TD Asset Management Inc Has $847,000 Stake in Red Rock Resorts, Inc. $RRR

TD Asset Management Inc lowered its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR) by 62.4% in the third quarter, Holdings Channel reports. The firm owned 13,868 shares of the company’s stock after selling 22,996 shares during the quarter. TD Asset Management Inc’s holdings in Red Rock Resorts were worth $847,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RRR. CWM LLC lifted its position in Red Rock Resorts by 4.6% during the 3rd quarter. CWM LLC now owns 4,663 shares of the company’s stock worth $285,000 after buying an additional 205 shares in the last quarter. Baron Wealth Management LLC grew its holdings in shares of Red Rock Resorts by 1.5% in the 3rd quarter. Baron Wealth Management LLC now owns 15,112 shares of the company’s stock valued at $923,000 after acquiring an additional 218 shares in the last quarter. Arizona State Retirement System increased its position in shares of Red Rock Resorts by 1.5% in the third quarter. Arizona State Retirement System now owns 15,103 shares of the company’s stock valued at $922,000 after acquiring an additional 219 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in Red Rock Resorts by 4.6% during the second quarter. Teacher Retirement System of Texas now owns 7,751 shares of the company’s stock worth $403,000 after acquiring an additional 340 shares in the last quarter. Finally, California State Teachers Retirement System raised its holdings in Red Rock Resorts by 0.7% during the second quarter. California State Teachers Retirement System now owns 46,720 shares of the company’s stock worth $2,431,000 after acquiring an additional 343 shares in the last quarter. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RRR shares. Stifel Nicolaus raised their price target on Red Rock Resorts from $71.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Weiss Ratings raised shares of Red Rock Resorts from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Barclays boosted their target price on shares of Red Rock Resorts from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Citigroup increased their price target on shares of Red Rock Resorts from $63.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Finally, Truist Financial restated a “buy” rating and set a $80.00 price objective (up from $75.00) on shares of Red Rock Resorts in a research note on Wednesday, February 11th. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Red Rock Resorts has a consensus rating of “Moderate Buy” and a consensus price target of $71.15.

Red Rock Resorts Price Performance

Red Rock Resorts stock opened at $57.70 on Friday. Red Rock Resorts, Inc. has a 12 month low of $35.09 and a 12 month high of $68.99. The stock’s 50 day moving average is $62.42 and its 200-day moving average is $60.41. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 10.26. The company has a market capitalization of $6.06 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 2.48 and a beta of 1.46.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Tuesday, February 10th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.34. The company had revenue of $511.78 million for the quarter, compared to analyst estimates of $500.90 million. Red Rock Resorts had a return on equity of 58.13% and a net margin of 9.35%.The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 earnings per share. Equities research analysts expect that Red Rock Resorts, Inc. will post 1.76 EPS for the current year.

Red Rock Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.8%. Red Rock Resorts’s dividend payout ratio (DPR) is currently 33.23%.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.