Thrivent Financial for Lutherans Makes New $2.22 Million Investment in Red Rock Resorts, Inc. $RRR

Thrivent Financial for Lutherans acquired a new position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) in the fourth quarter, Holdings Channel.com reports. The firm acquired 35,756 shares of the company’s stock, valued at approximately $2,215,000.

Other large investors also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC acquired a new position in Red Rock Resorts during the fourth quarter worth $25,000. Strs Ohio purchased a new stake in shares of Red Rock Resorts during the third quarter worth $37,000. GAMMA Investing LLC grew its holdings in shares of Red Rock Resorts by 53.8% during the fourth quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock worth $47,000 after buying an additional 263 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Red Rock Resorts during the second quarter worth $94,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Red Rock Resorts by 1,385.7% during the second quarter. Russell Investments Group Ltd. now owns 1,872 shares of the company’s stock worth $97,000 after buying an additional 1,746 shares in the last quarter. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Red Rock Resorts Stock Performance

Shares of RRR opened at $55.38 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 14.42. Red Rock Resorts, Inc. has a 12-month low of $46.17 and a 12-month high of $68.99. The firm has a 50-day moving average price of $55.25 and a 200 day moving average price of $58.78. The firm has a market capitalization of $5.82 billion, a P/E ratio of 17.81, a P/E/G ratio of 3.72 and a beta of 1.35.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.17). Red Rock Resorts had a net margin of 9.21% and a return on equity of 61.67%. The firm had revenue of $507.32 million during the quarter, compared to analysts’ expectations of $505.63 million. During the same period in the prior year, the company posted $0.75 EPS. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Sell-side analysts forecast that Red Rock Resorts, Inc. will post 1.71 EPS for the current year.

Red Rock Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.9%. Red Rock Resorts’s dividend payout ratio is currently 33.44%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RRR shares. Morgan Stanley set a $59.00 target price on shares of Red Rock Resorts in a report on Wednesday, May 6th. Jefferies Financial Group dropped their target price on shares of Red Rock Resorts from $79.00 to $74.00 and set a “buy” rating for the company in a report on Monday, April 6th. Susquehanna dropped their target price on shares of Red Rock Resorts from $77.00 to $70.00 and set a “positive” rating for the company in a report on Thursday, April 30th. Stifel Nicolaus set a $72.00 target price on shares of Red Rock Resorts in a report on Thursday, April 30th. Finally, Weiss Ratings lowered shares of Red Rock Resorts from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday. Twelve research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $67.67.

Red Rock Resorts 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.