PNC Financial Services Group Inc. grew its stake in Red Rock Resorts, Inc. (NASDAQ:RRR) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 188,324 shares of the company’s stock after purchasing an additional 3,424 shares during the period. PNC Financial Services Group Inc. owned about 0.29% of Red Rock Resorts worth $4,436,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Amalgamated Bank purchased a new stake in Red Rock Resorts in the 2nd quarter worth approximately $208,000. Nationwide Fund Advisors boosted its position in Red Rock Resorts by 8.9% in the 2nd quarter. Nationwide Fund Advisors now owns 305,118 shares of the company’s stock worth $7,186,000 after purchasing an additional 24,933 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in Red Rock Resorts by 7.7% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,053,034 shares of the company’s stock worth $24,799,000 after purchasing an additional 75,565 shares in the last quarter. Teachers Advisors LLC boosted its position in Red Rock Resorts by 4.5% in the 2nd quarter. Teachers Advisors LLC now owns 862,810 shares of the company’s stock worth $20,319,000 after purchasing an additional 36,854 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in Red Rock Resorts by 92.8% in the 2nd quarter. Alliancebernstein L.P. now owns 98,700 shares of the company’s stock worth $2,324,000 after purchasing an additional 47,500 shares in the last quarter. Institutional investors and hedge funds own 62.52% of the company’s stock.

Red Rock Resorts, Inc. (NASDAQ:RRR) opened at 23.07 on Thursday. The stock’s 50 day moving average price is $22.73 and its 200-day moving average price is $22.73. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 58.70 and a beta of 0.69. Red Rock Resorts, Inc. has a 12 month low of $21.07 and a 12 month high of $24.67.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Tuesday, August 15th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend was Friday, August 11th. Red Rock Resorts’s dividend payout ratio is presently 83.33%.

Several equities research analysts have commented on RRR shares. Zacks Investment Research lowered Red Rock Resorts from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. SunTrust Banks, Inc. started coverage on Red Rock Resorts in a research report on Thursday, September 14th. They set a “buy” rating and a $26.00 target price on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $27.00 target price on shares of Red Rock Resorts in a research report on Friday, July 14th. Bank of America Corporation reiterated a “buy” rating and set a $26.00 target price (up previously from $24.50) on shares of Red Rock Resorts in a research report on Monday, June 5th. Finally, ValuEngine upgraded Red Rock Resorts from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $26.23.

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Red Rock Resorts 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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