Franklin Resources Inc. Sells 85,993 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Franklin Resources Inc. trimmed its holdings in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 9.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 872,202 shares of the company’s stock after selling 85,993 shares during the quarter. Franklin Resources Inc. owned 0.83% of Red Rock Resorts worth $40,331,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership increased its holdings in Red Rock Resorts by 167.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 422,447 shares of the company’s stock worth $19,534,000 after acquiring an additional 264,609 shares during the last quarter. Norges Bank purchased a new stake in Red Rock Resorts in the fourth quarter valued at approximately $5,352,000. JPMorgan Chase & Co. lifted its holdings in shares of Red Rock Resorts by 5.7% during the 4th quarter. JPMorgan Chase & Co. now owns 94,255 shares of the company’s stock worth $4,358,000 after acquiring an additional 5,058 shares during the last quarter. Vanguard Group Inc. lifted its stake in Red Rock Resorts by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 5,181,146 shares of the company’s stock worth $239,576,000 after purchasing an additional 50,193 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Red Rock Resorts in the 4th quarter worth approximately $407,000. 47.84% of the stock is owned by hedge funds and other institutional investors.

Red Rock Resorts Stock Down 3.6 %

RRR opened at $37.62 on Friday. 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, Inc. has a twelve month low of $36.02 and a twelve month high of $62.25. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 4.32 and a beta of 1.69. The firm has a 50 day moving average price of $47.37 and a 200-day moving average price of $49.18.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share (EPS) 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 research analysts forecast that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors 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 yield of 2.66%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 39.84%.

Analysts Set New Price Targets

RRR has been the subject of several recent research reports. Truist Financial lowered their price target on shares of Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $51.00 price target (down previously from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Susquehanna lifted their price objective on Red Rock Resorts from $60.00 to $61.00 and gave the company a “positive” rating in a research report on Wednesday, February 12th. JMP Securities dropped their target price on shares of Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating on the stock in a report on Thursday, January 16th. Finally, Mizuho upped their price objective on shares of Red Rock Resorts from $44.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. 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, Red Rock Resorts currently has an average rating of “Hold” and a consensus target price of $57.33.

Red Rock Resorts 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.