State of New Jersey Common Pension Fund D Sells 11,987 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

State of New Jersey Common Pension Fund D lowered its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 23.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,073 shares of the company’s stock after selling 11,987 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Red Rock Resorts were worth $2,091,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Covestor Ltd boosted its position in Red Rock Resorts by 16,666.7% during the 1st quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $30,000 after acquiring an additional 500 shares in the last quarter. Headlands Technologies LLC bought a new stake in Red Rock Resorts during the first quarter valued at about $78,000. nVerses Capital LLC bought a new stake in Red Rock Resorts during the second quarter valued at about $154,000. SG Americas Securities LLC purchased a new position in Red Rock Resorts in the first quarter valued at about $236,000. Finally, Virtu Financial LLC purchased a new position in shares of Red Rock Resorts in the 4th quarter worth approximately $212,000. 47.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RRR has been the topic of several analyst reports. Stifel Nicolaus lifted their price target on shares of Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Morgan Stanley boosted their target price on Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. Susquehanna increased their price target on Red Rock Resorts from $63.00 to $70.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Wells Fargo & Company downgraded Red Rock Resorts from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $63.00 to $64.00 in a report on Wednesday, July 24th. Finally, Macquarie upped their price objective on shares of Red Rock Resorts from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Six 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.50.

Insider Buying and Selling at Red Rock Resorts

In related news, COO Kord Nichols sold 49,464 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $58.00, for a total transaction of $2,868,912.00. Following the sale, the chief operating officer now owns 71,946 shares in the company, valued at $4,172,868. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Red Rock Resorts news, COO Kord Nichols sold 49,464 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $58.00, for a total value of $2,868,912.00. Following the sale, the chief operating officer now directly owns 71,946 shares of the company’s stock, valued at $4,172,868. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Lorenzo J. Fertitta purchased 33,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $49.77 per share, for a total transaction of $1,642,410.00. Following 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 ninety days, insiders purchased 200,000 shares of company stock valued at $10,426,000. 53.28% of the stock is owned by company insiders.

Red Rock Resorts Stock Down 1.5 %

RRR stock opened at $53.41 on Friday. The company has a market capitalization of $5.64 billion, a P/E ratio of 18.55, a price-to-earnings-growth ratio of 5.36 and a beta of 2.04. Red Rock Resorts, Inc. has a 12 month low of $37.82 and a 12 month high of $63.28. The firm’s fifty day simple moving average is $56.01 and its 200-day simple moving average is $55.30. The company has a debt-to-equity ratio of 15.15, a current ratio of 0.94 and a quick ratio of 0.89.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.43 by $0.16. The company had revenue of $486.40 million for the quarter, compared to analyst estimates of $475.80 million. Red Rock Resorts had a net margin of 9.21% and a return on equity of 83.84%. The firm’s revenue was up 16.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.65 earnings per share. As a group, equities research analysts forecast that Red Rock Resorts, Inc. will post 1.61 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Monday, September 16th. Red Rock Resorts’s dividend payout ratio is currently 34.72%.

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.