American Century Companies Inc. Increases Stock Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

American Century Companies Inc. boosted its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 9.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,521 shares of the company’s stock after acquiring an additional 3,084 shares during the period. American Century Companies Inc.’s holdings in Red Rock Resorts were worth $1,896,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd increased its stake in shares of Red Rock Resorts by 16,666.7% during the first quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $30,000 after buying an additional 500 shares during the period. Headlands Technologies LLC purchased a new position in shares of Red Rock Resorts in the first quarter worth about $78,000. nVerses Capital LLC purchased a new position in shares of Red Rock Resorts in the second quarter worth about $154,000. SG Americas Securities LLC purchased a new position in shares of Red Rock Resorts in the first quarter worth about $236,000. Finally, Virtu Financial LLC purchased a new position in Red Rock Resorts during the fourth quarter valued at approximately $212,000. 47.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RRR shares. Susquehanna lifted their price target on Red Rock Resorts from $63.00 to $70.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. Macquarie boosted their price objective on Red Rock Resorts from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Wells Fargo & Company downgraded Red Rock Resorts from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $63.00 to $64.00 in a report on Wednesday, July 24th. Barclays increased their price objective on Red Rock Resorts from $63.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Truist Financial decreased their target price on Red Rock Resorts from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $63.50.

Red Rock Resorts Trading Up 0.6 %

Shares of RRR opened at $54.70 on Friday. The stock’s 50-day moving average is $55.31 and its two-hundred day moving average is $55.15. The stock has a market cap of $5.78 billion, a PE ratio of 18.99, a P/E/G ratio of 5.40 and a beta of 2.04. Red Rock Resorts, Inc. has a 12 month low of $37.82 and a 12 month high of $63.28. The company has a debt-to-equity ratio of 15.15, a current ratio of 0.94 and a quick ratio of 0.89.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.16. The firm had revenue of $486.40 million during the quarter, compared to analyst estimates of $475.80 million. Red Rock Resorts had a return on equity of 83.84% and a net margin of 9.21%. Red Rock Resorts’s quarterly revenue was up 16.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 earnings per share. Equities analysts forecast that Red Rock Resorts, Inc. will post 1.66 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The business also recently announced 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. 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 1.83%. Red Rock Resorts’s payout ratio is currently 34.72%.

Insider Transactions at Red Rock Resorts

In other news, CEO Frank J. Fertitta III bought 67,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was purchased at an average cost of $54.49 per share, for a total transaction of $3,650,830.00. Following the completion of the transaction, the chief executive officer now directly owns 45,914,301 shares of the company’s stock, valued at approximately $2,501,870,261.49. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Frank J. Fertitta III bought 67,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were bought at an average cost of $54.49 per share, with a total value of $3,650,830.00. Following the purchase, the chief executive officer now directly owns 45,914,301 shares in the company, valued at $2,501,870,261.49. The transaction was disclosed in a legal 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 on Monday, July 29th. The stock was sold at an average price of $58.00, for a total transaction of $2,868,912.00. Following the completion of 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. Over the last three months, insiders acquired 200,000 shares of company stock worth $10,426,000. Company insiders own 53.28% of the company’s stock.

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.