Fmr LLC Sells 484,824 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Fmr LLC decreased its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 9.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,549,267 shares of the company’s stock after selling 484,824 shares during the quarter. Fmr LLC owned approximately 4.31% of Red Rock Resorts worth $247,662,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. US Bancorp DE lifted its holdings in Red Rock Resorts by 2,223.9% during the third quarter. US Bancorp DE now owns 1,557 shares of the company’s stock valued at $85,000 after purchasing an additional 1,490 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Red Rock Resorts during the 2nd quarter valued at approximately $98,000. nVerses Capital LLC bought a new position in Red Rock Resorts in the 2nd quarter worth approximately $154,000. Ritholtz Wealth Management purchased a new position in Red Rock Resorts in the 3rd quarter valued at approximately $215,000. Finally, Mayfair Advisory Group LLC bought a new stake in Red Rock Resorts during the 3rd quarter valued at $218,000. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Stock Performance

Red Rock Resorts stock opened at $50.09 on Monday. Red Rock Resorts, Inc. has a fifty-two week low of $43.38 and a fifty-two week high of $63.28. The firm’s fifty day moving average price is $52.39 and its 200-day moving average price is $53.60. The stock has a market cap of $5.29 billion, a P/E ratio of 18.55, a price-to-earnings-growth ratio of 6.21 and a beta of 2.04. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02.

Red Rock Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 2.00%. The ex-dividend date is Monday, December 16th. Red Rock Resorts’s dividend payout ratio (DPR) is currently 37.04%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RRR. Barclays cut their price target on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Wells Fargo & Company cut their target price on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. Morgan Stanley upped their price target on Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 4th. Truist Financial lowered their price target on shares of Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating on the stock in a report on Wednesday, October 23rd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $65.00 price objective on shares of Red Rock Resorts in a research note on Monday, October 14th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.42.

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.