Avior Wealth Management LLC Raises Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

Avior Wealth Management LLC grew its stake in Red Rock Resorts, Inc. (NASDAQ:RRR) by 3.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,898 shares of the company’s stock after purchasing an additional 232 shares during the period. Avior Wealth Management LLC’s holdings in Red Rock Resorts were worth $430,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Covestor Ltd lifted its position in Red Rock Resorts by 16,666.7% in the first quarter. Covestor Ltd now owns 503 shares of the company’s stock worth $30,000 after buying an additional 500 shares during the last quarter. US Bancorp DE raised its stake in shares of Red Rock Resorts by 2,223.9% in the third quarter. US Bancorp DE now owns 1,557 shares of the company’s stock valued at $85,000 after acquiring an additional 1,490 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of Red Rock Resorts in the second quarter valued at $98,000. nVerses Capital LLC bought a new stake in shares of Red Rock Resorts in the 2nd quarter worth about $154,000. Finally, Mayfair Advisory Group LLC purchased a new position in shares of Red Rock Resorts during the 3rd quarter worth about $218,000. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Stock Performance

RRR stock opened at $50.03 on Friday. Red Rock Resorts, Inc. has a 1-year low of $43.38 and a 1-year high of $63.28. The business has a 50-day moving average price of $52.83 and a 200 day moving average price of $53.65. The company has a market capitalization of $5.28 billion, a P/E ratio of 18.53, a PEG ratio of 6.16 and a beta of 2.04. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96.

Red Rock Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.25 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.00 annualized dividend and a dividend yield of 2.00%. Red Rock Resorts’s dividend payout ratio is currently 37.04%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. JMP Securities reissued a “market outperform” rating and issued a $65.00 price objective on shares of Red Rock Resorts in a research report on Monday, October 14th. Wells Fargo & Company reduced their price target on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Mizuho restated an “outperform” rating and set a $57.00 price objective (down previously from $67.00) on shares of Red Rock Resorts in a report on Tuesday, November 12th. Morgan Stanley increased their target price on Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. Finally, Macquarie decreased their target price on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Red Rock Resorts currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.50.

About Red Rock Resorts

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.