Geode Capital Management LLC Acquires 53,258 Shares of Red Rock Resorts Inc (NASDAQ:RRR)

Geode Capital Management LLC increased its holdings in shares of Red Rock Resorts Inc (NASDAQ:RRR) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 758,541 shares of the company’s stock after buying an additional 53,258 shares during the period. Geode Capital Management LLC’s holdings in Red Rock Resorts were worth $15,405,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of Montreal Can grew its holdings in Red Rock Resorts by 47.5% during the fourth quarter. Bank of Montreal Can now owns 1,437 shares of the company’s stock valued at $29,000 after purchasing an additional 463 shares during the period. Amalgamated Bank acquired a new position in Red Rock Resorts during the fourth quarter valued at approximately $206,000. Massmutual Trust Co. FSB ADV grew its holdings in Red Rock Resorts by 39.2% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 18,626 shares of the company’s stock valued at $378,000 after purchasing an additional 5,244 shares during the period. Metropolitan Life Insurance Co. NY grew its holdings in Red Rock Resorts by 382.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 23,278 shares of the company’s stock valued at $473,000 after purchasing an additional 18,453 shares during the period. Finally, Legal & General Group Plc grew its holdings in Red Rock Resorts by 20.7% during the fourth quarter. Legal & General Group Plc now owns 30,137 shares of the company’s stock valued at $612,000 after purchasing an additional 5,176 shares during the period. 61.84% of the stock is owned by institutional investors and hedge funds.

In related news, insider Joseph J. Hasson sold 12,891 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $23.24, for a total transaction of $299,586.84. Following the completion of the transaction, the insider now owns 12,891 shares in the company, valued at $299,586.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.40% of the stock is owned by corporate insiders.

A number of research analysts recently issued reports on RRR shares. BidaskClub upgraded shares of Red Rock Resorts from a “buy” rating to a “strong-buy” rating in a report on Friday, February 15th. Zacks Investment Research upgraded shares of Red Rock Resorts from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. ValuEngine cut shares of Red Rock Resorts from a “hold” rating to a “sell” rating in a report on Saturday, June 1st. Goldman Sachs Group upgraded shares of Red Rock Resorts from a “neutral” rating to a “buy” rating and reduced their price target for the company from $31.00 to $29.00 in a report on Tuesday. Finally, TheStreet upgraded shares of Red Rock Resorts from a “c+” rating to a “b-” rating in a report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $30.29.

Red Rock Resorts stock opened at $22.79 on Friday. The company has a market capitalization of $2.66 billion, a PE ratio of 17.40 and a beta of 2.27. Red Rock Resorts Inc has a twelve month low of $18.78 and a twelve month high of $36.99. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 3.52.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.16). The company had revenue of $447.00 million during the quarter, compared to analyst estimates of $445.50 million. Red Rock Resorts had a net margin of 6.89% and a return on equity of 10.08%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 EPS. As a group, equities research analysts predict that Red Rock Resorts Inc will post 1 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Thursday, June 13th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 30.53%.

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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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