Stifel Financial Corp Reduces Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

Stifel Financial Corp lowered its stake in Red Rock Resorts, Inc. (NASDAQ:RRR) by 1.7% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 65,916 shares of the company’s stock after selling 1,150 shares during the quarter. Stifel Financial Corp owned approximately 0.06% of Red Rock Resorts worth $3,588,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Bamco Inc. NY lifted its position in shares of Red Rock Resorts by 1.0% in the third quarter. Bamco Inc. NY now owns 10,623,284 shares of the company’s stock valued at $578,332,000 after acquiring an additional 106,509 shares in the last quarter. Eminence Capital LP lifted its holdings in Red Rock Resorts by 23.7% in the 2nd quarter. Eminence Capital LP now owns 1,952,754 shares of the company’s stock valued at $107,265,000 after purchasing an additional 374,128 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Red Rock Resorts by 3.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,134,509 shares of the company’s stock worth $61,763,000 after purchasing an additional 38,443 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Red Rock Resorts by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 577,108 shares of the company’s stock valued at $31,418,000 after buying an additional 4,810 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Red Rock Resorts by 6.6% during the second quarter. Bank of New York Mellon Corp now owns 404,153 shares of the company’s stock valued at $22,200,000 after buying an additional 24,992 shares during the period. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Price Performance

Red Rock Resorts stock opened at $48.81 on Tuesday. The firm has a fifty day moving average of $51.39 and a 200-day moving average of $53.61. Red Rock Resorts, Inc. has a 52-week low of $47.18 and a 52-week high of $63.28. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The firm has a market capitalization of $5.16 billion, a P/E ratio of 18.08, a PEG ratio of 6.69 and a beta of 2.00.

Red Rock Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Monday, December 16th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 37.04%.

Analyst Upgrades and Downgrades

RRR has been the subject of several recent analyst reports. Mizuho cut shares of Red Rock Resorts from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $57.00 to $44.00 in a research note on Monday, November 25th. Macquarie dropped their target price on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Wells Fargo & Company decreased their price target on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 17th. 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. Finally, Barclays decreased their target price on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.42.

Red Rock Resorts Company 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.