Bank of New York Mellon Corp Grows Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

Bank of New York Mellon Corp boosted its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR) by 8.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 397,771 shares of the company’s stock after purchasing an additional 31,858 shares during the quarter. Bank of New York Mellon Corp owned about 0.38% of Red Rock Resorts worth $18,393,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of RRR. US Bancorp DE raised its position in Red Rock Resorts by 2,223.9% during the 3rd quarter. US Bancorp DE now owns 1,557 shares of the company’s stock worth $85,000 after buying an additional 1,490 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Red Rock Resorts in the 3rd quarter valued at about $842,000. Crystal Rock Capital Management increased its holdings in shares of Red Rock Resorts by 19.1% in the 3rd quarter. Crystal Rock Capital Management now owns 54,200 shares of the company’s stock valued at $2,951,000 after purchasing an additional 8,700 shares in the last quarter. MQS Management LLC purchased a new position in shares of Red Rock Resorts in the 3rd quarter valued at about $392,000. Finally, Quest Partners LLC purchased a new position in shares of Red Rock Resorts in the 3rd quarter valued at about $1,028,000. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Price Performance

Red Rock Resorts stock opened at $43.13 on Wednesday. Red Rock Resorts, Inc. has a 12-month low of $42.33 and a 12-month high of $63.28. The stock has a market capitalization of $4.57 billion, a P/E ratio of 17.18, a P/E/G ratio of 4.32 and a beta of 2.01. The firm’s 50-day moving average is $48.14 and its two-hundred day moving average is $50.65. 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 released its quarterly earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share (EPS) for the quarter, topping 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%. Equities analysts predict that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.25 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 2.32%. Red Rock Resorts’s payout ratio is 39.84%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on RRR shares. Truist Financial cut their price target on shares of Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. Mizuho increased their price target on shares of Red Rock Resorts from $44.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. JMP Securities cut their price target on shares of Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating for the company in a report on Thursday, January 16th. Stifel Nicolaus increased their price target on shares of Red Rock Resorts from $50.00 to $54.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $51.00 price objective (down from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Red Rock Resorts has an average rating of “Hold” and an average target price of $57.33.

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.