Jefferies Financial Group Inc. Invests $911,000 in Red Rock Resorts, Inc. $RRR

by · The Cerbat Gem

Jefferies Financial Group Inc. bought a new position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR – Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 14,700 shares of the company’s stock, valued at approximately $911,000.

A number of other institutional investors also recently modified their holdings of RRR. AQR Capital Management LLC purchased a new stake in shares of Red Rock Resorts during the first quarter worth about $308,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Red Rock Resorts by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,272 shares of the company’s stock worth $1,270,000 after purchasing an additional 1,282 shares during the period. Millennium Management LLC boosted its holdings in shares of Red Rock Resorts by 56.2% during the first quarter. Millennium Management LLC now owns 430,150 shares of the company’s stock worth $18,656,000 after purchasing an additional 154,839 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Red Rock Resorts by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 106,275 shares of the company’s stock worth $4,609,000 after purchasing an additional 4,699 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Red Rock Resorts by 9.1% during the second quarter. American Century Companies Inc. now owns 25,884 shares of the company’s stock worth $1,347,000 after purchasing an additional 2,166 shares during the period. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

Red Rock Resorts Price Performance

RRR stock opened at $58.38 on Friday. Red Rock Resorts, Inc. has a 1 year low of $47.56 and a 1 year high of $68.99. The company has a market cap of $6.13 billion, a P/E ratio of 18.77, a PEG ratio of 4.08 and a beta of 1.35. The firm has a 50-day moving average of $55.22 and a 200 day moving average of $58.82. The company has a debt-to-equity ratio of 14.42, a current ratio of 0.81 and a quick ratio of 0.76.

Red Rock Resorts (NASDAQ:RRR – Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $0.73 earnings per share 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 61.67%. The business had revenue of $507.32 million for the quarter, compared to the consensus estimate of $505.63 million. During the same period in the prior year, the business posted $0.75 EPS. Red Rock Resorts’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, sell-side analysts forecast that Red Rock Resorts, Inc. will post 1.65 EPS for the current year.

Red Rock Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.8%. Red Rock Resorts’s dividend payout ratio (DPR) is currently 33.44%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on RRR shares. Stifel Nicolaus set a $70.00 price target on shares of Red Rock Resorts in a research note on Friday. Jefferies Financial Group decreased their price target on shares of Red Rock Resorts from $79.00 to $74.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Wall Street Zen downgraded shares of Red Rock Resorts from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. decreased their price target on shares of Red Rock Resorts from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Finally, Benchmark decreased their price target on shares of Red Rock Resorts from $67.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Twelve analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.53.

Check Out Our Latest Stock Report on Red Rock Resorts

Red Rock Resorts Profile

(Free Report)

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.

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