Fmr LLC Sells 312,050 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Fmr LLC cut its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR) by 6.9% during the fourth quarter, Holdings Channel reports. The firm owned 4,237,217 shares of the company’s stock after selling 312,050 shares during the quarter. Fmr LLC’s holdings in Red Rock Resorts were worth $195,929,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Barclays PLC grew its position in shares of Red Rock Resorts by 227.9% during the third quarter. Barclays PLC now owns 78,932 shares of the company’s stock valued at $4,297,000 after purchasing an additional 54,863 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Red Rock Resorts by 18.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 89,197 shares of the company’s stock worth $4,856,000 after acquiring an additional 14,148 shares in the last quarter. Ring Mountain Capital LLC bought a new position in shares of Red Rock Resorts during the 4th quarter valued at approximately $487,000. OFI Invest Asset Management purchased a new position in shares of Red Rock Resorts in the fourth quarter valued at $2,054,000. Finally, Geode Capital Management LLC raised its stake in Red Rock Resorts by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,171,267 shares of the company’s stock valued at $63,776,000 after purchasing an additional 14,029 shares in the last quarter. 47.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RRR. JMP Securities lowered their price target on shares of Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating for the company in a report on Thursday, January 16th. Stifel Nicolaus boosted their target price on Red Rock Resorts from $50.00 to $54.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. Susquehanna increased their price target on Red Rock Resorts from $60.00 to $61.00 and gave the company a “positive” rating in a report on Wednesday, February 12th. Mizuho lifted their price objective on shares of Red Rock Resorts from $44.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Finally, Truist Financial reduced their target price on shares of Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $57.33.

Red Rock Resorts Stock Up 0.4 %

RRR stock opened at $40.49 on Friday. The stock has a market capitalization of $4.29 billion, a P/E ratio of 16.13, a P/E/G ratio of 4.32 and a beta of 1.69. Red Rock Resorts, Inc. has a 52 week low of $35.09 and a 52 week high of $61.73. The firm has a 50-day simple moving average of $46.17 and a 200-day simple moving average of $48.51. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.34. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. Equities analysts forecast that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.25 per share. The ex-dividend date was Monday, March 17th. This represents a $1.00 annualized dividend and a dividend yield of 2.47%. Red Rock Resorts’s payout ratio is 39.84%.

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.