SG Americas Securities LLC Has $387,000 Stake in Red Rock Resorts, Inc. $RRR

SG Americas Securities LLC reduced its position in Red Rock Resorts, Inc. (NASDAQ:RRR) by 71.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,244 shares of the company’s stock after selling 18,153 shares during the quarter. SG Americas Securities LLC’s holdings in Red Rock Resorts were worth $387,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Salomon & Ludwin LLC bought a new position in Red Rock Resorts during the fourth quarter worth $25,000. Kestra Advisory Services LLC bought a new stake in Red Rock Resorts during the fourth quarter valued at $27,000. Rockefeller Capital Management L.P. grew its holdings in Red Rock Resorts by 1,924.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company’s stock worth $31,000 after acquiring an additional 481 shares during the period. GAMMA Investing LLC grew its holdings in Red Rock Resorts by 53.8% during the 4th quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock worth $47,000 after acquiring an additional 263 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of 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 worth $91,000 after acquiring an additional 733 shares in the last quarter. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Red Rock Resorts Stock Performance

Shares of RRR opened at $63.49 on Friday. 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 stock has a 50 day moving average price of $58.61 and a two-hundred day moving average price of $59.55. The firm has a market capitalization of $6.67 billion, a P/E ratio of 20.41, a P/E/G ratio of 4.80 and a beta of 1.35. Red Rock Resorts, Inc. has a 52 week low of $50.52 and a 52 week high of $68.99.

Red Rock Resorts (NASDAQ:RRR) last posted its earnings results on Wednesday, April 29th. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.17). The company had revenue of $507.32 million during the quarter, compared to the consensus estimate of $505.63 million. Red Rock Resorts had a net margin of 9.21% and a return on equity of 61.67%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.75 EPS. Equities analysts forecast 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 disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, June 15th. This represents a $1.04 annualized dividend and a yield of 1.6%. Red Rock Resorts’s dividend payout ratio (DPR) is 33.44%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Benchmark dropped their price objective on 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. Susquehanna decreased their target price on Red Rock Resorts from $77.00 to $70.00 and set a “positive” rating for the company in a research note on Thursday, April 30th. Jefferies Financial Group reiterated a “buy” rating on shares of Red Rock Resorts in a report on Thursday, July 2nd. Citizens Jmp dropped their price target on Red Rock Resorts from $71.00 to $67.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 30th. Finally, Weiss Ratings cut Red Rock Resorts from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Red Rock Resorts currently has an average rating of “Moderate Buy” and an average price target of $68.12.

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.