North Run Capital LP boosted its stake in shares of Red Rock Resorts Inc (NASDAQ:RRR) by 14.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 265,000 shares of the company’s stock after purchasing an additional 32,500 shares during the period. Red Rock Resorts accounts for about 4.8% of North Run Capital LP’s investment portfolio, making the stock its 9th biggest holding. North Run Capital LP owned 0.23% of Red Rock Resorts worth $8,878,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Diamond Hill Capital Management Inc. increased its stake in Red Rock Resorts by 1.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 4,785,077 shares of the company’s stock worth $160,300,000 after acquiring an additional 55,976 shares during the period. BlackRock Inc. lifted its holdings in Red Rock Resorts by 7.5% during the 2nd quarter. BlackRock Inc. now owns 4,575,902 shares of the company’s stock worth $153,294,000 after buying an additional 319,277 shares during the period. Victory Capital Management Inc. lifted its holdings in Red Rock Resorts by 4.8% during the 2nd quarter. Victory Capital Management Inc. now owns 845,987 shares of the company’s stock worth $28,340,000 after buying an additional 38,690 shares during the period. Northern Trust Corp raised its position in shares of Red Rock Resorts by 5.3% in the 1st quarter. Northern Trust Corp now owns 808,710 shares of the company’s stock worth $23,679,000 after acquiring an additional 40,926 shares in the last quarter. Finally, Scopus Asset Management L.P. bought a new position in shares of Red Rock Resorts in the 1st quarter worth about $22,692,000. 61.87% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on RRR. BidaskClub lowered Red Rock Resorts from a “hold” rating to a “sell” rating in a research report on Friday, August 10th. Zacks Investment Research downgraded Red Rock Resorts from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. Finally, SunTrust Banks restated a “buy” rating and issued a $38.00 target price on shares of Red Rock Resorts in a research note on Thursday, August 16th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $35.30.
Shares of NASDAQ RRR opened at $30.83 on Thursday. Red Rock Resorts Inc has a fifty-two week low of $22.40 and a fifty-two week high of $36.99. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 49.73 and a beta of 1.43. The company has a quick ratio of 0.63, a current ratio of 0.67 and a debt-to-equity ratio of 3.23.
Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Tuesday, July 31st. The company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.08. The company had revenue of $416.19 million during the quarter, compared to the consensus estimate of $408.46 million. Red Rock Resorts had a net margin of 10.74% and a return on equity of 13.23%. sell-side analysts anticipate that Red Rock Resorts Inc will post 1.4 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Thursday, September 13th. Red Rock Resorts’s dividend payout ratio (DPR) is currently 64.52%.
Red Rock Resorts Company Profile
Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.
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