Virtu Financial LLC Takes $212,000 Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

Virtu Financial LLC purchased a new stake in Red Rock Resorts, Inc. (NASDAQ:RRR) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,981 shares of the company’s stock, valued at approximately $212,000.

Several other institutional investors and hedge funds also recently made changes to their positions in RRR. Bamco Inc. NY boosted its holdings in Red Rock Resorts by 10.8% during the third quarter. Bamco Inc. NY now owns 9,856,963 shares of the company’s stock worth $404,135,000 after purchasing an additional 962,841 shares during the last quarter. FMR LLC boosted its holdings in Red Rock Resorts by 46.4% during the third quarter. FMR LLC now owns 5,249,335 shares of the company’s stock worth $215,223,000 after purchasing an additional 1,663,839 shares during the last quarter. Eminence Capital LP boosted its holdings in Red Rock Resorts by 21.1% during the fourth quarter. Eminence Capital LP now owns 2,373,556 shares of the company’s stock worth $126,582,000 after purchasing an additional 413,871 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in Red Rock Resorts by 2.4% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,386,676 shares of the company’s stock worth $73,951,000 after purchasing an additional 32,427 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Red Rock Resorts by 7.9% during the fourth quarter. Franklin Resources Inc. now owns 1,019,614 shares of the company’s stock worth $54,376,000 after purchasing an additional 74,566 shares during the last quarter. Institutional investors and hedge funds own 47.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Barclays reduced their target price on shares of Red Rock Resorts from $64.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday, May 8th. JPMorgan Chase & Co. upped their price target on shares of Red Rock Resorts from $63.00 to $69.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Stifel Nicolaus dropped their price target on shares of Red Rock Resorts from $61.00 to $59.00 and set a “hold” rating on the stock in a research report on Wednesday, May 8th. JMP Securities dropped their price target on shares of Red Rock Resorts from $66.00 to $65.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 8th. Finally, Morgan Stanley upped their price target on shares of Red Rock Resorts from $51.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.58.

Red Rock Resorts Price Performance

Shares of RRR opened at $52.80 on Friday. The firm has a market capitalization of $5.58 billion, a PE ratio of 18.33, a PEG ratio of 2.47 and a beta of 2.00. The company’s 50-day moving average is $52.82 and its 200-day moving average is $54.29. Red Rock Resorts, Inc. has a fifty-two week low of $37.82 and a fifty-two week high of $63.28. The company has a debt-to-equity ratio of 18.49, a current ratio of 0.90 and a quick ratio of 0.85.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.18. Red Rock Resorts had a net margin of 9.79% and a return on equity of 98.44%. The company had revenue of $488.90 million for the quarter, compared to analyst estimates of $490.49 million. During the same period in the prior year, the firm earned $0.75 earnings per share. The company’s revenue was up 12.7% on a year-over-year basis. Equities analysts forecast that Red Rock Resorts, Inc. will post 1.82 EPS for the current year.

Red Rock Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.89%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 34.72%.

Insider Activity at Red Rock Resorts

In related news, CEO Frank J. Fertitta III sold 800,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $50.39, for a total value of $40,312,000.00. Following the transaction, the chief executive officer now directly owns 45,847,301 shares in the company, valued at $2,310,245,497.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 53.28% of the stock is currently owned by corporate insiders.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc, through its interest in Station Casinos LLC, develops and operates casino and entertainment properties in the United States. The company owns and operates gaming and entertainment facilities, including Durango Casino & Resort and smaller casinos in the Las Vegas regional market.