Commonwealth Equity Services LLC Raises Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

Commonwealth Equity Services LLC grew its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 184.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,509 shares of the company’s stock after acquiring an additional 8,107 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Red Rock Resorts were worth $578,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of RRR. Quarry LP increased its position in Red Rock Resorts by 479.4% during the 3rd quarter. Quarry LP now owns 1,124 shares of the company’s stock worth $61,000 after purchasing an additional 930 shares in the last quarter. KBC Group NV raised its stake in shares of Red Rock Resorts by 37.1% in the 4th quarter. KBC Group NV now owns 1,996 shares of the company’s stock valued at $92,000 after acquiring an additional 540 shares during the period. Mayfair Advisory Group LLC lifted its holdings in shares of Red Rock Resorts by 15.1% during the 4th quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock valued at $208,000 after acquiring an additional 591 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Red Rock Resorts during the 3rd quarter worth $233,000. Finally, Versor Investments LP increased its holdings in Red Rock Resorts by 52.5% in the 4th quarter. Versor Investments LP now owns 6,100 shares of the company’s stock valued at $282,000 after purchasing an additional 2,100 shares in the last quarter. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

Red Rock Resorts Stock Performance

Red Rock Resorts stock opened at $37.62 on Friday. The company has a market cap of $3.99 billion, a PE ratio of 14.99, a P/E/G ratio of 4.32 and a beta of 1.69. Red Rock Resorts, Inc. has a 12 month low of $36.02 and a 12 month high of $62.25. The company has a fifty day moving average price of $47.37 and a two-hundred day moving average price of $49.18. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.34. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. Research analysts expect that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend was Monday, March 17th. Red Rock Resorts’s dividend payout ratio (DPR) is 39.84%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RRR shares. JMP Securities decreased their target price on Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating for the company in a research report on Thursday, January 16th. Susquehanna lifted their price objective on shares of Red Rock Resorts from $60.00 to $61.00 and gave the company a “positive” rating in a research note on Wednesday, February 12th. Mizuho upped their target price on shares of Red Rock Resorts from $44.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Jefferies Financial Group reaffirmed a “hold” rating and set a $51.00 price target (down previously from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Finally, Stifel Nicolaus raised their target price on Red Rock Resorts from $50.00 to $54.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Red Rock Resorts has an average rating of “Hold” and a consensus price target of $57.33.

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.