Y Intercept Hong Kong Ltd Takes $233,000 Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

Y Intercept Hong Kong Ltd acquired a new position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 4,271 shares of the company’s stock, valued at approximately $233,000.

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

Red Rock Resorts Stock Performance

Shares of RRR stock opened at $45.62 on Thursday. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. The company has a market cap of $4.82 billion, a PE ratio of 16.90, a P/E/G ratio of 6.69 and a beta of 2.00. The company’s fifty day simple moving average is $51.16 and its 200-day simple moving average is $53.53. Red Rock Resorts, Inc. has a 52 week low of $45.33 and a 52 week high of $63.28.

Red Rock Resorts Dividend Announcement

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 paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Monday, December 16th. Red Rock Resorts’s dividend payout ratio is presently 37.04%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RRR shares. Mizuho lowered Red Rock Resorts from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $57.00 to $44.00 in a research note on Monday, November 25th. 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 report on Wednesday, September 4th. JMP Securities restated a “market outperform” rating and issued a $65.00 price target on shares of Red Rock Resorts in a report on Monday, October 14th. Wells Fargo & Company cut their price objective on shares of 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. Finally, Truist Financial decreased their target price on shares of Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Red Rock Resorts currently has an average rating of “Moderate Buy” and a consensus 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.