Quest Partners LLC Invests $1.03 Million in Red Rock Resorts, Inc. (NASDAQ:RRR)

Quest Partners LLC bought a new position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) during the 3rd quarter, Holdings Channel.com reports. The fund bought 18,890 shares of the company’s stock, valued at approximately $1,028,000.

Other hedge funds also recently made changes to their positions in the company. Covestor Ltd boosted its position in shares of Red Rock Resorts by 16,666.7% during the 1st quarter. Covestor Ltd now owns 503 shares of the company’s stock worth $30,000 after acquiring an additional 500 shares in the last quarter. US Bancorp DE boosted its position in Red Rock Resorts by 2,223.9% in the third quarter. US Bancorp DE now owns 1,557 shares of the company’s stock valued at $85,000 after buying an additional 1,490 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in Red Rock Resorts in the second quarter valued at approximately $98,000. nVerses Capital LLC acquired a new stake in Red Rock Resorts in the second quarter valued at approximately $154,000. Finally, Ritholtz Wealth Management acquired a new stake in Red Rock Resorts in the third quarter valued at approximately $215,000. 47.84% of the stock is owned by institutional investors.

Red Rock Resorts Stock Up 0.3 %

RRR opened at $49.69 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The stock has a market cap of $5.25 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 6.33 and a beta of 2.04. Red Rock Resorts, Inc. has a twelve month low of $43.38 and a twelve month high of $63.28. The company’s 50-day moving average price is $52.90 and its two-hundred day moving average price is $53.67.

Red Rock Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Monday, December 16th. Red Rock Resorts’s payout ratio is 37.04%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on RRR shares. JPMorgan Chase & Co. raised their target price on shares of Red Rock Resorts from $62.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Macquarie cut their target price on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Mizuho reiterated an “outperform” rating and set a $57.00 price target (down previously from $67.00) on shares of Red Rock Resorts in a report on Tuesday, November 12th. JMP Securities reiterated a “market outperform” rating and set a $65.00 price target on shares of Red Rock Resorts in a report on Monday, October 14th. Finally, Barclays cut their price target on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $61.50.

Red Rock Resorts 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.