Dimensional Fund Advisors LP boosted its stake in shares of Red Rock Resorts Inc (NASDAQ:RRR) by 2.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 671,700 shares of the company’s stock after purchasing an additional 15,763 shares during the period. Dimensional Fund Advisors LP owned approximately 0.58% of Red Rock Resorts worth $13,642,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in RRR. Vanguard Group Inc raised its position in Red Rock Resorts by 9.3% during the third quarter. Vanguard Group Inc now owns 6,469,688 shares of the company’s stock worth $172,417,000 after acquiring an additional 552,550 shares during the period. Deutsche Bank AG raised its position in Red Rock Resorts by 59.7% during the third quarter. Deutsche Bank AG now owns 665,463 shares of the company’s stock worth $17,733,000 after acquiring an additional 248,732 shares during the period. Man Group plc raised its position in Red Rock Resorts by 106.9% during the third quarter. Man Group plc now owns 50,688 shares of the company’s stock worth $1,351,000 after acquiring an additional 26,185 shares during the period. Marshall Wace LLP raised its position in Red Rock Resorts by 81.7% during the third quarter. Marshall Wace LLP now owns 1,131,876 shares of the company’s stock worth $30,164,000 after acquiring an additional 509,081 shares during the period. Finally, BlackRock Inc. raised its position in Red Rock Resorts by 4.1% during the third quarter. BlackRock Inc. now owns 4,761,350 shares of the company’s stock worth $126,890,000 after acquiring an additional 185,448 shares during the period. 63.42% of the stock is currently owned by institutional investors and hedge funds.
RRR stock traded down $0.02 during mid-day trading on Friday, hitting $25.14. 520,181 shares of the company were exchanged, compared to its average volume of 429,557. The firm has a market cap of $2.93 billion, a PE ratio of 19.19 and a beta of 2.11. Red Rock Resorts Inc has a 12-month low of $18.78 and a 12-month high of $36.99. The company has a debt-to-equity ratio of 3.52, a current ratio of 0.86 and a quick ratio of 0.74.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, June 13th. This represents a $0.40 annualized dividend and a dividend yield of 1.59%. Red Rock Resorts’s dividend payout ratio is presently 30.53%.
In related news, insider Joseph J. Hasson sold 42,293 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $27.42, for a total value of $1,159,674.06. Following the sale, the insider now owns 58,921 shares of the company’s stock, valued at $1,615,613.82. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph J. Hasson sold 31,628 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $26.42, for a total transaction of $835,611.76. Following the completion of the sale, the insider now directly owns 13,921 shares in the company, valued at approximately $367,792.82. The disclosure for this sale can be found here. Insiders have sold 131,721 shares of company stock worth $3,487,693 in the last three months. Corporate insiders own 0.40% of the company’s stock.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research cut shares of Red Rock Resorts from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 14th. BidaskClub cut shares of Red Rock Resorts from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 6th. Deutsche Bank reissued a “buy” rating and issued a $30.00 price objective on shares of Red Rock Resorts in a report on Wednesday, February 13th. TheStreet raised shares of Red Rock Resorts from a “c+” rating to a “b-” rating in a report on Friday, April 26th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $26.00 price objective (down previously from $28.00) on shares of Red Rock Resorts in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $30.80.
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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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