MQS Management LLC Takes $392,000 Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

MQS Management LLC purchased a new position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,199 shares of the company’s stock, valued at approximately $392,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Truist Financial Corp lifted its position in shares of Red Rock Resorts by 0.9% during the second quarter. Truist Financial Corp now owns 27,545 shares of the company’s stock worth $1,513,000 after purchasing an additional 241 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in Red Rock Resorts by 3.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 8,042 shares of the company’s stock valued at $442,000 after buying an additional 292 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Red Rock Resorts by 3.3% during the second quarter. Arizona State Retirement System now owns 14,086 shares of the company’s stock valued at $774,000 after acquiring an additional 444 shares in the last quarter. WCG Wealth Advisors LLC grew its stake in shares of Red Rock Resorts by 2.5% during the second quarter. WCG Wealth Advisors LLC now owns 18,325 shares of the company’s stock valued at $1,007,000 after acquiring an additional 450 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of Red Rock Resorts by 16,666.7% during the first quarter. Covestor Ltd now owns 503 shares of the company’s stock worth $30,000 after acquiring an additional 500 shares during the last quarter. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RRR. Susquehanna raised their price objective on Red Rock Resorts from $63.00 to $70.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Truist Financial decreased their price target on shares of Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. Wells Fargo & Company cut their price target on shares of Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Stifel Nicolaus boosted their target price on shares of Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Finally, Macquarie reduced their price target 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. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.50.

Red Rock Resorts Stock Performance

Shares of RRR opened at $51.28 on Thursday. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.89. The firm’s 50 day moving average is $53.38 and its 200-day moving average is $53.81. Red Rock Resorts, Inc. has a 12-month low of $42.80 and a 12-month high of $63.28. The stock has a market capitalization of $5.42 billion, a P/E ratio of 18.99, a P/E/G ratio of 6.52 and a beta of 2.04.

Red Rock Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.95%. Red Rock Resorts’s dividend payout ratio (DPR) is 37.04%.

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.