UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in Red Rock Resorts, Inc. (NASDAQ:RRR) by 12.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 108,350 shares of the company’s stock after selling 14,808 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.10% of Red Rock Resorts worth $5,899,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Long Pond Capital LP acquired a new stake in shares of Red Rock Resorts during the second quarter worth about $21,987,000. Eminence Capital LP grew its position in shares of Red Rock Resorts by 23.7% during the second quarter. Eminence Capital LP now owns 1,952,754 shares of the company’s stock worth $107,265,000 after acquiring an additional 374,128 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Red Rock Resorts by 4,050.3% during the third quarter. Sequoia Financial Advisors LLC now owns 333,769 shares of the company’s stock worth $18,170,000 after acquiring an additional 325,727 shares during the last quarter. Hantz Financial Services Inc. purchased a new position in Red Rock Resorts in the 2nd quarter valued at $14,384,000. Finally, Vaughan Nelson Investment Management L.P. grew its position in Red Rock Resorts by 26.7% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company’s stock valued at $65,706,000 after buying an additional 251,855 shares during the last quarter. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on RRR shares. JMP Securities reissued a “market outperform” rating and issued a $65.00 target price on shares of Red Rock Resorts in a report on Monday, October 14th. Barclays lowered their price target 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. Morgan Stanley boosted 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. Wells Fargo & Company decreased their target price on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. Finally, Mizuho lowered Red Rock Resorts from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $57.00 to $44.00 in a research report on Monday, November 25th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.42.

Red Rock Resorts Stock Performance

RRR stock opened at $49.36 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. The firm has a market cap of $5.21 billion, a P/E ratio of 18.28, a P/E/G ratio of 6.69 and a beta of 2.01. Red Rock Resorts, Inc. has a 12-month low of $46.19 and a 12-month high of $63.28. The stock’s 50 day simple moving average is $51.82 and its 200 day simple moving average is $53.60.

Red Rock Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 2.03%. Red Rock Resorts’s payout ratio is currently 37.04%.

About Red Rock Resorts

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.