BlackRock Inc. decreased its position in Red Rock Resorts Inc (NASDAQ:RRR) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,667,597 shares of the company’s stock after selling 93,753 shares during the period. BlackRock Inc. owned 4.00% of Red Rock Resorts worth $94,798,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Bank of Montreal Can boosted its stake in shares of Red Rock Resorts by 47.5% during the 4th quarter. Bank of Montreal Can now owns 1,437 shares of the company’s stock worth $29,000 after acquiring an additional 463 shares during the period. Quantamental Technologies LLC bought a new stake in Red Rock Resorts in the 4th quarter valued at $142,000. MML Investors Services LLC bought a new stake in Red Rock Resorts in the 3rd quarter valued at $203,000. LPL Financial LLC bought a new stake in Red Rock Resorts in the 3rd quarter valued at $213,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Red Rock Resorts in the 3rd quarter valued at $214,000. Institutional investors and hedge funds own 63.61% of the company’s stock.
Shares of NASDAQ RRR traded down $0.67 during trading on Friday, reaching $27.80. The company had a trading volume of 346,925 shares, compared to its average volume of 379,517. Red Rock Resorts Inc has a 12 month low of $18.78 and a 12 month high of $36.99. The firm has a market capitalization of $3.24 billion, a PE ratio of 21.22 and a beta of 2.14. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 3.45.
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 14th were issued a $0.10 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.40 annualized dividend and a yield of 1.44%. Red Rock Resorts’s payout ratio is currently 30.53%.
RRR has been the subject of several recent research reports. Nomura boosted their price target on Red Rock Resorts to $32.00 and gave the company a “buy” rating in a research note on Wednesday, February 13th. Deutsche Bank restated a “buy” rating and issued a $30.00 price target on shares of Red Rock Resorts in a research note on Wednesday, February 13th. BidaskClub upgraded Red Rock Resorts from a “hold” rating to a “buy” rating in a research report on Saturday, January 12th. Finally, Zacks Investment Research downgraded Red Rock Resorts from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 14th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Red Rock Resorts presently has a consensus rating of “Hold” and a consensus price target of $33.20.
In related news, insider Joseph J. Hasson sold 42,293 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $27.42, for a total transaction of $1,159,674.06. Following the completion of the sale, the insider now directly owns 58,921 shares of the company’s stock, valued at $1,615,613.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph J. Hasson sold 1,500 shares of the stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $28.83, for a total value of $43,245.00. Following the sale, the insider now directly owns 17,260 shares of the company’s stock, valued at $497,605.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 131,721 shares of company stock worth $3,487,693. Corporate insiders own 0.40% of the company’s stock.
About Red Rock Resorts
Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.
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