Nisa Investment Advisors LLC Has $979,000 Stake in Red Rock Resorts, Inc. (NASDAQ:RRR)

Nisa Investment Advisors LLC lowered its stake in Red Rock Resorts, Inc. (NASDAQ:RRR) by 5.5% in the second quarter, Holdings Channel reports. The fund owned 17,830 shares of the company’s stock after selling 1,044 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Red Rock Resorts were worth $979,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Red Rock Resorts by 7.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,071 shares of the company’s stock valued at $644,000 after buying an additional 870 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Red Rock Resorts by 11.7% during the 4th quarter. New York State Common Retirement Fund now owns 21,206 shares of the company’s stock valued at $1,131,000 after acquiring an additional 2,226 shares in the last quarter. Truist Financial Corp boosted its holdings in shares of Red Rock Resorts by 2.4% during the 4th quarter. Truist Financial Corp now owns 26,837 shares of the company’s stock valued at $1,431,000 after acquiring an additional 627 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Red Rock Resorts by 21.3% in the 4th quarter. Russell Investments Group Ltd. now owns 21,686 shares of the company’s stock worth $1,157,000 after purchasing an additional 3,810 shares in the last quarter. Finally, Kestra Private Wealth Services LLC raised its position in Red Rock Resorts by 5.1% in the fourth quarter. Kestra Private Wealth Services LLC now owns 29,000 shares of the company’s stock valued at $1,547,000 after purchasing an additional 1,412 shares during the last quarter. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Truist Financial reduced their price target on Red Rock Resorts from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Stifel Nicolaus upped their price target on shares of Red Rock Resorts from $59.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Macquarie raised their price target on shares of Red Rock Resorts from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Barclays boosted their price objective on shares of Red Rock Resorts from $63.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. raised their target price on Red Rock Resorts from $62.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $63.33.

Red Rock Resorts Stock Performance

RRR stock opened at $54.82 on Friday. The firm has a market cap of $5.79 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 5.44 and a beta of 2.04. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 15.15. The stock has a 50-day moving average price of $55.31 and a 200-day moving average price of $55.55. Red Rock Resorts, Inc. has a 1-year low of $37.82 and a 1-year high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Tuesday, July 23rd. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.16. Red Rock Resorts had a return on equity of 83.84% and a net margin of 9.21%. The business had revenue of $486.40 million during the quarter, compared to the consensus estimate of $475.80 million. During the same period in the previous year, the company posted $0.65 earnings per share. The firm’s revenue for the quarter was up 16.9% on a year-over-year basis. As a group, equities research analysts expect that Red Rock Resorts, Inc. will post 1.66 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.25 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.00 annualized dividend and a dividend yield of 1.82%. Red Rock Resorts’s dividend payout ratio is currently 34.72%.

Insider Activity at Red Rock Resorts

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

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.