Red Rock Resorts, Inc. (NASDAQ:RRR) Shares Bought by King Luther Capital Management Corp

King Luther Capital Management Corp grew its position in Red Rock Resorts, Inc. (NASDAQ:RRR) by 1.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,043 shares of the company’s stock after buying an additional 765 shares during the quarter. King Luther Capital Management Corp’s holdings in Red Rock Resorts were worth $3,487,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Covestor Ltd lifted its holdings in Red Rock Resorts by 16,666.7% during the 1st quarter. Covestor Ltd now owns 503 shares of the company’s stock worth $30,000 after buying an additional 500 shares in the last quarter. US Bancorp DE boosted its holdings in Red Rock Resorts by 2,223.9% in the third 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 period. Point72 DIFC Ltd acquired a new position in Red Rock Resorts during the 2nd quarter worth $98,000. nVerses Capital LLC purchased a new stake in Red Rock Resorts during the 2nd quarter worth about $154,000. Finally, Ritholtz Wealth Management acquired a new stake in Red Rock Resorts in the 3rd quarter valued at about $215,000. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Price Performance

Shares of NASDAQ RRR opened at $50.85 on Friday. The stock has a market cap of $5.37 billion, a P/E ratio of 18.83, a P/E/G ratio of 6.16 and a beta of 2.04. Red Rock Resorts, Inc. has a twelve month low of $43.38 and a twelve month high of $63.28. The stock has a 50 day moving average of $52.76 and a two-hundred day moving average of $53.62. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28.

Red Rock Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Monday, December 16th. Red Rock Resorts’s dividend payout ratio is currently 37.04%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Mizuho reissued an “outperform” rating and set a $57.00 price objective (down from $67.00) on shares of Red Rock Resorts in a research report on Tuesday, November 12th. Macquarie dropped their price objective on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Wells Fargo & Company decreased their price objective on shares of Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Barclays dropped their target price on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Finally, Truist Financial decreased their price target on Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.50.

Red Rock Resorts Company 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.