Red Rock Resorts, Inc. (NASDAQ:RRR) VP Buys $1,798,170.00 in Stock

Red Rock Resorts, Inc. (NASDAQ:RRR) VP Lorenzo J. Fertitta purchased 33,000 shares of the stock in a transaction on Thursday, August 1st. The stock was acquired at an average cost of $54.49 per share, for a total transaction of $1,798,170.00. Following the completion of the acquisition, the vice president now owns 47,480,301 shares of the company’s stock, valued at approximately $2,587,201,601.49. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Red Rock Resorts Stock Up 2.0 %

RRR stock opened at $53.73 on Thursday. The company has a market cap of $5.67 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 5.10 and a beta of 2.04. The company has a current ratio of 0.90, a quick ratio of 0.85 and a debt-to-equity ratio of 18.49. Red Rock Resorts, Inc. has a 12 month low of $37.82 and a 12 month high of $63.28. The firm has a 50-day moving average of $54.48 and a two-hundred day moving average of $55.51.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.16. The company had revenue of $486.40 million during the quarter, compared to the consensus estimate of $475.80 million. Red Rock Resorts had a net margin of 9.21% and a return on equity of 87.05%. Red Rock Resorts’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 EPS. As a group, analysts forecast that Red Rock Resorts, Inc. will post 1.66 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.86%. Red Rock Resorts’s payout ratio is 34.72%.

Institutional Trading of Red Rock Resorts

A number of hedge funds have recently bought and sold shares of the business. Bamco Inc. NY raised its holdings in Red Rock Resorts by 0.5% in the 1st quarter. Bamco Inc. NY now owns 10,409,100 shares of the company’s stock valued at $622,672,000 after acquiring an additional 50,246 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Red Rock Resorts by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 5,136,942 shares of the company’s stock valued at $307,292,000 after buying an additional 209,593 shares during the period. Eminence Capital LP grew its stake in shares of Red Rock Resorts by 21.1% in the 4th quarter. Eminence Capital LP now owns 2,373,556 shares of the company’s stock valued at $126,582,000 after buying an additional 413,871 shares during the period. Westfield Capital Management Co. LP grew its stake in shares of Red Rock Resorts by 2.4% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,386,676 shares of the company’s stock valued at $73,951,000 after buying an additional 32,427 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its stake in shares of Red Rock Resorts by 26.7% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company’s stock valued at $65,706,000 after buying an additional 251,855 shares during the period. Institutional investors and hedge funds own 47.84% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on RRR shares. Macquarie upped their price target on shares of Red Rock Resorts from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Bank of America raised shares of Red Rock Resorts from an “underperform” rating to a “neutral” rating and lowered their target price for the stock from $57.00 to $55.00 in a research note on Monday, May 13th. JPMorgan Chase & Co. increased their target price on shares of Red Rock Resorts from $62.00 to $69.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Stifel Nicolaus increased their target price on shares of Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Finally, Susquehanna increased their target price on shares of Red Rock Resorts from $63.00 to $70.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.33.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc, through its interest in Station Casinos LLC, develops and operates casino and entertainment properties in the United States. The company owns and operates gaming and entertainment facilities, including Durango Casino & Resort and smaller casinos in the Las Vegas regional market.