Louisiana State Employees Retirement System Buys New Holdings in Red Rock Resorts, Inc. $RRR

Louisiana State Employees Retirement System purchased a new position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 21,500 shares of the company’s stock, valued at approximately $1,147,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RRR. Salomon & Ludwin LLC bought a new stake in shares of Red Rock Resorts during the fourth quarter valued at approximately $25,000. Kestra Advisory Services LLC bought a new position in shares of Red Rock Resorts in the 4th quarter worth $27,000. Rockefeller Capital Management L.P. lifted its holdings in shares of Red Rock Resorts by 1,924.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company’s stock worth $31,000 after purchasing an additional 481 shares in the last quarter. GAMMA Investing LLC grew its position in Red Rock Resorts by 53.8% in the 4th quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock valued at $47,000 after purchasing an additional 263 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in Red Rock Resorts by 98.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,474 shares of the company’s stock valued at $91,000 after purchasing an additional 733 shares during the period. Institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Stock Performance

NASDAQ RRR opened at $65.60 on Friday. Red Rock Resorts, Inc. has a 1 year low of $50.52 and a 1 year high of $68.99. The company has a debt-to-equity ratio of 14.42, a current ratio of 0.81 and a quick ratio of 0.76. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 4.97 and a beta of 1.35. The company has a fifty day moving average price of $57.84 and a 200-day moving average price of $59.52.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Wednesday, April 29th. The company reported $0.73 EPS 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 analysts’ expectations of $505.63 million. During the same quarter in the prior year, the company earned $0.75 EPS. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, equities research analysts predict that Red Rock Resorts, Inc. will post 1.53 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Monday, June 15th. Red Rock Resorts’s dividend payout ratio is presently 33.44%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Zacks Research lowered shares of Red Rock Resorts from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Weiss Ratings cut shares of Red Rock Resorts from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 25th. Wells Fargo & Company decreased their target price on shares of Red Rock Resorts from $59.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. Benchmark lowered their target price on shares of Red Rock Resorts from $67.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Finally, Citizens Jmp dropped their price target on shares of Red Rock Resorts from $71.00 to $67.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Red Rock Resorts has an average rating of “Moderate Buy” and an average price target of $67.94.

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.