Rockingstone Advisors LLC Sells 210 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Rockingstone Advisors LLC lessened its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR) by 4.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,755 shares of the company’s stock after selling 210 shares during the quarter. Rockingstone Advisors LLC’s holdings in Red Rock Resorts were worth $259,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Edgestream Partners L.P. purchased a new position in shares of Red Rock Resorts in the first quarter valued at about $1,238,000. BNP Paribas Financial Markets increased its holdings in Red Rock Resorts by 35.5% during the 1st quarter. BNP Paribas Financial Markets now owns 32,080 shares of the company’s stock valued at $1,919,000 after purchasing an additional 8,402 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in Red Rock Resorts by 24.9% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 944,340 shares of the company’s stock valued at $56,491,000 after purchasing an additional 188,095 shares during the last quarter. Nicholas Investment Partners LP purchased a new stake in Red Rock Resorts in the 2nd quarter worth approximately $5,336,000. Finally, Lisanti Capital Growth LLC bought a new stake in shares of Red Rock Resorts in the 1st quarter worth approximately $2,260,000. 47.84% of the stock is owned by institutional investors.

Red Rock Resorts Stock Performance

Shares of RRR opened at $52.62 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 15.15. The stock has a market cap of $5.56 billion, a P/E ratio of 18.27, a P/E/G ratio of 5.71 and a beta of 2.04. The business’s 50 day moving average price is $54.82 and its 200-day moving average price is $55.07. 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 released its earnings results on Tuesday, July 23rd. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.43 by $0.16. Red Rock Resorts had a return on equity of 83.84% and a net margin of 9.21%. The business had revenue of $486.40 million for the quarter, compared to the consensus estimate of $475.80 million. During the same period in the previous year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was up 16.9% compared to the same quarter last year. Equities research analysts anticipate that Red Rock Resorts, Inc. will post 1.66 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.90%. The ex-dividend date was Monday, September 16th. Red Rock Resorts’s dividend payout ratio (DPR) is 34.72%.

Insider Buying and Selling at Red Rock Resorts

In other news, CEO Frank J. Fertitta III acquired 67,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average cost of $54.49 per share, for a total transaction of $3,650,830.00. Following the acquisition, the chief executive officer now directly owns 45,914,301 shares in the company, valued at approximately $2,501,870,261.49. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other Red Rock Resorts news, CEO Frank J. Fertitta III purchased 67,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were purchased at an average cost of $54.49 per share, with a total value of $3,650,830.00. Following the completion of the acquisition, the chief executive officer now directly owns 45,914,301 shares in the company, valued at $2,501,870,261.49. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Lorenzo J. Fertitta acquired 33,000 shares of Red Rock Resorts stock in a transaction that occurred on Thursday, August 1st. The stock was acquired at an average price of $54.49 per share, with a total value of $1,798,170.00. Following the completion of the acquisition, the vice president now directly owns 47,480,301 shares in the company, valued at $2,587,201,601.49. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 200,000 shares of company stock worth $10,426,000. 53.28% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wells Fargo & Company downgraded Red Rock Resorts from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $63.00 to $64.00 in a report on Wednesday, July 24th. Truist Financial decreased their price objective on shares of Red Rock Resorts from $64.00 to $63.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Barclays lifted their target price on shares of Red Rock Resorts from $63.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Susquehanna increased their price target on shares of Red Rock Resorts from $63.00 to $70.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. Finally, Stifel Nicolaus raised their price objective 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. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.