First Trust Advisors LP Buys 13,275 Shares of Red Rock Resorts, Inc. $RRR

First Trust Advisors LP boosted its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR) by 17.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 89,530 shares of the company’s stock after buying an additional 13,275 shares during the period. First Trust Advisors LP’s holdings in Red Rock Resorts were worth $4,777,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC bought a new stake in Red Rock Resorts in the 1st quarter valued at $308,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Red Rock Resorts by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,272 shares of the company’s stock valued at $1,270,000 after purchasing an additional 1,282 shares during the last quarter. Millennium Management LLC grew its position in shares of Red Rock Resorts by 56.2% during the first quarter. Millennium Management LLC now owns 430,150 shares of the company’s stock valued at $18,656,000 after purchasing an additional 154,839 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Red Rock Resorts by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 106,275 shares of the company’s stock valued at $4,609,000 after purchasing an additional 4,699 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Red Rock Resorts by 9.1% in the second quarter. American Century Companies Inc. now owns 25,884 shares of the company’s stock worth $1,347,000 after purchasing an additional 2,166 shares during the last quarter. 47.84% of the stock is owned by institutional investors.

Red Rock Resorts Stock Down 2.0%

Shares of RRR opened at $64.27 on Wednesday. The firm has a fifty day moving average price of $62.69 and a 200-day moving average price of $59.84. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 14.42. The firm has a market capitalization of $6.75 billion, a P/E ratio of 20.67, a P/E/G ratio of 4.82 and a beta of 1.36. Red Rock Resorts, Inc. has a 12-month low of $50.52 and a 12-month high of $68.99.

Red Rock Resorts (NASDAQ:RRR) last posted its earnings results on Tuesday, August 4th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.16. Red Rock Resorts had a net margin of 9.21% and a return on equity of 61.67%. The business had revenue of $510.26 million for the quarter, compared to the consensus estimate of $500.08 million. During the same quarter last year, the firm posted $0.95 EPS. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. Equities research analysts expect that Red Rock Resorts, Inc. will post 1.52 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Red Rock Resorts’s dividend payout ratio is presently 33.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on RRR shares. Barclays increased their price target on Red Rock Resorts from $65.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $73.00 price objective on shares of Red Rock Resorts in a research note on Wednesday, July 15th. Citigroup reaffirmed an “outperform” rating on shares of Red Rock Resorts in a report on Thursday, July 16th. Benchmark increased their target price on Red Rock Resorts from $63.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Finally, Bank of America raised their target price on shares of Red Rock Resorts from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Fourteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $71.24.

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.