Red Rock Resorts, Inc. (NASDAQ:RRR) Shares Bought by Creative Planning

Creative Planning increased its stake in Red Rock Resorts, Inc. (NASDAQ:RRR) by 5.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,902 shares of the company’s stock after acquiring an additional 886 shares during the period. Creative Planning’s holdings in Red Rock Resorts were worth $873,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Sequoia Financial Advisors LLC boosted its stake in Red Rock Resorts by 3.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 8,042 shares of the company’s stock valued at $442,000 after purchasing an additional 292 shares in the last quarter. Arizona State Retirement System boosted its stake in Red Rock Resorts by 3.3% during the second quarter. Arizona State Retirement System now owns 14,086 shares of the company’s stock valued at $774,000 after buying an additional 444 shares in the last quarter. WCG Wealth Advisors LLC grew its holdings in Red Rock Resorts by 2.5% during the second quarter. WCG Wealth Advisors LLC now owns 18,325 shares of the company’s stock worth $1,007,000 after acquiring an additional 450 shares during the period. Covestor Ltd raised its position in Red Rock Resorts by 16,666.7% in the first quarter. Covestor Ltd now owns 503 shares of the company’s stock worth $30,000 after acquiring an additional 500 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in Red Rock Resorts by 8.5% in the first quarter. ProShare Advisors LLC now owns 8,559 shares of the company’s stock worth $512,000 after acquiring an additional 674 shares in the last quarter. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Price Performance

Shares of RRR opened at $52.54 on Friday. The business’s 50-day moving average is $54.69 and its 200-day moving average is $54.99. The company has a debt-to-equity ratio of 15.15, a current ratio of 0.94 and a quick ratio of 0.89. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 18.63, a P/E/G ratio of 5.48 and a beta of 2.04. Red Rock Resorts, Inc. has a fifty-two week low of $37.82 and a fifty-two week high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last released 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 firm 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 company’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. Equities research analysts expect that Red Rock Resorts, Inc. will post 1.66 EPS 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. The ex-dividend date was Monday, September 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.90%. Red Rock Resorts’s payout ratio is 35.46%.

Insider Buying and Selling at Red Rock Resorts

In other news, VP Lorenzo J. Fertitta purchased 33,000 shares of Red Rock Resorts stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $49.77 per share, for a total transaction of $1,642,410.00. Following the acquisition, the vice president now directly owns 47,546,301 shares in the company, valued at $2,366,379,400.77. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Red Rock Resorts news, COO Kord Nichols sold 49,464 shares of the 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 transaction, the chief operating officer now directly owns 71,946 shares of the company’s stock, valued at $4,172,868. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Lorenzo J. Fertitta purchased 33,000 shares of Red Rock Resorts stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $49.77 per share, with a total value of $1,642,410.00. Following the transaction, the vice president now directly owns 47,546,301 shares of the company’s stock, valued at approximately $2,366,379,400.77. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 200,000 shares of company stock worth $10,426,000 over the last 90 days. 53.28% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RRR shares. JPMorgan Chase & Co. lifted their price objective on shares of Red Rock Resorts from $62.00 to $69.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Susquehanna lifted 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 report on Wednesday, July 24th. Macquarie increased their price objective on Red Rock Resorts from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Morgan Stanley lifted their target price on Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 4th. Finally, Stifel Nicolaus upped their target price on Red Rock Resorts from $59.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Five investment 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 presently has a consensus 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.