Red Rock Resorts Inc (NASDAQ:RRR) Holdings Cut by Nordea Investment Management AB

Nordea Investment Management AB trimmed its position in Red Rock Resorts Inc (NASDAQ:RRR) by 15.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 442,708 shares of the company’s stock after selling 83,897 shares during the period. Nordea Investment Management AB owned approximately 0.38% of Red Rock Resorts worth $8,991,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RRR. Bamco Inc. NY lifted its position in shares of Red Rock Resorts by 1.9% during the 3rd quarter. Bamco Inc. NY now owns 8,260,501 shares of the company’s stock valued at $220,142,000 after acquiring an additional 154,158 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of Red Rock Resorts by 10.6% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 6,572,518 shares of the company’s stock valued at $133,488,000 after acquiring an additional 629,672 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Red Rock Resorts by 9.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,469,688 shares of the company’s stock valued at $172,417,000 after acquiring an additional 552,550 shares during the last quarter. Vanguard Group Inc lifted its position in shares of Red Rock Resorts by 9.3% during the 3rd quarter. Vanguard Group Inc now owns 6,469,688 shares of the company’s stock valued at $172,417,000 after acquiring an additional 552,550 shares during the last quarter. Finally, Cohen & Steers Inc. lifted its position in shares of Red Rock Resorts by 2.9% during the 4th quarter. Cohen & Steers Inc. now owns 5,919,209 shares of the company’s stock valued at $120,219,000 after acquiring an additional 165,784 shares during the last quarter. Hedge funds and other institutional investors own 63.61% of the company’s stock.

In other news, insider Joseph J. Hasson sold 1,500 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 17,260 shares of the company’s stock, valued at $497,605.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph J. Hasson sold 42,293 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 58,921 shares in the company, valued at $1,615,613.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 131,721 shares of company stock worth $3,487,693. Company insiders own 0.40% of the company’s stock.

NASDAQ:RRR traded up $0.04 during trading hours on Wednesday, hitting $27.92. 156,100 shares of the stock traded hands, compared to its average volume of 531,551. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 3.45. Red Rock Resorts Inc has a fifty-two week low of $18.78 and a fifty-two week high of $36.99. The company has a market cap of $3.24 billion, a P/E ratio of 21.31 and a beta of 2.14.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Tuesday, February 12th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.01. Red Rock Resorts had a net margin of 9.37% and a return on equity of 12.06%. The company had revenue of $431.47 million for the quarter, compared to the consensus estimate of $408.61 million. During the same period in the previous year, the business earned $0.35 EPS. The company’s revenue was up 7.8% on a year-over-year basis. Equities research analysts anticipate that Red Rock Resorts Inc will post 1.2 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Wednesday, March 13th. Red Rock Resorts’s dividend payout ratio (DPR) is currently 30.53%.

RRR has been the subject of a number of recent research reports. Nomura increased their price objective on Red Rock Resorts to $32.00 and gave the company a “buy” rating in a research report on Wednesday, February 13th. Deutsche Bank reiterated a “buy” rating and set a $30.00 price objective on shares of Red Rock Resorts in a research report 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 research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $33.20.

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Red Rock Resorts Profile

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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Institutional Ownership by Quarter for Red Rock Resorts (NASDAQ:RRR)

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