Solstein Capital LLC cut its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR – Get Rating) by 29.2% in the 1st quarter, HoldingsChannel reports. The fund owned 3,555 shares of the company's stock after selling 1,465 shares during the quarter. Solstein Capital LLC's holdings in Red Rock Resorts were worth $173,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently bought and sold shares of RRR. Lindbrook Capital LLC lifted its position in Red Rock Resorts by 247.1% during the first quarter. Lindbrook Capital LLC now owns 1,024 shares of the company's stock worth $50,000 after acquiring an additional 729 shares during the last quarter. AHL Investment Management Inc. acquired a new stake in shares of Red Rock Resorts in the fourth quarter valued at approximately $83,000. Counterpoint Mutual Funds LLC acquired a new stake in shares of Red Rock Resorts in the first quarter valued at approximately $92,000. FourThought Financial LLC raised its position in shares of Red Rock Resorts by 17.9% in the first quarter. FourThought Financial LLC now owns 2,353 shares of the company's stock valued at $114,000 after buying an additional 357 shares in the last quarter. Finally, Convergence Investment Partners LLC raised its position in shares of Red Rock Resorts by 17.3% in the first quarter. Convergence Investment Partners LLC now owns 3,779 shares of the company's stock valued at $184,000 after buying an additional 557 shares in the last quarter. 99.30% of the stock is currently owned by institutional investors and hedge funds.
Get Red Rock Resorts alerts:Red Rock Resorts Stock Performance
NASDAQ RRR opened at $39.33 on Friday. The firm's fifty day moving average price is $35.75 and its two-hundred day moving average price is $42.22. The stock has a market cap of $4.23 billion, a PE ratio of 9.55 and a beta of 2.29. Red Rock Resorts, Inc. has a fifty-two week low of $30.98 and a fifty-two week high of $58.74. The company has a debt-to-equity ratio of 29.17, a quick ratio of 1.93 and a current ratio of 1.98.
Red Rock Resorts (NASDAQ:RRR – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $401.64 million for the quarter, compared to analysts' expectations of $408.32 million. During the same quarter in the previous year, the firm posted $0.98 earnings per share. Red Rock Resorts's revenue for the quarter was up 13.9% on a year-over-year basis. On average, equities analysts expect that Red Rock Resorts, Inc. will post 2 EPS for the current fiscal year.Red Rock Resorts Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Thursday, June 16th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, June 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.54%. Red Rock Resorts's dividend payout ratio is 24.27%.
Analyst Ratings Changes
A number of research firms have recently weighed in on RRR. Truist Financial dropped 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 report on Wednesday, July 20th. KeyCorp set a $45.00 price objective on shares of Red Rock Resorts in a research note on Tuesday, July 19th. Berenberg Bank assumed coverage on shares of Red Rock Resorts in a research note on Thursday, May 12th. They issued a "buy" rating and a $50.00 price objective on the stock. Loop Capital assumed coverage on shares of Red Rock Resorts in a research note on Monday, July 11th. They issued a "hold" rating and a $36.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Red Rock Resorts from $54.00 to $45.00 and set a "buy" rating on the stock in a research note on Wednesday, July 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Red Rock Resorts presently has a consensus rating of "Hold" and a consensus price target of $46.75.
About Red Rock Resorts
(Get Rating)
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.
Featured Stories
- Get a free copy of the StockNews.com research report on Red Rock Resorts (RRR)
- Procter's Earnings Start To Show Weakness In Q4
- MarketBeat: Week in Review 7/25 – 7/29
- The One Question You Have to Ask Before Investing in INTC Stock
- Home Depot: A Beautiful Boring Stock to Navigate a Bear Market
- Could CRISPR Therapeutics be a Moonshot Hiding in Plain Sight?
Want to see what other hedge funds are holding RRR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Red Rock Resorts, Inc. (NASDAQ:RRR – Get Rating).
Receive News & Ratings for Red Rock Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Rock Resorts and related companies with MarketBeat.com's FREE daily email newsletter.
