Bank of New York Mellon Corp Boosts Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

Bank of New York Mellon Corp boosted its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR) by 8.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 397,771 shares of the company’s stock after buying an additional 31,858 shares during the period. Bank of New York Mellon Corp’s holdings in Red Rock Resorts were worth $18,393,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Quarry LP raised its holdings in Red Rock Resorts by 479.4% in the third quarter. Quarry LP now owns 1,124 shares of the company’s stock valued at $61,000 after acquiring an additional 930 shares in the last quarter. US Bancorp DE raised its holdings 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 acquiring an additional 1,490 shares in the last quarter. KBC Group NV raised its holdings in Red Rock Resorts by 37.1% in the fourth quarter. KBC Group NV now owns 1,996 shares of the company’s stock valued at $92,000 after acquiring an additional 540 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Red Rock Resorts in the third quarter valued at $233,000. Finally, Mayfair Advisory Group LLC raised its holdings in Red Rock Resorts by 15.1% in the fourth quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock valued at $208,000 after acquiring an additional 591 shares in the last quarter. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Wall Street Analysts Forecast Growth

RRR has been the topic of several recent analyst reports. Mizuho upped their price target on shares of Red Rock Resorts from $44.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Susquehanna upped their price target on shares of Red Rock Resorts from $60.00 to $61.00 and gave the company a “positive” rating in a report on Wednesday, February 12th. Stifel Nicolaus boosted their target price on shares of Red Rock Resorts from $50.00 to $54.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Jefferies Financial Group reiterated a “hold” rating and set a $51.00 target price (down previously from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Finally, JMP Securities lowered their target price on shares of Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating for the company in a research note on Thursday, January 16th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Red Rock Resorts has a consensus rating of “Hold” and a consensus target price of $57.33.

Red Rock Resorts Stock Down 3.0 %

Red Rock Resorts stock opened at $43.13 on Wednesday. The company has a 50-day simple moving average of $48.14 and a 200-day simple moving average of $50.65. The firm has a market capitalization of $4.57 billion, a P/E ratio of 17.18, a P/E/G ratio of 4.32 and a beta of 2.01. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02. Red Rock Resorts, Inc. has a one year low of $42.33 and a one year high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. As a group, equities analysts expect that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 annualized dividend and a dividend yield of 2.32%. Red Rock Resorts’s dividend payout ratio is currently 39.84%.

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.