Gerald Baker Financial Group LLC Acquires New Holdings in Red Rock Resorts, Inc. $RRR

Gerald Baker Financial Group LLC bought a new stake in Red Rock Resorts, Inc. (NASDAQ:RRR) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 14,964 shares of the company’s stock, valued at approximately $798,000.

Other hedge funds also recently bought and sold shares of the company. Salomon & Ludwin LLC acquired a new position in shares of Red Rock Resorts in the 4th quarter valued at $25,000. Kestra Advisory Services LLC acquired a new stake in Red Rock Resorts during the 4th quarter worth $27,000. Rockefeller Capital Management L.P. lifted its holdings in Red Rock Resorts by 1,924.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company’s stock worth $31,000 after acquiring an additional 481 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Red Rock Resorts by 53.8% during the fourth quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock worth $47,000 after acquiring an additional 263 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Red Rock Resorts by 98.9% in the fourth 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 period. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RRR. Jefferies Financial Group reaffirmed a “buy” rating on shares of Red Rock Resorts in a research report on Thursday, July 2nd. Zacks Research cut Red Rock Resorts from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. UBS Group set a $75.00 target price on shares of Red Rock Resorts in a report on Thursday, July 2nd. Wells Fargo & Company raised shares of Red Rock Resorts from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $55.00 to $75.00 in a research note on Tuesday. Finally, Barclays lifted their price objective on shares of Red Rock Resorts from $65.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Fourteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.81.

Red Rock Resorts Stock Performance

Shares of NASDAQ RRR opened at $66.73 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. Red Rock Resorts, Inc. has a 12 month low of $50.52 and a 12 month high of $68.99. The stock has a 50 day moving average of $59.71 and a 200-day moving average of $59.63. The company has a market capitalization of $7.01 billion, a P/E ratio of 21.46, a P/E/G ratio of 4.96 and a beta of 1.35.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly 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). Red Rock Resorts had a net margin of 9.21% and a return on equity of 61.67%. The business had revenue of $507.32 million during the quarter, compared to the consensus estimate of $505.63 million. During the same quarter last year, the company posted $0.75 EPS. The firm’s revenue 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 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 issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, June 15th. Red Rock Resorts’s payout ratio is currently 33.44%.

Red Rock Resorts 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.