Oppenheimer Asset Management Inc. lifted its holdings in shares of Red Rock Resorts Inc (NASDAQ:RRR) by 24.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,030 shares of the company’s stock after purchasing an additional 5,116 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Red Rock Resorts were worth $694,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Rhumbline Advisers increased its stake in shares of Red Rock Resorts by 6.1% during the 2nd quarter. Rhumbline Advisers now owns 67,416 shares of the company’s stock worth $2,258,000 after purchasing an additional 3,862 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Red Rock Resorts by 5.2% during the 3rd quarter. First Trust Advisors LP now owns 83,235 shares of the company’s stock worth $2,218,000 after buying an additional 4,093 shares during the period. Legal & General Group Plc boosted its holdings in shares of Red Rock Resorts by 29.8% during the 1st quarter. Legal & General Group Plc now owns 25,800 shares of the company’s stock worth $756,000 after buying an additional 5,924 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Red Rock Resorts by 26.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 31,219 shares of the company’s stock worth $833,000 after buying an additional 6,579 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in shares of Red Rock Resorts during the 2nd quarter worth $226,000. Institutional investors own 61.16% of the company’s stock.
NASDAQ RRR opened at $24.33 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.67 and a debt-to-equity ratio of 3.23. The firm has a market cap of $2.90 billion, a P/E ratio of 39.24 and a beta of 1.65. Red Rock Resorts Inc has a 1 year low of $21.20 and a 1 year high of $36.99.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 14th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Thursday, December 13th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 64.52%.
Several analysts recently issued reports on RRR shares. Zacks Investment Research downgraded shares of Red Rock Resorts from a “hold” rating to a “sell” rating in a report on Friday, October 5th. BidaskClub downgraded shares of Red Rock Resorts from a “hold” rating to a “sell” rating in a report on Friday, September 7th. SunTrust Banks reaffirmed a “buy” rating and set a $38.00 price objective on shares of Red Rock Resorts in a report on Thursday, August 16th. TheStreet downgraded shares of Red Rock Resorts from a “b-” rating to a “c” rating in a report on Monday, September 24th. Finally, ValuEngine downgraded shares of Red Rock Resorts from a “buy” rating to a “hold” rating in a report on Friday, September 7th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $35.30.
ILLEGAL ACTIVITY NOTICE: “Oppenheimer Asset Management Inc. Has $694,000 Stake in Red Rock Resorts Inc (RRR)” was published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark and copyright legislation. The legal version of this piece can be viewed at https://www.dispatchtribunal.com/2018/11/07/oppenheimer-asset-management-inc-has-694000-stake-in-red-rock-resorts-inc-rrr.html.
Red Rock Resorts 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.
Recommended Story: How are institutional investors different from individual investors?
Want to see what other hedge funds are holding RRR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Red Rock Resorts Inc (NASDAQ:RRR).
Receive News & Ratings for Red Rock Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Rock Resorts and related companies with MarketBeat.com's FREE daily email newsletter.