fourth quarter valued at about $83,000. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of Red Rock Resorts by 13.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 20,567 shares of the company's stock valued at $1,131,000 after buying an additional 2,472 shares during the period. 99.30% of the stock is owned by institutional investors and hedge funds.
Get Red Rock Resorts alerts:Red Rock Resorts Stock Performance
Red Rock Resorts stock opened at $39.33 on Friday. 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 stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 9.53 and a beta of 2.29. Red Rock Resorts, Inc. has a 12-month low of $30.98 and a 12-month high of $58.74. The stock has a 50-day simple moving average of $35.70 and a 200 day simple moving average of $42.29.
Red Rock Resorts (NASDAQ:RRR – Get Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.24. Red Rock Resorts had a net margin of 21.30% and a return on equity of 81.97%. The business had revenue of $401.64 million during the quarter, compared to analyst estimates of $408.32 million. During the same quarter last year, the business posted $0.98 earnings per share. Red Rock Resorts's revenue for the quarter was up 13.9% compared to the same quarter last year. On average, research analysts anticipate that Red Rock Resorts, Inc. will post 2 earnings per share for the current fiscal year.Red Rock Resorts Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Thursday, June 16th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Wednesday, June 15th. Red Rock Resorts's dividend payout ratio (DPR) is presently 24.27%.
Analyst Ratings Changes
Several equities research analysts recently weighed in on RRR shares. StockNews.com cut shares of Red Rock Resorts from a "buy" rating to a "hold" rating in a research note on Thursday, May 5th. KeyCorp set a $45.00 price target on shares of Red Rock Resorts in a research note on Tuesday, July 19th. Berenberg Bank started coverage on shares of Red Rock Resorts in a research note on Thursday, May 12th. They set a "buy" rating and a $50.00 price target for the company. Truist Financial cut their price target on shares of 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. Finally, Loop Capital started coverage on shares of Red Rock Resorts in a research note on Monday, July 11th. They set a "hold" rating and a $36.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Red Rock Resorts currently has a consensus rating of "Hold" and a consensus 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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