Semanteon Capital Management LP Takes $1.48 Million Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

Semanteon Capital Management LP bought a new stake in Red Rock Resorts, Inc. (NASDAQ:RRR) during the fourth quarter, HoldingsChannel.com reports. The fund bought 31,977 shares of the company’s stock, valued at approximately $1,479,000. Red Rock Resorts comprises 0.8% of Semanteon Capital Management LP’s investment portfolio, making the stock its 8th largest position.

Several other hedge funds have also recently added to or reduced their stakes in the business. Quarry LP grew its stake in shares of Red Rock Resorts by 479.4% in the 3rd quarter. Quarry LP now owns 1,124 shares of the company’s stock valued at $61,000 after purchasing an additional 930 shares during the period. KBC Group NV boosted its stake in Red Rock Resorts by 37.1% in the 4th quarter. KBC Group NV now owns 1,996 shares of the company’s stock valued at $92,000 after buying an additional 540 shares in the last quarter. Mayfair Advisory Group LLC grew its position in Red Rock Resorts by 15.1% in the fourth quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock valued at $208,000 after acquiring an additional 591 shares during the period. Cibc World Markets Corp acquired a new position in Red Rock Resorts during the fourth quarter worth $213,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Red Rock Resorts during the third quarter valued at $233,000. Institutional investors and hedge funds own 47.84% of the company’s stock.

Wall Street Analyst Weigh In

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

Red Rock Resorts Stock Performance

RRR stock opened at $44.93 on Friday. The company has a 50 day moving average price of $48.10 and a 200 day moving average price of $50.13. Red Rock Resorts, Inc. has a fifty-two week low of $42.33 and a fifty-two week high of $63.29. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. The stock has a market capitalization of $4.76 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 4.32 and a beta of 2.01.

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

Red Rock Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Monday, March 17th. Red Rock Resorts’s dividend payout ratio is 39.84%.

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.