Red Rock Resorts, Inc. $RRR Stock Position Lifted by Bamco Inc. NY

Bamco Inc. NY lifted its position in Red Rock Resorts, Inc. (NASDAQ:RRR) by 2.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 12,519,892 shares of the company’s stock after buying an additional 250,725 shares during the quarter. Red Rock Resorts comprises approximately 2.1% of Bamco Inc. NY’s investment portfolio, making the stock its 10th largest holding. Bamco Inc. NY owned approximately 0.12% of Red Rock Resorts worth $775,607,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Salomon & Ludwin LLC purchased a new position in shares of Red Rock Resorts in the 4th quarter worth approximately $25,000. Kestra Advisory Services LLC acquired a new stake in Red Rock Resorts in the 4th quarter worth approximately $27,000. GAMMA Investing LLC boosted its stake in Red Rock Resorts by 53.8% in the 4th quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock worth $47,000 after purchasing an additional 263 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Red Rock Resorts by 98.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,474 shares of the company’s stock worth $91,000 after purchasing an additional 733 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in Red Rock Resorts in the 2nd quarter worth approximately $94,000. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on RRR. Stifel Nicolaus set a $70.00 target price on shares of Red Rock Resorts in a research note on Friday, May 29th. Citizens Jmp lowered their target price on shares of Red Rock Resorts from $71.00 to $67.00 and set a “market outperform” rating for the company in a research note on Thursday, April 30th. Weiss Ratings upgraded shares of Red Rock Resorts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, June 8th. Citigroup lowered their target price on shares of Red Rock Resorts from $76.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. lowered their target price on shares of Red Rock Resorts from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Twelve investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $67.53.

Red Rock Resorts Stock Performance

Shares of NASDAQ RRR opened at $59.13 on Thursday. The company’s fifty day moving average price is $56.11 and its 200 day moving average price is $59.06. Red Rock Resorts, Inc. has a 1 year low of $49.47 and a 1 year high of $68.99. The company has a market capitalization of $6.21 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36. The company has a debt-to-equity ratio of 14.42, a quick ratio of 0.76 and a current ratio of 0.81.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.17). Red Rock Resorts had a return on equity of 61.67% and a net margin of 9.21%.The firm had revenue of $507.32 million for the quarter, compared to analysts’ expectations of $505.63 million. During the same period last year, the company posted $0.75 earnings per share. The business’s quarterly revenue was up 1.9% on a year-over-year basis. On average, research analysts predict that Red Rock Resorts, Inc. will post 1.53 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.04 dividend on an annualized basis and a yield of 1.8%. Red Rock Resorts’s dividend payout ratio is 33.44%.

Red Rock Resorts 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.