Geode Capital Management LLC Buys 14,029 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Geode Capital Management LLC lifted its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 1.2% in the third quarter, HoldingsChannel.com reports. The fund owned 1,171,267 shares of the company’s stock after acquiring an additional 14,029 shares during the quarter. Geode Capital Management LLC’s holdings in Red Rock Resorts were worth $63,776,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RRR. GSA Capital Partners LLP purchased a new stake in Red Rock Resorts during the third quarter valued at about $842,000. Westfield Capital Management Co. LP lifted its position in Red Rock Resorts by 3.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,134,509 shares of the company’s stock worth $61,763,000 after buying an additional 38,443 shares during the last quarter. Nicholas Investment Partners LP purchased a new stake in Red Rock Resorts in the second quarter worth approximately $5,336,000. Seven Eight Capital LP boosted its stake in Red Rock Resorts by 477.5% in the second quarter. Seven Eight Capital LP now owns 28,914 shares of the company’s stock worth $1,588,000 after buying an additional 23,907 shares in the last quarter. Finally, Versor Investments LP purchased a new position in shares of Red Rock Resorts during the second quarter worth approximately $588,000. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

Red Rock Resorts Price Performance

Shares of RRR stock opened at $45.78 on Friday. 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, Inc. has a fifty-two week low of $44.94 and a fifty-two week high of $63.28. The firm has a market cap of $4.84 billion, a P/E ratio of 16.96, a P/E/G ratio of 6.69 and a beta of 2.00. The business’s 50 day moving average price is $50.89 and its 200-day moving average price is $53.43.

Red Rock Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Monday, December 16th. Red Rock Resorts’s dividend payout ratio (DPR) is currently 37.04%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $65.00 price objective on shares of Red Rock Resorts in a research note on Monday, October 14th. Truist Financial cut their price target on shares of 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. Mizuho downgraded Red Rock Resorts from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $57.00 to $44.00 in a report on Monday, November 25th. Morgan Stanley increased their target price on Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Wednesday, September 4th. Finally, Macquarie decreased their price target on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Six investment 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.com, Red Rock Resorts presently has a consensus 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.