Red Rock Resorts, Inc. (NASDAQ:RRR) Shares Bought by US Bancorp DE

US Bancorp DE lifted its position in Red Rock Resorts, Inc. (NASDAQ:RRR) by 2,223.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,557 shares of the company’s stock after buying an additional 1,490 shares during the period. US Bancorp DE’s holdings in Red Rock Resorts were worth $85,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Covestor Ltd boosted its holdings in shares of Red Rock Resorts by 16,666.7% during the first quarter. Covestor Ltd now owns 503 shares of the company’s stock worth $30,000 after purchasing an additional 500 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Red Rock Resorts during the 2nd quarter worth about $98,000. nVerses Capital LLC bought a new position in Red Rock Resorts during the second quarter worth $154,000. Ritholtz Wealth Management acquired a new position in Red Rock Resorts in the 3rd quarter valued at approximately $215,000. Finally, Mayfair Advisory Group LLC acquired a new position in shares of Red Rock Resorts in the 3rd quarter valued at $218,000. 47.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Morgan Stanley raised their target price on Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 4th. Truist Financial lowered their price objective on shares of Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. JMP Securities reissued a “market outperform” rating and issued a $65.00 price objective on shares of Red Rock Resorts in a research report on Monday, October 14th. Stifel Nicolaus upped their price objective on Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Finally, Mizuho reaffirmed an “outperform” rating and issued a $57.00 price objective (down from $67.00) on shares of Red Rock Resorts in a research report on Tuesday, November 12th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $61.50.

Red Rock Resorts Stock Up 1.3 %

Shares of NASDAQ RRR opened at $50.84 on Friday. The firm’s 50 day simple moving average is $53.15 and its two-hundred day simple moving average is $53.76. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.89. Red Rock Resorts, Inc. has a one year low of $43.08 and a one year high of $63.28. The stock has a market capitalization of $5.37 billion, a P/E ratio of 18.83, a PEG ratio of 6.38 and a beta of 2.04.

Red Rock Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Monday, December 16th. Red Rock Resorts’s payout ratio is currently 37.04%.

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.