Edgestream Partners L.P. Has $2.01 Million Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

Edgestream Partners L.P. grew its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 76.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,602 shares of the company’s stock after acquiring an additional 15,911 shares during the quarter. Edgestream Partners L.P.’s holdings in Red Rock Resorts were worth $2,011,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of RRR. Sequoia Financial Advisors LLC raised its holdings in Red Rock Resorts by 3.8% during the second quarter. Sequoia Financial Advisors LLC now owns 8,042 shares of the company’s stock worth $442,000 after buying an additional 292 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Red Rock Resorts by 3.3% in the 2nd quarter. Arizona State Retirement System now owns 14,086 shares of the company’s stock worth $774,000 after acquiring an additional 444 shares during the last quarter. Covestor Ltd lifted its position in Red Rock Resorts by 16,666.7% in the 1st quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $30,000 after acquiring an additional 500 shares in the last quarter. ProShare Advisors LLC boosted its stake in Red Rock Resorts by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 8,559 shares of the company’s stock valued at $512,000 after purchasing an additional 674 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in Red Rock Resorts by 9.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 9,388 shares of the company’s stock worth $562,000 after purchasing an additional 830 shares in the last quarter. 47.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RRR has been the subject of a number of analyst reports. Wells Fargo & Company lowered Red Rock Resorts from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $63.00 to $64.00 in a research report on Wednesday, July 24th. Barclays increased their target price on shares of Red Rock Resorts from $63.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Stifel Nicolaus boosted their price target on shares of Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of Red Rock Resorts from $62.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley lifted their target price on shares of Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 4th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $63.50.

Insider Activity at Red Rock Resorts

In related news, VP Lorenzo J. Fertitta purchased 33,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was purchased at an average cost of $54.49 per share, with a total value of $1,798,170.00. Following the completion of the acquisition, the vice president now directly owns 47,480,301 shares of the company’s stock, valued at $2,587,201,601.49. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, VP Lorenzo J. Fertitta purchased 33,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were purchased at an average cost of $54.49 per share, with a total value of $1,798,170.00. Following the completion of the acquisition, the vice president now owns 47,480,301 shares in the company, valued at approximately $2,587,201,601.49. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Kord Nichols sold 49,464 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $58.00, for a total transaction of $2,868,912.00. Following the transaction, the chief operating officer now directly owns 71,946 shares of the company’s stock, valued at approximately $4,172,868. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 200,000 shares of company stock worth $10,426,000. Corporate insiders own 53.28% of the company’s stock.

Red Rock Resorts Stock Up 0.7 %

Shares of NASDAQ RRR opened at $54.23 on Friday. The company has a debt-to-equity ratio of 15.15, a current ratio of 0.94 and a quick ratio of 0.89. The stock has a market capitalization of $5.73 billion, a PE ratio of 18.83, a P/E/G ratio of 5.36 and a beta of 2.04. Red Rock Resorts, Inc. has a one year low of $37.82 and a one year high of $63.28. The business’s fifty day moving average price is $56.10 and its 200-day moving average price is $55.31.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.43 by $0.16. The business had revenue of $486.40 million for the quarter, compared to the consensus estimate of $475.80 million. Red Rock Resorts had a net margin of 9.21% and a return on equity of 83.84%. The company’s revenue was up 16.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 earnings per share. On average, equities research analysts anticipate that Red Rock Resorts, Inc. will post 1.61 EPS for the current year.

Red Rock Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.84%. Red Rock Resorts’s dividend payout ratio is 34.72%.

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.