Red Rock Resorts, Inc. (NASDAQ:RRR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position in Red Rock Resorts, Inc. (NASDAQ:RRR) by 30.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,943 shares of the company’s stock after selling 1,709 shares during the period. Principal Financial Group Inc.’s holdings in Red Rock Resorts were worth $215,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Red Rock Resorts by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 5,136,942 shares of the company’s stock worth $307,292,000 after purchasing an additional 209,593 shares in the last quarter. Eminence Capital LP boosted its holdings in shares of Red Rock Resorts by 23.7% during the 2nd quarter. Eminence Capital LP now owns 1,952,754 shares of the company’s stock worth $107,265,000 after buying an additional 374,128 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in Red Rock Resorts by 26.7% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company’s stock valued at $65,706,000 after acquiring an additional 251,855 shares during the period. Bank of New York Mellon Corp grew its holdings in Red Rock Resorts by 6.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 404,153 shares of the company’s stock valued at $22,200,000 after buying an additional 24,992 shares during the last quarter. Finally, Long Pond Capital LP acquired a new stake in shares of Red Rock Resorts in the second quarter worth $21,987,000. 47.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on RRR shares. JMP Securities reissued a “market outperform” rating and issued a $65.00 price target on shares of Red Rock Resorts in a report on Monday, October 14th. Macquarie decreased their target price on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Wells Fargo & Company cut their price target 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. Barclays decreased their price objective on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Finally, Morgan Stanley upped their target price on Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 4th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Red Rock Resorts has an average rating of “Moderate Buy” and a consensus target price of $60.42.

Red Rock Resorts Price Performance

NASDAQ:RRR opened at $50.49 on Tuesday. Red Rock Resorts, Inc. has a 12 month low of $43.38 and a 12 month high of $63.28. The company’s 50-day moving average price is $52.71 and its two-hundred day moving average price is $53.64. 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 firm has a market cap of $5.33 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 6.30 and a beta of 2.04.

Red Rock Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.98%. Red Rock Resorts’s dividend payout ratio is 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.