Charles Schwab Investment Management Inc. Has $31.42 Million Stock Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

Charles Schwab Investment Management Inc. raised its stake in Red Rock Resorts, Inc. (NASDAQ:RRR) by 0.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 577,108 shares of the company’s stock after purchasing an additional 4,810 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.55% of Red Rock Resorts worth $31,418,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. GSA Capital Partners LLP bought a new position in shares of Red Rock Resorts during the 3rd quarter worth approximately $842,000. Nicholas Investment Partners LP acquired a new stake in Red Rock Resorts during the 2nd quarter worth approximately $5,336,000. Seven Eight Capital LP lifted its holdings in Red Rock Resorts by 477.5% during the 2nd quarter. Seven Eight Capital LP now owns 28,914 shares of the company’s stock worth $1,588,000 after purchasing an additional 23,907 shares during the last quarter. Versor Investments LP acquired a new stake in Red Rock Resorts during the 2nd quarter worth approximately $588,000. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in Red Rock Resorts by 26.7% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company’s stock worth $65,706,000 after purchasing an additional 251,855 shares during the last quarter. 47.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on RRR shares. Mizuho cut Red Rock Resorts from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $57.00 to $44.00 in a report on Monday, November 25th. Macquarie dropped their price objective on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Morgan Stanley lifted their price objective on Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Wednesday, September 4th. Truist Financial dropped their price objective on 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, Barclays dropped their price objective on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.42.

Red Rock Resorts Trading Down 4.1 %

Shares of RRR stock opened at $49.64 on Wednesday. The firm has a market capitalization of $5.24 billion, a P/E ratio of 18.35, a P/E/G ratio of 7.00 and a beta of 2.00. Red Rock Resorts, Inc. has a twelve month low of $43.38 and a twelve month high of $63.28. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The stock’s fifty day simple moving average is $52.36 and its 200 day simple moving average is $53.62.

Red Rock Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 2.01%. Red Rock Resorts’s dividend payout ratio is currently 37.04%.

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.