Westfield Capital Management Co. LP Has $71.72 Million Stake in Red Rock Resorts, Inc. $RRR

Westfield Capital Management Co. LP lifted its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,157,653 shares of the company’s stock after purchasing an additional 10,236 shares during the period. Westfield Capital Management Co. LP owned 1.09% of Red Rock Resorts worth $71,717,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Red Rock Resorts during the 3rd quarter worth approximately $4,961,000. Tudor Investment Corp ET AL acquired a new stake in shares of Red Rock Resorts during the 3rd quarter worth approximately $15,114,000. Cookson Peirce & Co. Inc. acquired a new stake in shares of Red Rock Resorts during the 3rd quarter worth approximately $1,203,000. JPMorgan Chase & Co. increased its position in Red Rock Resorts by 92.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 180,185 shares of the company’s stock valued at $11,002,000 after acquiring an additional 86,770 shares during the period. Finally, Capital World Investors increased its position in Red Rock Resorts by 47.1% in the 3rd quarter. Capital World Investors now owns 312,500 shares of the company’s stock valued at $19,081,000 after acquiring an additional 100,000 shares during the period. 47.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $72.00 target price on shares of Red Rock Resorts in a research report on Thursday, April 30th. Jefferies Financial Group decreased their target price on Red Rock Resorts from $79.00 to $74.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Susquehanna decreased their target price on Red Rock Resorts from $77.00 to $70.00 and set a “positive” rating on the stock in a report on Thursday, April 30th. Citizens Jmp decreased their target price on Red Rock Resorts from $71.00 to $67.00 and set a “market outperform” rating on the stock in a report on Thursday, April 30th. Finally, Truist Financial decreased their target price on Red Rock Resorts from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Twelve investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.53.

Red Rock Resorts Trading Up 1.2%

Shares of RRR opened at $57.39 on Friday. Red Rock Resorts, Inc. has a 12-month low of $47.56 and a 12-month high of $68.99. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of 18.45, a P/E/G ratio of 4.30 and a beta of 1.36. The stock’s 50-day moving average price is $55.10 and its 200 day moving average price is $58.78. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 14.42.

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

Red Rock Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.26 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.04 annualized dividend and a dividend yield of 1.8%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 33.44%.

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.