Legal & General Group Plc Grows Holdings in Red Rock Resorts, Inc. $RRR

by · The Cerbat Gem

Legal & General Group Plc boosted its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR – Free Report) by 147.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 119,453 shares of the company’s stock after purchasing an additional 71,274 shares during the period. Legal & General Group Plc’s holdings in Red Rock Resorts were worth $7,400,000 as of its most recent SEC filing.

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

Red Rock Resorts Price Performance

RRR opened at $57.39 on Friday. The company has a debt-to-equity ratio of 14.42, a quick ratio of 0.76 and a current ratio of 0.81. The stock has a market capitalization of $6.03 billion, a P/E ratio of 18.45, a P/E/G ratio of 4.30 and a beta of 1.36. The company’s 50-day simple moving average is $55.10 and its two-hundred day simple moving average is $58.78. Red Rock Resorts, Inc. has a 52-week low of $47.56 and a 52-week high of $68.99.

Red Rock Resorts (NASDAQ:RRR – Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.17). The company had revenue of $507.32 million for the quarter, compared to the consensus estimate of $505.63 million. Red Rock Resorts had a net margin of 9.21% and a return on equity of 61.67%. Red Rock Resorts’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 EPS. As a group, analysts predict that Red Rock Resorts, Inc. will post 1.53 EPS for the current year.

Red Rock Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.26 dividend. 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 presently 33.44%.

Wall Street Analyst Weigh In

RRR has been the topic of several recent analyst reports. Citigroup cut their price objective on shares of Red Rock Resorts from $76.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Zacks Research downgraded shares of Red Rock Resorts from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $72.00 price objective on shares of Red Rock Resorts in a research report on Thursday, April 30th. Truist Financial cut their price objective on shares of Red Rock Resorts from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Finally, Wall Street Zen downgraded shares of Red Rock Resorts from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. 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. Based on data from MarketBeat.com, Red Rock Resorts currently has an average rating of “Moderate Buy” and an average target price of $67.53.

Check Out Our Latest Research Report on Red Rock Resorts

About Red Rock Resorts

(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.

Featured Stories

Want to see what other hedge funds are holding RRR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Red Rock Resorts, Inc. (NASDAQ:RRR – Free Report).