BI Asset Management Fondsmaeglerselskab A S Increases Stake in Red Rock Resorts, Inc. $RRR

BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 54.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,800 shares of the company’s stock after buying an additional 44,546 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Red Rock Resorts were worth $7,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Salomon & Ludwin LLC bought a new position in shares of Red Rock Resorts during the 4th quarter valued at approximately $25,000. GAMMA Investing LLC boosted its position in shares of Red Rock Resorts by 53.8% during the 4th quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock valued at $47,000 after acquiring an additional 263 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Red Rock Resorts by 98.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,474 shares of the company’s stock valued at $91,000 after acquiring an additional 733 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Red Rock Resorts during the 2nd quarter valued at approximately $94,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Red Rock Resorts by 1,385.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,872 shares of the company’s stock valued at $97,000 after acquiring an additional 1,746 shares during the last quarter. 47.84% of the stock is currently owned by institutional investors.

Red Rock Resorts Stock Performance

Shares of Red Rock Resorts stock opened at $57.39 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 14.42. The stock’s fifty day moving average price is $55.10 and its 200-day moving average price is $58.78. The firm has a market cap of $6.03 billion, a P/E ratio of 18.45, a P/E/G ratio of 4.35 and a beta of 1.36. Red Rock Resorts, Inc. has a 12 month low of $47.56 and a 12 month high of $68.99.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data 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). 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 the consensus estimate of $505.63 million. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts expect that Red Rock Resorts, Inc. will post 1.53 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.26 per share. The ex-dividend date is Monday, June 15th. This represents a $1.04 dividend on an annualized basis and a yield of 1.8%. Red Rock Resorts’s dividend payout ratio is currently 33.44%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Citizens Jmp lowered their target price on Red Rock Resorts from $71.00 to $67.00 and set a “market outperform” rating for the company in a research report on Thursday, April 30th. Citigroup lowered their price target on Red Rock Resorts from $76.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Susquehanna lowered their price target on Red Rock Resorts from $77.00 to $70.00 and set a “positive” rating for the company in a research report on Thursday, April 30th. Truist Financial lowered their price target on Red Rock Resorts from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. lowered their price target on Red Rock Resorts from $73.00 to $66.00 and set an “overweight” rating for the company in a research report 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $67.53.

About Red Rock Resorts

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.