State of New Jersey Common Pension Fund D Grows Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

State of New Jersey Common Pension Fund D boosted its holdings in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 19.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,390 shares of the company’s stock after purchasing an additional 6,969 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Red Rock Resorts were worth $1,960,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Quarry LP boosted its holdings in Red Rock Resorts by 479.4% in the 3rd quarter. Quarry LP now owns 1,124 shares of the company’s stock worth $61,000 after buying an additional 930 shares during the last quarter. US Bancorp DE raised its stake in Red Rock Resorts by 2,223.9% in the 3rd quarter. US Bancorp DE now owns 1,557 shares of the company’s stock valued at $85,000 after purchasing an additional 1,490 shares during the last quarter. KBC Group NV lifted its holdings in 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 purchasing an additional 540 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Red Rock Resorts during the 3rd quarter worth $233,000. Finally, Mayfair Advisory Group LLC lifted its stake in shares of Red Rock Resorts by 15.1% in the fourth quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock worth $208,000 after buying an additional 591 shares in the last quarter. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on RRR. Macquarie cut their price objective on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Barclays decreased their target price on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Susquehanna boosted their price objective on Red Rock Resorts from $60.00 to $61.00 and gave the company a “positive” rating in a report on Wednesday, February 12th. Jefferies Financial Group reissued a “hold” rating and issued a $51.00 price target (down previously from $64.00) on shares of Red Rock Resorts in a research report on Friday, January 3rd. Finally, Truist Financial lowered their price objective on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Red Rock Resorts presently has an average rating of “Hold” and a consensus price target of $57.33.

Red Rock Resorts Trading Down 0.6 %

Shares of Red Rock Resorts stock opened at $51.08 on Tuesday. The company has a fifty day simple moving average of $47.78 and a 200-day simple moving average of $51.21. Red Rock Resorts, Inc. has a 12-month low of $42.46 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 stock has a market cap of $5.40 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 4.32 and a beta of 2.02.

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

Red Rock Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 1.96%. Red Rock Resorts’s dividend payout ratio is presently 39.84%.

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.