Crystal Rock Capital Management lowered its holdings in shares of Red Rock Resorts, Inc. (NASDAQ:RRR – Get Rating) by 7.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 147,500 shares of the company's stock after selling 12,125 shares during the quarter. Red Rock Resorts makes up 4.7% of Crystal Rock Capital Management's holdings, making the stock its 4th largest position. Crystal Rock Capital Management owned about 0.14% of Red Rock Resorts worth $7,163,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of RRR. Lindbrook Capital LLC lifted 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 acquiring an additional 729 shares in the last quarter. AHL Investment Management Inc. purchased a new position in shares of Red Rock Resorts in the fourth quarter valued at approximately $83,000. Counterpoint Mutual Funds LLC purchased a new position in shares of Red Rock Resorts in the first quarter valued at approximately $92,000. FourThought Financial LLC increased its holdings 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 purchasing an additional 357 shares during the last quarter. Finally, Strs Ohio increased its holdings 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 purchasing an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 99.30% of the company's stock.
Get Red Rock Resorts alerts:Red Rock Resorts Stock Performance
Shares of Red Rock Resorts stock traded up $0.05 on Monday, hitting $39.38. The stock had a trading volume of 1,509 shares, compared to its average volume of 684,672. Red Rock Resorts, Inc. has a 52-week low of $30.98 and a 52-week high of $58.74. The company has a current ratio of 1.98, a quick ratio of 1.93 and a debt-to-equity ratio of 29.17. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 9.55 and a beta of 2.27. The company's 50 day moving average price is $35.75 and its 200 day moving average price is $42.12.
Red Rock Resorts (NASDAQ:RRR – Get Rating) last posted its earnings results on Tuesday, May 3rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.24. The business had revenue of $401.64 million during the quarter, compared to the consensus estimate of $408.32 million. Red Rock Resorts had a return on equity of 81.97% and a net margin of 21.30%. The business's quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 EPS. On average, research analysts anticipate that Red Rock Resorts, Inc. will post 2 EPS for the current year.Red Rock Resorts Announces Dividend
The business also recently declared 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%.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the company. Truist Financial cut 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. Berenberg Bank began coverage on Red Rock Resorts in a research note on Thursday, May 12th. They set a "buy" rating and a $50.00 target price for the company. KeyCorp set a $45.00 price objective on Red Rock Resorts in a research note on Tuesday, July 19th. Deutsche Bank Aktiengesellschaft dropped their price objective on Red Rock Resorts from $54.00 to $45.00 and set a "buy" rating for the company in a research note on Wednesday, July 13th. Finally, Loop Capital began coverage on Red Rock Resorts in a research note on Monday, July 11th. They issued a "hold" rating and a $36.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $46.75.
About Red Rock Resorts
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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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