Creative Planning Acquires 3,127 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Creative Planning increased its holdings in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 19.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,029 shares of the company’s stock after purchasing an additional 3,127 shares during the period. Creative Planning’s holdings in Red Rock Resorts were worth $1,036,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Truist Financial Corp lifted its stake in Red Rock Resorts by 0.9% in the 2nd quarter. Truist Financial Corp now owns 27,545 shares of the company’s stock valued at $1,513,000 after acquiring an additional 241 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Red Rock Resorts by 3.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 8,042 shares of the company’s stock valued at $442,000 after acquiring an additional 292 shares in the last quarter. Arizona State Retirement System lifted its stake in Red Rock Resorts by 3.3% in the 2nd quarter. Arizona State Retirement System now owns 14,086 shares of the company’s stock valued at $774,000 after acquiring an additional 444 shares in the last quarter. WCG Wealth Advisors LLC lifted its stake in Red Rock Resorts by 2.5% in the 2nd quarter. WCG Wealth Advisors LLC now owns 18,325 shares of the company’s stock valued at $1,007,000 after acquiring an additional 450 shares in the last quarter. Finally, Covestor Ltd lifted its stake in Red Rock Resorts by 16,666.7% in 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. Institutional investors own 47.84% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on RRR shares. Barclays boosted their price target on Red Rock Resorts from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Truist Financial lowered their price target on Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. Susquehanna boosted their price target on Red Rock Resorts from $63.00 to $70.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. Stifel Nicolaus boosted their price target on Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $65.00 price target on shares of Red Rock Resorts in a research report on Monday, October 14th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.58.

Red Rock Resorts Stock Down 3.1 %

RRR stock opened at $51.46 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 15.15. The firm has a market capitalization of $5.43 billion, a PE ratio of 17.87, a PEG ratio of 5.54 and a beta of 2.04. Red Rock Resorts, Inc. has a 1-year low of $37.82 and a 1-year high of $63.28. The business’s 50 day simple moving average is $54.12 and its 200 day simple moving average is $54.18.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $486.40 million for the quarter, compared to analyst estimates of $475.80 million. During the same period in the prior year, the firm posted $0.65 EPS. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. As a group, research analysts anticipate that Red Rock Resorts, Inc. will post 1.63 EPS for the current year.

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 on Monday, August 5th. The shares were purchased at an average cost of $49.77 per share, with a total value of $3,334,590.00. Following the acquisition, the chief executive officer now directly owns 46,048,301 shares in the company, valued at $2,291,823,940.77. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Frank J. Fertitta III acquired 67,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $49.77 per share, with a total value of $3,334,590.00. Following the acquisition, the chief executive officer now directly owns 46,048,301 shares in the company, valued at $2,291,823,940.77. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Lorenzo J. Fertitta acquired 33,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $49.77 per share, for a total transaction of $1,642,410.00. Following the completion of the acquisition, the vice president now owns 47,546,301 shares in the company, valued at approximately $2,366,379,400.77. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 53.28% of the company’s stock.

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.