4,701 Shares in Red Rock Resorts, Inc. $RRR Purchased by Aristeia Capital L.L.C.

Aristeia Capital L.L.C. acquired a new position in Red Rock Resorts, Inc. (NASDAQ:RRR) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 4,701 shares of the company’s stock, valued at approximately $204,000.

Several other large investors also recently bought and sold shares of the business. Shellback Capital LP increased its holdings in Red Rock Resorts by 300.0% in the 1st quarter. Shellback Capital LP now owns 100,000 shares of the company’s stock worth $4,337,000 after buying an additional 75,000 shares in the last quarter. Millennium Management LLC increased its holdings in Red Rock Resorts by 56.2% in the 1st quarter. Millennium Management LLC now owns 430,150 shares of the company’s stock worth $18,656,000 after buying an additional 154,839 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Red Rock Resorts by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,272 shares of the company’s stock worth $1,270,000 after buying an additional 1,282 shares in the last quarter. EJF Capital LLC increased its holdings in Red Rock Resorts by 20.5% in the 1st quarter. EJF Capital LLC now owns 12,955 shares of the company’s stock worth $562,000 after buying an additional 2,200 shares in the last quarter. Finally, Eminence Capital LP increased its holdings in Red Rock Resorts by 20.5% in the 1st quarter. Eminence Capital LP now owns 2,478,311 shares of the company’s stock worth $107,484,000 after buying an additional 421,723 shares in the last quarter. 47.84% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Jeffrey T. Welch sold 56,653 shares of Red Rock Resorts stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $60.23, for a total transaction of $3,412,210.19. Following the transaction, the executive vice president directly owned 314,767 shares of the company’s stock, valued at $18,958,416.41. The trade was a 15.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stephen Lawrence Cootey sold 121,400 shares of Red Rock Resorts stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $60.04, for a total value of $7,288,856.00. Following the transaction, the chief financial officer directly owned 260,268 shares in the company, valued at approximately $15,626,490.72. The trade was a 31.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 262,703 shares of company stock valued at $15,764,672 in the last ninety days. Corporate insiders own 53.28% of the company’s stock.

Red Rock Resorts Stock Down 1.4%

RRR stock opened at $61.37 on Tuesday. Red Rock Resorts, Inc. has a twelve month low of $35.09 and a twelve month high of $63.60. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 11.28. The stock has a market cap of $6.47 billion, a P/E ratio of 20.87, a PEG ratio of 2.51 and a beta of 1.46. The business’s 50-day moving average price is $58.15 and its 200-day moving average price is $50.06.

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

Red Rock Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, September 15th. Red Rock Resorts’s payout ratio is presently 34.01%.

Analysts Set New Price Targets

Several equities research analysts recently commented on RRR shares. Morgan Stanley lifted their price objective on Red Rock Resorts from $49.00 to $53.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. began coverage on shares of Red Rock Resorts in a research report on Monday, June 23rd. They set an “overweight” rating and a $62.00 price target for the company. Stifel Nicolaus set a $60.00 price target on shares of Red Rock Resorts and gave the company a “hold” rating in a research report on Wednesday, July 30th. JMP Securities upped their price target on shares of Red Rock Resorts from $57.00 to $64.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 30th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Red Rock Resorts in a research report on Friday, July 18th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.73.

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.