Bamco Inc. NY lessened its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR) by 1.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,946,758 shares of the company’s stock after selling 127,977 shares during the quarter. Red Rock Resorts comprises 1.1% of Bamco Inc. NY’s portfolio, making the stock its 22nd largest position. Bamco Inc. NY owned approximately 6.84% of Red Rock Resorts worth $232,681,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Red Rock Resorts by 763.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,964 shares of the company’s stock valued at $134,000 after buying an additional 3,505 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Red Rock Resorts by 86.0% during the first quarter. SG Americas Securities LLC now owns 5,640 shares of the company’s stock valued at $165,000 after buying an additional 2,607 shares during the last quarter. Verity Asset Management Inc. purchased a new stake in shares of Red Rock Resorts during the fourth quarter valued at approximately $211,000. Guggenheim Capital LLC purchased a new stake in shares of Red Rock Resorts during the fourth quarter valued at approximately $224,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of Red Rock Resorts during the first quarter valued at approximately $270,000. Institutional investors and hedge funds own 63.58% of the company’s stock.
Shares of RRR stock opened at $34.80 on Friday. Red Rock Resorts, Inc. has a 12-month low of $33.67 and a 12-month high of $34.34. The company has a debt-to-equity ratio of 3.67, a quick ratio of 1.04 and a current ratio of 1.09. The company has a market capitalization of $3.94 billion, a P/E ratio of 56.13 and a beta of 1.54.
Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Tuesday, February 27th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.07. Red Rock Resorts had a net margin of 4.11% and a return on equity of 16.46%. The company had revenue of $394.02 million for the quarter, compared to analysts’ expectations of $406.75 million. equities analysts predict that Red Rock Resorts, Inc. will post 1.29 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, June 14th. Red Rock Resorts’s dividend payout ratio is currently 64.52%.
A number of equities research analysts have recently commented on RRR shares. ValuEngine upgraded shares of Red Rock Resorts from a “hold” rating to a “buy” rating in a report on Saturday, February 17th. Nomura began coverage on shares of Red Rock Resorts in a report on Tuesday, May 8th. They set a “buy” rating and a $39.00 price target on the stock. Citigroup dropped their target price on shares of Red Rock Resorts from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, May 2nd. BidaskClub upgraded shares of Red Rock Resorts from a “sell” rating to a “hold” rating in a report on Tuesday, April 24th. Finally, Zacks Investment Research upgraded shares of Red Rock Resorts from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. Red Rock Resorts presently has an average rating of “Hold” and an average target price of $34.00.
Red Rock Resorts Company Profile
Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.
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