Y Intercept Hong Kong Ltd Purchases New Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

Y Intercept Hong Kong Ltd acquired a new position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,271 shares of the company’s stock, valued at approximately $233,000.

Other hedge funds also recently made changes to their positions in the company. Quarry LP lifted its holdings in shares of Red Rock Resorts by 479.4% in the 3rd quarter. Quarry LP now owns 1,124 shares of the company’s stock valued at $61,000 after purchasing an additional 930 shares during the last quarter. US Bancorp DE increased its position in Red Rock Resorts by 2,223.9% during the third quarter. US Bancorp DE now owns 1,557 shares of the company’s stock worth $85,000 after buying an additional 1,490 shares during the period. Point72 DIFC Ltd purchased a new stake in Red Rock Resorts in the second quarter valued at approximately $98,000. nVerses Capital LLC acquired a new stake in shares of Red Rock Resorts in the second quarter valued at approximately $154,000. Finally, Ritholtz Wealth Management acquired a new stake in shares of Red Rock Resorts in the third quarter valued at approximately $215,000. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Trading Down 5.1 %

NASDAQ:RRR opened at $45.62 on Thursday. Red Rock Resorts, Inc. has a 1 year low of $45.33 and a 1 year high of $63.28. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02. The stock has a fifty day moving average price of $51.16 and a two-hundred day moving average price of $53.53. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 6.69 and a beta of 2.00.

Red Rock Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Monday, December 16th. Red Rock Resorts’s dividend payout ratio (DPR) is 37.04%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wells Fargo & Company cut their target price on shares of Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Macquarie reduced their target price on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Truist Financial lowered their price target on Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating on the stock in a report on Wednesday, October 23rd. Morgan Stanley boosted their price target on Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 4th. Finally, Mizuho cut Red Rock Resorts from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $57.00 to $44.00 in a research report on Monday, November 25th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.42.

About Red Rock Resorts

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.