Red Rock Resorts, Inc. (NASDAQ:RRR) Shares Sold by AlphaQuest LLC

AlphaQuest LLC lowered its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 72.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,243 shares of the company’s stock after selling 13,647 shares during the period. AlphaQuest LLC’s holdings in Red Rock Resorts were worth $242,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Arizona State Retirement System boosted its stake in Red Rock Resorts by 1.5% during the 4th quarter. Arizona State Retirement System now owns 14,707 shares of the company’s stock worth $680,000 after purchasing an additional 216 shares during the period. Avior Wealth Management LLC raised its holdings in shares of Red Rock Resorts by 3.0% in the third quarter. Avior Wealth Management LLC now owns 7,898 shares of the company’s stock valued at $430,000 after buying an additional 232 shares during the last quarter. KBC Group NV boosted its stake in shares of Red Rock Resorts by 37.1% during the fourth quarter. KBC Group NV now owns 1,996 shares of the company’s stock worth $92,000 after buying an additional 540 shares during the period. Mayfair Advisory Group LLC grew its holdings in shares of Red Rock Resorts by 15.1% during the fourth quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock worth $208,000 after buying an additional 591 shares during the last quarter. Finally, King Luther Capital Management Corp increased its position in Red Rock Resorts by 1.2% in the 3rd quarter. King Luther Capital Management Corp now owns 64,043 shares of the company’s stock valued at $3,487,000 after acquiring an additional 765 shares during the period. 47.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on RRR. Susquehanna increased their price objective on Red Rock Resorts from $60.00 to $61.00 and gave the stock a “positive” rating in a research report on Wednesday, February 12th. Jefferies Financial Group reiterated a “hold” rating and issued a $51.00 price objective (down from $64.00) on shares of Red Rock Resorts in a research report on Friday, January 3rd. Mizuho raised their target price on shares of Red Rock Resorts from $44.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Stifel Nicolaus boosted their price target on shares of Red Rock Resorts from $50.00 to $54.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. Finally, JMP Securities reduced their price objective on shares of Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating for the company in a research report on Thursday, January 16th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $57.33.

Red Rock Resorts Stock Performance

RRR opened at $45.04 on Friday. Red Rock Resorts, Inc. has a 1-year low of $42.33 and a 1-year high of $63.29. The stock has a market cap of $4.78 billion, a P/E ratio of 17.94, a P/E/G ratio of 4.32 and a beta of 2.01. The stock’s 50 day simple moving average is $48.06 and its 200 day simple moving average is $50.43. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96.

Red Rock Resorts (NASDAQ:RRR) last posted its earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. As a group, equities analysts anticipate that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Monday, March 17th. Red Rock Resorts’s payout ratio is currently 39.84%.

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.