Bank of New York Mellon Corp raised its position in Red Rock Resorts, Inc. (NASDAQ:RRR) by 25.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 484,093 shares of the company’s stock after purchasing an additional 96,673 shares during the period. Bank of New York Mellon Corp owned about 0.74% of Red Rock Resorts worth $11,400,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its holdings in shares of Red Rock Resorts by 100.9% during the 1st quarter. Fifth Third Bancorp now owns 5,022 shares of the company’s stock worth $111,000 after acquiring an additional 2,522 shares during the period. UBS Group AG lifted its holdings in shares of Red Rock Resorts by 340.6% during the 1st quarter. UBS Group AG now owns 8,698 shares of the company’s stock worth $193,000 after acquiring an additional 6,724 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Red Rock Resorts by 29.8% during the 1st quarter. SG Americas Securities LLC now owns 11,177 shares of the company’s stock worth $248,000 after acquiring an additional 2,568 shares during the period. PEAK6 Investments L.P. purchased a new position in shares of Red Rock Resorts during the 1st quarter worth about $288,000. Finally, American International Group Inc. lifted its holdings in shares of Red Rock Resorts by 7.2% during the 1st quarter. American International Group Inc. now owns 18,529 shares of the company’s stock worth $411,000 after acquiring an additional 1,241 shares during the period. Institutional investors own 62.52% of the company’s stock.

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Several research analysts have recently weighed in on the stock. Bank of America Corporation reiterated a “buy” rating and set a $26.00 price objective (up from $24.50) on shares of Red Rock Resorts in a report on Monday, June 5th. ValuEngine upgraded shares of Red Rock Resorts from a “hold” rating to a “buy” rating in a report on Friday, September 8th. BidaskClub upgraded shares of Red Rock Resorts from a “strong sell” rating to a “sell” rating in a report on Friday. Zacks Investment Research lowered shares of Red Rock Resorts from a “hold” rating to a “strong sell” rating in a report on Friday, August 11th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $27.00 price objective on shares of Red Rock Resorts in a report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Red Rock Resorts presently has an average rating of “Buy” and an average target price of $26.23.

Red Rock Resorts, Inc. (NASDAQ RRR) opened at 23.51 on Monday. The company has a 50-day moving average of $22.73 and a 200 day moving average of $22.73. Red Rock Resorts, Inc. has a 12-month low of $21.07 and a 12-month high of $24.67. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 59.82 and a beta of 0.69.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, August 11th. This represents a $0.40 annualized dividend and a dividend yield of 1.70%. Red Rock Resorts’s dividend payout ratio is 83.33%.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc is a gaming, development and management company. The Company’s segments include Las Vegas operations, Native American management, and Corporate and other. The Las Vegas operations segment includes all of its Las Vegas area casino properties and the Native American management segment includes its Native American management arrangements.

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Institutional Ownership by Quarter for Red Rock Resorts (NASDAQ:RRR)

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