Red Rock Resorts, Inc. $RRR Shares Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC raised its position in Red Rock Resorts, Inc. (NASDAQ:RRR) by 0.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 200,906 shares of the company’s stock after acquiring an additional 676 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Red Rock Resorts were worth $10,453,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in Red Rock Resorts by 7,978.4% in the 1st quarter. GAMMA Investing LLC now owns 8,240 shares of the company’s stock valued at $357,000 after buying an additional 8,138 shares during the period. SG Americas Securities LLC acquired a new position in Red Rock Resorts in the 1st quarter valued at $750,000. Malaga Cove Capital LLC increased its stake in Red Rock Resorts by 85.3% in the 1st quarter. Malaga Cove Capital LLC now owns 24,783 shares of the company’s stock valued at $1,075,000 after buying an additional 11,406 shares during the period. KBC Group NV increased its stake in Red Rock Resorts by 44.6% in the 1st quarter. KBC Group NV now owns 2,887 shares of the company’s stock valued at $125,000 after buying an additional 891 shares during the period. Finally, Dark Forest Capital Management LP grew its stake in shares of Red Rock Resorts by 604.9% during the 1st quarter. Dark Forest Capital Management LP now owns 121,228 shares of the company’s stock worth $5,258,000 after purchasing an additional 104,030 shares during the period. 47.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RRR has been the topic of a number of recent analyst reports. Mizuho upped their price target on shares of Red Rock Resorts from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. JMP Securities upped their price target on shares of Red Rock Resorts from $64.00 to $65.00 and gave the stock a “market outperform” rating in a research note on Tuesday, September 16th. Morgan Stanley upped their price target on shares of Red Rock Resorts from $49.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Truist Financial raised shares of Red Rock Resorts from a “hold” rating to a “buy” rating and upped their price target for the stock from $45.00 to $67.00 in a research note on Wednesday, July 16th. Finally, Barclays upped their price target on shares of Red Rock Resorts from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $60.82.

Red Rock Resorts Price Performance

Shares of NASDAQ RRR opened at $55.86 on Tuesday. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 2.18 and a beta of 1.47. Red Rock Resorts, Inc. has a 52 week low of $35.09 and a 52 week high of $63.60. The company’s 50-day moving average price is $60.29 and its 200 day moving average price is $52.48. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 11.28.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.55. The firm had revenue of $526.27 million for the quarter, compared to analysts’ expectations of $485.44 million. Red Rock Resorts had a net margin of 8.89% and a return on equity of 59.97%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.59 EPS. As a group, research analysts forecast that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Monday, September 15th. Red Rock Resorts’s dividend payout ratio is 34.01%.

Insider Buying and Selling at Red Rock Resorts

In other Red Rock Resorts news, COO Kord Nichols sold 42,325 shares of the company’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $58.61, for a total value of $2,480,668.25. Following the transaction, the chief operating officer directly owned 129,361 shares in the company, valued at approximately $7,581,848.21. This represents a 24.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey T. Welch sold 56,653 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $60.23, for a total transaction of $3,412,210.19. Following the completion of the transaction, the executive vice president owned 314,767 shares in the company, valued at approximately $18,958,416.41. This trade represents a 15.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 262,703 shares of company stock worth $15,764,672. Corporate insiders own 53.28% of the company’s stock.

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.