Quantbot Technologies LP Acquires New Position in Red Rock Resorts, Inc. $RRR

Quantbot Technologies LP acquired a new position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 59,184 shares of the company’s stock, valued at approximately $3,614,000.

A number of other institutional investors also recently bought and sold shares of the company. Bamco Inc. NY grew its stake in shares of Red Rock Resorts by 5.7% in the 2nd quarter. Bamco Inc. NY now owns 12,269,004 shares of the company’s stock valued at $638,356,000 after buying an additional 666,593 shares during the period. Eminence Capital LP raised its position in shares of Red Rock Resorts by 23.4% during the 2nd quarter. Eminence Capital LP now owns 3,059,372 shares of the company’s stock valued at $159,179,000 after buying an additional 581,061 shares during the period. Vanguard Group Inc. lifted its holdings in Red Rock Resorts by 6.7% in the third quarter. Vanguard Group Inc. now owns 5,564,421 shares of the company’s stock valued at $339,764,000 after acquiring an additional 349,822 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in Red Rock Resorts by 53.8% in the second quarter. Balyasny Asset Management L.P. now owns 793,371 shares of the company’s stock valued at $41,279,000 after acquiring an additional 277,426 shares during the last quarter. Finally, Armistice Capital LLC purchased a new position in Red Rock Resorts in the second quarter worth approximately $8,386,000. 47.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wells Fargo & Company raised their target price on Red Rock Resorts from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 11th. Susquehanna raised their price objective on Red Rock Resorts from $69.00 to $77.00 and gave the stock a “positive” rating in a research report on Wednesday, February 11th. UBS Group set a $73.00 target price on shares of Red Rock Resorts in a research report on Wednesday, December 24th. Morgan Stanley set a $62.00 target price on shares of Red Rock Resorts in a research note on Thursday, February 12th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $79.00 price target on shares of Red Rock Resorts in a research report on Wednesday, February 11th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Red Rock Resorts has an average rating of “Moderate Buy” and an average target price of $71.15.

Red Rock Resorts Stock Down 3.2%

Shares of RRR opened at $60.55 on Monday. The stock has a market capitalization of $6.36 billion, a PE ratio of 19.35, a P/E/G ratio of 2.50 and a beta of 1.46. Red Rock Resorts, Inc. has a 1 year low of $35.09 and a 1 year high of $68.99. The company has a debt-to-equity ratio of 10.26, a quick ratio of 0.74 and a current ratio of 0.79. The company’s 50-day simple moving average is $62.70 and its 200-day simple moving average is $60.42.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Tuesday, February 10th. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.34. Red Rock Resorts had a net margin of 9.35% and a return on equity of 58.13%. The firm had revenue of $511.78 million during the quarter, compared to analysts’ expectations of $500.90 million. During the same quarter in the previous year, the business posted $0.76 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. Analysts forecast that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a $0.26 dividend. The ex-dividend date is Monday, March 16th. This represents a $1.04 annualized dividend and a dividend yield of 1.7%. Red Rock Resorts’s payout ratio is 33.23%.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.