Ring Mountain Capital LLC Takes $487,000 Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

Ring Mountain Capital LLC acquired a new position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 10,538 shares of the company’s stock, valued at approximately $487,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bamco Inc. NY raised its position in shares of Red Rock Resorts by 1.0% during the third 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 period. Vaughan Nelson Investment Management L.P. raised its position in shares of Red Rock Resorts by 20.6% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,344,058 shares of the company’s stock worth $62,149,000 after purchasing an additional 229,843 shares during the period. Geode Capital Management LLC raised its position in shares of Red Rock Resorts by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,171,267 shares of the company’s stock worth $63,776,000 after purchasing an additional 14,029 shares during the period. Westfield Capital Management Co. LP raised its position 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 worth $61,763,000 after purchasing an additional 38,443 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Red Rock Resorts by 7.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 621,151 shares of the company’s stock worth $28,722,000 after purchasing an additional 44,043 shares during the period. 47.84% of the stock is currently owned by institutional investors.

Red Rock Resorts Stock Down 1.8 %

RRR stock opened at $49.06 on Tuesday. 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 business has a 50 day moving average price of $48.15 and a two-hundred day moving average price of $51.04. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 4.32 and a beta of 2.02. Red Rock Resorts, Inc. has a twelve month low of $42.46 and a twelve month high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Tuesday, February 11th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. Analysts anticipate that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, March 17th. This represents a $1.00 annualized dividend and a dividend yield of 2.04%. Red Rock Resorts’s dividend payout ratio is currently 39.84%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RRR shares. Mizuho increased their price objective on Red Rock Resorts from $44.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Barclays decreased their price objective 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. Jefferies Financial Group reiterated a “hold” rating and set a $51.00 price objective (down from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. Susquehanna increased their price objective on Red Rock Resorts from $60.00 to $61.00 and gave the stock a “positive” rating in a report on Wednesday, February 12th. Finally, Stifel Nicolaus increased their price objective on Red Rock Resorts from $50.00 to $54.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $57.33.

Red Rock Resorts 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.