Avior Wealth Management LLC Raises Stock Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

Avior Wealth Management LLC grew its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR) by 4.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,941 shares of the company’s stock after buying an additional 408 shares during the quarter. Avior Wealth Management LLC’s holdings in Red Rock Resorts were worth $530,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in RRR. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Red Rock Resorts by 7.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,071 shares of the company’s stock valued at $644,000 after purchasing an additional 870 shares during the last quarter. VELA Investment Management LLC purchased a new position in shares of Red Rock Resorts during the 4th quarter worth $256,000. Valeo Financial Advisors LLC acquired a new position in shares of Red Rock Resorts during the 4th quarter valued at about $255,000. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Red Rock Resorts during the 4th quarter valued at about $40,331,000. Finally, American Century Companies Inc. grew its holdings in shares of Red Rock Resorts by 67.9% in the third quarter. American Century Companies Inc. now owns 56,371 shares of the company’s stock valued at $2,311,000 after purchasing an additional 22,799 shares during the period. 47.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on RRR shares. Morgan Stanley increased their price objective on Red Rock Resorts from $51.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. JMP Securities upped their target price on shares of Red Rock Resorts from $55.00 to $61.00 and gave the company a “market outperform” rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. upped their price objective on shares of Red Rock Resorts from $63.00 to $69.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Bank of America upped their price target on Red Rock Resorts from $52.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Red Rock Resorts from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $60.67.

Insider Activity

In related news, CFO Stephen Lawrence Cootey sold 7,520 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $57.74, for a total value of $434,204.80. Following the transaction, the chief financial officer now owns 243,808 shares of the company’s stock, valued at $14,077,473.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 54.20% of the company’s stock.

Red Rock Resorts Price Performance

Shares of NASDAQ RRR opened at $57.86 on Friday. The company has a debt-to-equity ratio of 13.54, a current ratio of 0.81 and a quick ratio of 0.76. The company has a market cap of $6.09 billion, a price-to-earnings ratio of 19.61, a price-to-earnings-growth ratio of 3.02 and a beta of 2.06. The stock’s 50-day moving average is $58.33 and its two-hundred day moving average is $51.02. Red Rock Resorts, Inc. has a 1-year low of $37.82 and a 1-year high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.55. The business had revenue of $462.71 million during the quarter, compared to the consensus estimate of $440.75 million. Red Rock Resorts had a return on equity of 114.32% and a net margin of 10.21%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.00 earnings per share. Analysts forecast that Red Rock Resorts, Inc. will post 1.93 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Thursday, March 14th. Red Rock Resorts’s dividend payout ratio is presently 33.90%.

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.