King Luther Capital Management Corp Boosts Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

King Luther Capital Management Corp grew its position in Red Rock Resorts, Inc. (NASDAQ:RRR) by 9.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,132 shares of the company’s stock after purchasing an additional 6,089 shares during the quarter. King Luther Capital Management Corp owned about 0.07% of Red Rock Resorts worth $3,243,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. OFI Invest Asset Management purchased a new position in Red Rock Resorts during the 4th quarter worth $2,054,000. Edgestream Partners L.P. boosted its holdings in Red Rock Resorts by 188.6% in the fourth quarter. Edgestream Partners L.P. now owns 63,944 shares of the company’s stock worth $2,957,000 after acquiring an additional 41,790 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Red Rock Resorts during the fourth quarter worth about $292,000. Arizona State Retirement System increased its holdings in shares of Red Rock Resorts by 1.5% during the fourth quarter. Arizona State Retirement System now owns 14,707 shares of the company’s stock valued at $680,000 after acquiring an additional 216 shares in the last quarter. Finally, Ring Mountain Capital LLC purchased a new position in shares of Red Rock Resorts in the 4th quarter valued at approximately $487,000. 47.84% of the stock is owned by institutional investors and hedge funds.

Red Rock Resorts Stock Up 2.3 %

Red Rock Resorts stock opened at $44.14 on Thursday. The business’s 50-day moving average price is $48.10 and its 200 day moving average price is $50.60. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of 17.59, a price-to-earnings-growth ratio of 4.32 and a beta of 2.01. Red Rock Resorts, Inc. has a 52 week low of $42.33 and a 52 week high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. As a group, sell-side analysts anticipate that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 dividend on an annualized basis and a yield of 2.27%. Red Rock Resorts’s payout ratio is 39.84%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on RRR shares. Susquehanna boosted their target price on shares of Red Rock Resorts from $60.00 to $61.00 and gave the stock a “positive” rating in a research report on Wednesday, February 12th. JMP Securities dropped their price objective on shares of Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating on the stock in a report on Thursday, January 16th. Stifel Nicolaus upped their target price on Red Rock Resorts from $50.00 to $54.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. Truist Financial lowered their price target on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. 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 report on Friday, January 3rd. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.