US Bancorp DE Grows Stake in Red Rock Resorts, Inc. (NASDAQ:RRR)

US Bancorp DE boosted its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 2,223.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,557 shares of the company’s stock after acquiring an additional 1,490 shares during the quarter. US Bancorp DE’s holdings in Red Rock Resorts were worth $85,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Covestor Ltd boosted its position in shares of 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 purchasing an additional 500 shares during the period. Point72 DIFC Ltd bought a new position in Red Rock Resorts in the 2nd quarter worth $98,000. nVerses Capital LLC bought a new position in Red Rock Resorts in the 2nd quarter worth $154,000. Mayfair Advisory Group LLC purchased a new stake in Red Rock Resorts in the 3rd quarter worth $218,000. Finally, Ritholtz Wealth Management bought a new stake in Red Rock Resorts during the third quarter valued at about $215,000. Institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Price Performance

Red Rock Resorts stock opened at $50.84 on Friday. Red Rock Resorts, Inc. has a 52 week low of $43.08 and a 52 week high of $63.28. The company has a quick ratio of 0.89, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The firm’s 50-day simple moving average is $53.15 and its 200 day simple moving average is $53.76. The firm has a market capitalization of $5.37 billion, a PE ratio of 18.83, a P/E/G ratio of 6.38 and a beta of 2.04.

Red Rock Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Monday, December 16th. Red Rock Resorts’s payout ratio is 37.04%.

Analysts Set New Price Targets

RRR has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price target on Red Rock Resorts from $62.00 to $69.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Barclays dropped their target price on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Mizuho reiterated an “outperform” rating and issued a $57.00 price target (down from $67.00) on shares of Red Rock Resorts in a report on Tuesday, November 12th. Truist Financial dropped their price objective on shares of Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. Finally, Macquarie reduced their target price on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $61.50.

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.