Wells Fargo & Company MN cut its stake in Red Rock Resorts Inc (NASDAQ:RRR) by 8.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 186,088 shares of the company’s stock after selling 17,521 shares during the period. Wells Fargo & Company MN owned 0.16% of Red Rock Resorts worth $5,448,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Guggenheim Capital LLC bought a new stake in Red Rock Resorts in the fourth quarter valued at approximately $224,000. Solstein Capital LLC acquired a new position in Red Rock Resorts in the fourth quarter valued at approximately $280,000. Verition Fund Management LLC acquired a new position in Red Rock Resorts in the fourth quarter valued at approximately $342,000. Invictus RG acquired a new position in Red Rock Resorts in the fourth quarter valued at approximately $372,000. Finally, Teacher Retirement System of Texas acquired a new position in Red Rock Resorts in the fourth quarter valued at approximately $788,000. Institutional investors and hedge funds own 59.51% of the company’s stock.
Shares of Red Rock Resorts opened at $33.50 on Friday, Marketbeat reports. The company has a current ratio of 1.09, a quick ratio of 1.04 and a debt-to-equity ratio of 3.67. Red Rock Resorts Inc has a twelve month low of $21.41 and a twelve month high of $35.77. The company has a market cap of $3.82 billion, a PE ratio of 54.03 and a beta of 1.65.
Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Tuesday, May 1st. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Red Rock Resorts had a return on equity of 16.46% and a net margin of 4.11%. The company had revenue of $421.04 million for the quarter, compared to analyst estimates of $411.13 million. equities analysts predict that Red Rock Resorts Inc will post 1.29 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 29th. Stockholders of record on Friday, June 15th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Thursday, June 14th. Red Rock Resorts’s payout ratio is 64.52%.
Several equities analysts have issued reports on the company. Nomura assumed coverage on Red Rock Resorts in a research note on Tuesday, May 8th. They issued a “buy” rating and a $39.00 price target on the stock. Zacks Investment Research lowered Red Rock Resorts from a “hold” rating to a “sell” rating in a research note on Thursday, May 3rd. Citigroup dropped their price target on Red Rock Resorts from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, May 2nd. BidaskClub raised Red Rock Resorts from a “sell” rating to a “hold” rating in a research note on Tuesday, April 24th. Finally, Macquarie lowered Red Rock Resorts from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 3rd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. Red Rock Resorts presently has a consensus rating of “Hold” and an average target price of $34.00.
About Red Rock Resorts
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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