Jefferies Financial Group Inc. Makes New $911,000 Investment in Red Rock Resorts, Inc. $RRR

Jefferies Financial Group Inc. bought a new position in Red Rock Resorts, Inc. (NASDAQ:RRR) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 14,700 shares of the company’s stock, valued at approximately $911,000.

Other large investors have also added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Red Rock Resorts in the 3rd quarter worth approximately $4,961,000. Tudor Investment Corp ET AL purchased a new position in shares of Red Rock Resorts during the 3rd quarter worth $15,114,000. Cookson Peirce & Co. Inc. purchased a new position in shares of Red Rock Resorts during the 3rd quarter worth $1,203,000. Capital World Investors boosted its stake in shares of Red Rock Resorts by 47.1% during the 3rd quarter. Capital World Investors now owns 312,500 shares of the company’s stock worth $19,081,000 after acquiring an additional 100,000 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Red Rock Resorts by 92.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 180,185 shares of the company’s stock worth $11,002,000 after acquiring an additional 86,770 shares during the last quarter. Institutional investors own 47.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $72.00 price target on shares of Red Rock Resorts in a research note on Thursday, April 30th. JPMorgan Chase & Co. dropped their price target on shares of Red Rock Resorts from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Mizuho set a $77.00 price target on shares of Red Rock Resorts in a research note on Wednesday, February 11th. Susquehanna dropped their price target on shares of Red Rock Resorts from $77.00 to $70.00 and set a “positive” rating on the stock in a research note on Thursday, April 30th. Finally, Benchmark dropped their price target on shares of Red Rock Resorts from $67.00 to $63.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Twelve equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Red Rock Resorts has an average rating of “Moderate Buy” and a consensus target price of $67.53.

Red Rock Resorts Stock Up 1.0%

RRR opened at $58.38 on Friday. The stock has a market cap of $6.13 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 4.08 and a beta of 1.35. The company has a debt-to-equity ratio of 14.42, a quick ratio of 0.76 and a current ratio of 0.81. The firm’s fifty day moving average is $55.22 and its 200 day moving average is $58.82. Red Rock Resorts, Inc. has a fifty-two week low of $47.56 and a fifty-two week high of $68.99.

Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Wednesday, April 29th. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.17). The firm had revenue of $507.32 million during the quarter, compared to the consensus estimate of $505.63 million. Red Rock Resorts had a return on equity of 61.67% and a net margin of 9.21%.The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 EPS. On average, sell-side analysts forecast that Red Rock Resorts, Inc. will post 1.65 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 1.8%. Red Rock Resorts’s dividend payout ratio is currently 33.44%.

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.