State Street Corp Sells 5,614 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

State Street Corp lessened its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,126,741 shares of the company’s stock after selling 5,614 shares during the period. State Street Corp owned about 1.07% of Red Rock Resorts worth $61,340,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in RRR. Bamco Inc. NY increased its position in Red Rock Resorts by 1.0% in the third quarter. Bamco Inc. NY now owns 10,623,284 shares of the company’s stock worth $578,332,000 after buying an additional 106,509 shares in the last quarter. Eminence Capital LP increased its holdings in Red Rock Resorts by 23.7% in the 2nd 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 in the last quarter. Westfield Capital Management Co. LP raised its stake in Red Rock Resorts by 3.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,134,509 shares of the company’s stock worth $61,763,000 after acquiring an additional 38,443 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Red Rock Resorts by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 577,108 shares of the company’s stock valued at $31,418,000 after purchasing an additional 4,810 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Red Rock Resorts by 6.6% in the second quarter. Bank of New York Mellon Corp now owns 404,153 shares of the company’s stock worth $22,200,000 after purchasing an additional 24,992 shares during the period. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on RRR. JMP Securities restated a “market outperform” rating and set a $65.00 price objective on shares of Red Rock Resorts in a research report on Monday, October 14th. Macquarie decreased their price target 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. Morgan Stanley upped their price objective on Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note 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 on the stock in a research note on Thursday, October 17th. Finally, Barclays dropped their price target on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Red Rock Resorts has a consensus rating of “Moderate Buy” and a consensus price target of $60.42.

Red Rock Resorts Stock Down 5.1 %

Shares of NASDAQ:RRR opened at $45.62 on Thursday. The company has a market cap of $4.82 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 6.69 and a beta of 2.00. Red Rock Resorts, Inc. has a 12 month low of $45.33 and a 12 month high of $63.28. 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 company has a 50-day moving average price of $51.16 and a 200 day moving average price of $53.53.

Red Rock Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Monday, December 16th. Red Rock Resorts’s payout ratio is 37.04%.

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.