Arizona State Retirement System Increases Stake in Red Rock Resorts, Inc. (NASDAQ:RRR)

Arizona State Retirement System increased its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR) by 3.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,086 shares of the company’s stock after purchasing an additional 444 shares during the quarter. Arizona State Retirement System’s holdings in Red Rock Resorts were worth $774,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in RRR. Bamco Inc. NY lifted its stake in shares of Red Rock Resorts by 0.5% in the 1st quarter. Bamco Inc. NY now owns 10,409,100 shares of the company’s stock valued at $622,672,000 after acquiring an additional 50,246 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Red Rock Resorts by 4.3% in the first quarter. Vanguard Group Inc. now owns 5,136,942 shares of the company’s stock worth $307,292,000 after purchasing an additional 209,593 shares during the last quarter. Eminence Capital LP increased its stake in shares of Red Rock Resorts by 21.1% in the fourth quarter. Eminence Capital LP now owns 2,373,556 shares of the company’s stock worth $126,582,000 after buying an additional 413,871 shares during the period. Westfield Capital Management Co. LP raised its holdings in Red Rock Resorts by 2.4% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,386,676 shares of the company’s stock valued at $73,951,000 after buying an additional 32,427 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its stake in shares of Red Rock Resorts by 26.7% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company’s stock worth $65,706,000 after purchasing an additional 251,855 shares during the last quarter. 47.84% of the stock is owned by institutional investors.

Insider Buying and Selling at Red Rock Resorts

In other Red Rock Resorts news, VP Lorenzo J. Fertitta bought 33,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was bought at an average price of $49.77 per share, for a total transaction of $1,642,410.00. Following the completion of the transaction, the vice president now owns 47,546,301 shares in the company, valued at approximately $2,366,379,400.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Frank J. Fertitta III acquired 67,000 shares of Red Rock Resorts stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $49.77 per share, with a total value of $3,334,590.00. Following the completion of the purchase, the chief executive officer now owns 46,048,301 shares of the company’s stock, valued at approximately $2,291,823,940.77. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Lorenzo J. Fertitta bought 33,000 shares of the stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $49.77 per share, with a total value of $1,642,410.00. Following the completion of the purchase, the vice president now directly owns 47,546,301 shares in the company, valued at approximately $2,366,379,400.77. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 200,000 shares of company stock valued at $10,426,000. Corporate insiders own 53.28% of the company’s stock.

Red Rock Resorts Trading Up 1.1 %

NASDAQ RRR opened at $54.20 on Friday. The stock has a market capitalization of $5.72 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 5.34 and a beta of 2.04. The firm has a 50 day moving average of $56.26 and a two-hundred day moving average of $55.39. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 15.15. Red Rock Resorts, Inc. has a 52 week low of $37.82 and a 52 week high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.16. The business had revenue of $486.40 million during the quarter, compared to the consensus estimate of $475.80 million. Red Rock Resorts had a return on equity of 83.84% and a net margin of 9.21%. The company’s revenue was up 16.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.65 earnings per share. As a group, research analysts expect that Red Rock Resorts, Inc. will post 1.62 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, September 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.85%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 34.72%.

Analyst Ratings Changes

RRR has been the subject of a number of research reports. Susquehanna increased their price objective on Red Rock Resorts from $63.00 to $70.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Stifel Nicolaus upped their price objective on Red Rock Resorts from $59.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Morgan Stanley boosted their price objective on shares of Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 4th. Barclays lifted their price objective on Red Rock Resorts from $63.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company cut Red Rock Resorts from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $63.00 to $64.00 in a report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $63.50.

Red Rock Resorts 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.