Auxano Advisors LLC Makes New $1.34 Million Investment in Red Rock Resorts, Inc. (NASDAQ:RRR)

Auxano Advisors LLC purchased a new position in Red Rock Resorts, Inc. (NASDAQ:RRR) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 25,143 shares of the company’s stock, valued at approximately $1,341,000.

Several other institutional investors also recently modified their holdings of the business. Valeo Financial Advisors LLC purchased a new position in shares of Red Rock Resorts during the fourth quarter valued at approximately $255,000. VELA Investment Management LLC bought a new stake in Red Rock Resorts during the fourth quarter valued at approximately $256,000. Malaga Cove Capital LLC bought a new position in shares of Red Rock Resorts in the third quarter worth approximately $242,000. Institute for Wealth Management LLC. boosted its position in shares of Red Rock Resorts by 4.2% in the fourth quarter. Institute for Wealth Management LLC. now owns 7,557 shares of the company’s stock worth $403,000 after purchasing an additional 308 shares during the period. Finally, Avior Wealth Management LLC boosted its position in shares of Red Rock Resorts by 4.3% in the fourth quarter. Avior Wealth Management LLC now owns 9,941 shares of the company’s stock worth $530,000 after purchasing an additional 408 shares during the period. 47.84% of the stock is currently owned by institutional investors.

Red Rock Resorts Price Performance

RRR traded down $1.90 on Tuesday, hitting $53.12. 444,058 shares of the company’s stock were exchanged, compared to its average volume of 413,966. Red Rock Resorts, Inc. has a fifty-two week low of $37.82 and a fifty-two week high of $63.28. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 13.54. The firm has a 50-day moving average price of $58.20 and a 200-day moving average price of $51.99. The stock has a market cap of $5.59 billion, a price-to-earnings ratio of 18.65, a P/E/G ratio of 2.78 and a beta of 2.06.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.55. The firm had revenue of $462.71 million for the quarter, compared to analysts’ expectations of $440.75 million. Red Rock Resorts had a net margin of 10.21% and a return on equity of 114.32%. The company’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 EPS. As a group, equities analysts anticipate that Red Rock Resorts, Inc. will post 1.94 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.00 annualized dividend and a yield of 1.88%. Red Rock Resorts’s dividend payout ratio (DPR) is currently 33.90%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Red Rock Resorts from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Bank of America upped their price target on shares of Red Rock Resorts from $52.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Truist Financial upped their price target on shares of Red Rock Resorts from $58.00 to $60.00 and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Mizuho started coverage on shares of Red Rock Resorts in a research note on Tuesday, March 26th. They set a “buy” rating and a $69.00 price target on the stock. Finally, Barclays upped their price target on shares of Red Rock Resorts from $62.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.67.

Insider Activity at Red Rock Resorts

In related news, CFO Stephen Lawrence Cootey sold 7,520 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $57.74, for a total value of $434,204.80. Following the sale, the chief financial officer now directly owns 243,808 shares in the company, valued at approximately $14,077,473.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 53.28% of the stock is owned by insiders.

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.