Northern Trust Corp raised its holdings in Red Rock Resorts Inc (NASDAQ:RRR) by 5.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 808,710 shares of the company’s stock after buying an additional 40,926 shares during the quarter. Northern Trust Corp owned about 0.70% of Red Rock Resorts worth $23,679,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of RRR. Schwab Charles Investment Management Inc. grew its position in shares of Red Rock Resorts by 17.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 402,887 shares of the company’s stock worth $13,594,000 after buying an additional 59,511 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Red Rock Resorts by 763.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,964 shares of the company’s stock valued at $134,000 after purchasing an additional 3,505 shares during the period. Teacher Retirement System of Texas purchased a new position in shares of Red Rock Resorts in the 4th quarter valued at approximately $788,000. California Public Employees Retirement System lifted its stake in shares of Red Rock Resorts by 50.3% in the 4th quarter. California Public Employees Retirement System now owns 32,388 shares of the company’s stock valued at $1,093,000 after purchasing an additional 10,838 shares during the period. Finally, Swiss National Bank lifted its stake in shares of Red Rock Resorts by 2.5% in the 4th quarter. Swiss National Bank now owns 116,100 shares of the company’s stock valued at $3,917,000 after purchasing an additional 2,800 shares during the period. Hedge funds and other institutional investors own 59.53% of the company’s stock.
A number of research firms have recently commented on RRR. Nomura began coverage on Red Rock Resorts in a research note on Tuesday, May 8th. They issued a “buy” rating and a $39.00 target price for the company. BidaskClub cut Red Rock Resorts from a “hold” rating to a “sell” rating in a research note on Wednesday, April 4th. Citigroup lowered their target price on Red Rock Resorts from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, May 2nd. Zacks Investment Research cut Red Rock Resorts from a “hold” rating to a “sell” rating in a research note on Thursday, May 3rd. Finally, Macquarie cut Red Rock Resorts from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 3rd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. Red Rock Resorts currently has a consensus rating of “Hold” and an average price target of $34.00.
Shares of Red Rock Resorts opened at $34.72 on Friday, MarketBeat reports. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 56.00 and a beta of 1.65. Red Rock Resorts Inc has a 12-month low of $21.41 and a 12-month high of $35.77. The company has a debt-to-equity ratio of 3.67, a current ratio of 1.09 and a quick ratio of 1.04.
Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Tuesday, May 1st. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.04. The business had revenue of $421.04 million during the quarter, compared to analysts’ expectations of $411.13 million. Red Rock Resorts had a return on equity of 16.46% and a net margin of 4.11%. research analysts anticipate that Red Rock Resorts Inc will post 1.29 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, June 14th. Red Rock Resorts’s payout ratio is 64.52%.
Red Rock Resorts Company Profile
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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