Red Rock Resorts, Inc. (NASDAQ:RRR) Shares Sold by TD Asset Management Inc

TD Asset Management Inc lessened its holdings in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 1.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,006 shares of the company’s stock after selling 600 shares during the quarter. TD Asset Management Inc’s holdings in Red Rock Resorts were worth $1,923,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its stake in Red Rock Resorts by 4.3% during the 2nd quarter. Rhumbline Advisers now owns 76,663 shares of the company’s stock worth $4,211,000 after purchasing an additional 3,146 shares during the last quarter. Versor Investments LP purchased a new position in shares of Red Rock Resorts during the 2nd quarter worth $588,000. Natixis Advisors LLC raised its holdings in shares of Red Rock Resorts by 25.9% during the 2nd quarter. Natixis Advisors LLC now owns 227,145 shares of the company’s stock worth $12,477,000 after acquiring an additional 46,792 shares during the period. nVerses Capital LLC purchased a new position in shares of Red Rock Resorts during the 2nd quarter worth $154,000. Finally, Hantz Financial Services Inc. purchased a new position in shares of Red Rock Resorts during the 2nd quarter worth $14,384,000. Institutional investors and hedge funds own 47.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on RRR. Morgan Stanley lifted their price target on Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 4th. Macquarie boosted their price objective on shares of Red Rock Resorts from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Barclays boosted their price objective 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. Wells Fargo & Company lowered shares of Red Rock Resorts from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $63.00 to $64.00 in a report on Wednesday, July 24th. Finally, Truist Financial reduced their price objective on shares of Red Rock Resorts from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.50.

Red Rock Resorts Stock Performance

Shares of RRR opened at $54.20 on Friday. The stock has a 50 day moving average price of $56.26 and a 200 day moving average price of $55.39. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 15.15. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 5.34 and a beta of 2.04. Red Rock Resorts, Inc. has a 52-week low of $37.82 and a 52-week high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.16. The firm had revenue of $486.40 million during the quarter, compared to the consensus estimate of $475.80 million. Red Rock Resorts had a return on equity of 83.84% and a net margin of 9.21%. The firm’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 earnings per share. Research analysts predict that Red Rock Resorts, Inc. will post 1.62 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Monday, September 16th. Red Rock Resorts’s dividend payout ratio is currently 34.72%.

Insider Buying and Selling at Red Rock Resorts

In other news, VP Lorenzo J. Fertitta acquired 33,000 shares of Red Rock Resorts stock in a transaction on Thursday, August 1st. The stock was bought at an average price of $54.49 per share, for a total transaction of $1,798,170.00. Following the completion of the purchase, the vice president now owns 47,480,301 shares in the company, valued at $2,587,201,601.49. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 acquired at an average price of $54.49 per share, for a total transaction of $1,798,170.00. Following the completion of the purchase, 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 filing with the SEC, which can be accessed through this link. 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 sale, the chief operating officer now owns 71,946 shares of the company’s stock, valued at approximately $4,172,868. The disclosure for this sale can be found here. Over the last quarter, insiders bought 200,000 shares of company stock worth $10,426,000. 53.28% of the stock is owned by insiders.

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.