Comerica Bank Has $2.11 Million Stock Holdings in Red Rock Resorts, Inc. $RRR

Comerica Bank decreased its holdings in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 91.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,042 shares of the company’s stock after selling 353,802 shares during the quarter. Comerica Bank’s holdings in Red Rock Resorts were worth $2,109,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of RRR. Arrowstreet Capital Limited Partnership lifted its position in shares of Red Rock Resorts by 2,248.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,354,644 shares of the company’s stock worth $82,715,000 after purchasing an additional 1,296,956 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Red Rock Resorts by 6.7% in the third quarter. Vanguard Group Inc. now owns 5,564,421 shares of the company’s stock valued at $339,764,000 after acquiring an additional 349,822 shares during the period. UBS Group AG lifted its stake in shares of Red Rock Resorts by 205.1% in the fourth quarter. UBS Group AG now owns 476,311 shares of the company’s stock valued at $29,507,000 after buying an additional 320,175 shares during the period. Voloridge Investment Management LLC raised its holdings in Red Rock Resorts by 556.5% in the 3rd quarter. Voloridge Investment Management LLC now owns 334,610 shares of the company’s stock valued at $20,431,000 after acquiring an additional 283,642 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in shares of Red Rock Resorts by 53.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 793,371 shares of the company’s stock worth $41,279,000 after acquiring an additional 277,426 shares during the period. 47.84% of the stock is owned by institutional investors and hedge funds.

Red Rock Resorts Trading Up 2.4%

Shares of NASDAQ RRR opened at $52.92 on Wednesday. The company has a debt-to-equity ratio of 10.26, a current ratio of 0.79 and a quick ratio of 0.74. Red Rock Resorts, Inc. has a fifty-two week low of $43.16 and a fifty-two week high of $68.99. The company’s 50 day simple moving average is $57.20 and its 200 day simple moving average is $59.22. The firm has a market capitalization of $5.56 billion, a P/E ratio of 17.02, a P/E/G ratio of 2.16 and a beta of 1.35.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.73 earnings per share (EPS) 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 58.18%. The firm had revenue of $507.32 million for the quarter, compared to analyst estimates of $505.63 million. During the same quarter in the prior year, the firm posted $0.75 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, analysts predict that Red Rock Resorts, Inc. will post 2.25 EPS for the current year.

Red Rock Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, June 15th. Red Rock Resorts’s payout ratio is 33.44%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RRR. Susquehanna reduced their target price 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. Morgan Stanley raised their price objective on shares of Red Rock Resorts from $62.00 to $63.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 8th. Barclays upped their target price on shares of Red Rock Resorts from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $72.00 target price on shares of Red Rock Resorts in a research report on Thursday, April 30th. Finally, Truist Financial reduced their price target on shares of Red Rock Resorts from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Red Rock Resorts presently has a consensus rating of “Moderate Buy” and an average target price of $67.93.

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.