State of New Jersey Common Pension Fund D Reduces Stock Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

State of New Jersey Common Pension Fund D cut its holdings in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 7.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,421 shares of the company’s stock after selling 2,652 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Red Rock Resorts were worth $1,928,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of RRR. SG Americas Securities LLC bought a new stake in shares of Red Rock Resorts in the 1st quarter valued at approximately $236,000. ProShare Advisors LLC boosted its position in Red Rock Resorts by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 8,559 shares of the company’s stock worth $512,000 after acquiring an additional 674 shares during the period. Vanguard Group Inc. boosted its position in Red Rock Resorts by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 5,136,942 shares of the company’s stock worth $307,292,000 after acquiring an additional 209,593 shares during the period. Edgestream Partners L.P. acquired a new position in Red Rock Resorts during the 1st quarter worth $1,238,000. Finally, Covestor Ltd boosted its position in Red Rock Resorts by 16,666.7% during the 1st quarter. Covestor Ltd now owns 503 shares of the company’s stock worth $30,000 after acquiring an additional 500 shares during the period. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

Red Rock Resorts Stock Performance

RRR stock opened at $50.84 on Monday. The business’s fifty day moving average is $53.15 and its 200-day moving average is $53.76. The company has a quick ratio of 0.89, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The company has a market cap of $5.37 billion, a P/E ratio of 18.83, a price-to-earnings-growth ratio of 6.33 and a beta of 2.04. Red Rock Resorts, Inc. has a twelve month low of $43.08 and a twelve month high of $63.28.

Red Rock Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Monday, December 16th. Red Rock Resorts’s payout ratio is presently 37.04%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RRR. Susquehanna upped their price objective on Red Rock Resorts from $63.00 to $70.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. Barclays lowered their price objective on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Stifel Nicolaus boosted their price objective on Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Mizuho reissued an “outperform” rating and set a $57.00 price objective (down previously from $67.00) on shares of Red Rock Resorts in a research report on Tuesday, November 12th. Finally, Truist Financial cut their price objective on Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Red Rock Resorts has a consensus rating of “Moderate Buy” and a consensus target price of $61.50.

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.