Massachusetts Financial Services Co. MA Has $96.60 Million Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

Massachusetts Financial Services Co. MA lessened its stake in Red Rock Resorts, Inc. (NASDAQ:RRR) by 23.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,758,613 shares of the company’s stock after selling 532,093 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.67% of Red Rock Resorts worth $96,601,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Covestor Ltd boosted its holdings 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 valued at $30,000 after buying an additional 500 shares during the period. Headlands Technologies LLC acquired a new position in Red Rock Resorts during the first quarter worth $78,000. nVerses Capital LLC acquired a new position in Red Rock Resorts during the second quarter worth $154,000. SG Americas Securities LLC acquired a new position in Red Rock Resorts during the first quarter worth $236,000. Finally, Virtu Financial LLC acquired a new position in Red Rock Resorts during the fourth quarter worth $212,000. Institutional investors and hedge funds own 47.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Macquarie increased their target price on shares of Red Rock Resorts from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. increased their target price on shares of Red Rock Resorts from $62.00 to $69.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Wells Fargo & Company lowered shares of Red Rock Resorts from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $63.00 to $64.00 in a research report on Wednesday, July 24th. Truist Financial dropped their price target on shares of Red Rock Resorts from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. Finally, Stifel Nicolaus upped their price target on shares of Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Red Rock Resorts presently has an average rating of “Moderate Buy” and a consensus target price of $63.50.

Red Rock Resorts Price Performance

Shares of RRR opened at $53.87 on Thursday. The firm has a market capitalization of $5.69 billion, a PE ratio of 18.70, a PEG ratio of 5.35 and a beta of 2.04. The company’s 50-day moving average is $56.17 and its 200-day moving average is $55.32. Red Rock Resorts, Inc. has a fifty-two week low of $37.82 and a fifty-two week high of $63.28. The company has a debt-to-equity ratio of 15.15, a current ratio of 0.94 and a quick ratio of 0.89.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.16. The company had revenue of $486.40 million for the quarter, compared to analyst estimates of $475.80 million. Red Rock Resorts had a net margin of 9.21% and a return on equity of 83.84%. The company’s revenue was up 16.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 earnings per share. Equities analysts forecast that Red Rock Resorts, Inc. will post 1.62 EPS for the current year.

Red Rock Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Monday, September 16th. Red Rock Resorts’s dividend payout ratio is 34.72%.

Insider Buying and Selling

In other Red Rock Resorts news, VP Lorenzo J. Fertitta purchased 33,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $49.77 per share, with a total value of $1,642,410.00. Following the completion of the transaction, the vice president now owns 47,546,301 shares in the company, valued at $2,366,379,400.77. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Red Rock Resorts news, VP Lorenzo J. Fertitta purchased 33,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $49.77 per share, with a total value of $1,642,410.00. Following the completion of the transaction, the vice president now owns 47,546,301 shares in the company, valued at $2,366,379,400.77. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Kord Nichols sold 49,464 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $58.00, for a total transaction of $2,868,912.00. Following the transaction, the chief operating officer now directly owns 71,946 shares in the company, valued at $4,172,868. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 200,000 shares of company stock valued at $10,426,000. 53.28% of the stock is owned by company insiders.

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.