Hantz Financial Services Inc. Sells 12,327 Shares of Red Rock Resorts, Inc. $RRR

Hantz Financial Services Inc. cut its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR) by 4.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 270,743 shares of the company’s stock after selling 12,327 shares during the period. Hantz Financial Services Inc. owned approximately 0.26% of Red Rock Resorts worth $14,087,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Eminence Capital LP raised its position in shares of Red Rock Resorts by 20.5% in the 1st quarter. Eminence Capital LP now owns 2,478,311 shares of the company’s stock worth $107,484,000 after acquiring an additional 421,723 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of Red Rock Resorts by 10.7% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,773,603 shares of the company’s stock worth $92,281,000 after acquiring an additional 171,235 shares in the last quarter. Millennium Management LLC raised its position in shares of Red Rock Resorts by 56.2% in the 1st quarter. Millennium Management LLC now owns 430,150 shares of the company’s stock worth $18,656,000 after acquiring an additional 154,839 shares in the last quarter. Comerica Bank raised its position in shares of Red Rock Resorts by 4.6% in the 1st quarter. Comerica Bank now owns 377,976 shares of the company’s stock worth $16,393,000 after acquiring an additional 16,496 shares in the last quarter. Finally, Natixis Advisors LLC raised its position in shares of Red Rock Resorts by 14.5% in the 1st quarter. Natixis Advisors LLC now owns 287,409 shares of the company’s stock worth $12,465,000 after acquiring an additional 36,338 shares in the last quarter. 47.84% of the stock is owned by institutional investors.

Red Rock Resorts Price Performance

Shares of NASDAQ RRR opened at $52.29 on Thursday. Red Rock Resorts, Inc. has a twelve month low of $35.09 and a twelve month high of $63.60. The stock’s 50 day moving average price is $60.25 and its 200-day moving average price is $54.02. The company has a market capitalization of $5.52 billion, a PE ratio of 16.65, a PEG ratio of 2.21 and a beta of 1.47. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 11.28.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Tuesday, October 28th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.32. Red Rock Resorts had a return on equity of 60.15% and a net margin of 9.52%.The firm had revenue of $475.57 million for the quarter, compared to the consensus estimate of $477.25 million. During the same quarter in the previous year, the business earned $0.48 EPS. The company’s revenue was up 1.6% compared to the same quarter last year. On average, equities analysts anticipate that Red Rock Resorts, Inc. will post 1.76 EPS for the current year.

Red Rock Resorts Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, December 15th. This is a boost from Red Rock Resorts’s previous quarterly dividend of $0.25. Red Rock Resorts’s dividend payout ratio (DPR) is presently 34.01%.

Red Rock Resorts announced that its board has approved a share repurchase program on Tuesday, October 28th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on RRR shares. Macquarie boosted their target price on Red Rock Resorts from $67.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday. Stifel Nicolaus boosted their target price on Red Rock Resorts from $60.00 to $63.00 and gave the company a “hold” rating in a research report on Wednesday. Zacks Research lowered Red Rock Resorts from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. JMP Securities boosted their target price on Red Rock Resorts from $64.00 to $65.00 and gave the company a “market outperform” rating in a research report on Tuesday, September 16th. Finally, Mizuho boosted their target price on Red Rock Resorts from $62.00 to $67.00 and gave the company an “outperform” rating in a research report on Wednesday. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.30.

Insider Buying and Selling

In related news, CFO Stephen Lawrence Cootey sold 121,400 shares of Red Rock Resorts stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $60.04, for a total value of $7,288,856.00. Following the sale, the chief financial officer owned 260,268 shares of the company’s stock, valued at approximately $15,626,490.72. The trade was a 31.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jeffrey T. Welch sold 56,653 shares of Red Rock Resorts stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $60.23, for a total transaction of $3,412,210.19. Following the completion of the sale, the executive vice president directly owned 314,767 shares in the company, valued at $18,958,416.41. This trade represents a 15.25% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 262,703 shares of company stock valued at $15,764,672. 53.81% of the stock is owned by company insiders.

About Red Rock Resorts

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.