Red Rock Resorts, Inc. (NASDAQ:RRR) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp decreased its position in Red Rock Resorts, Inc. (NASDAQ:RRR) by 3.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 59,763 shares of the company’s stock after selling 2,000 shares during the period. King Luther Capital Management Corp’s holdings in Red Rock Resorts were worth $3,187,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Core Wealth Partners LLC bought a new stake in Red Rock Resorts in the fourth quarter worth about $213,000. Valeo Financial Advisors LLC bought a new stake in shares of Red Rock Resorts in the 4th quarter worth approximately $255,000. VELA Investment Management LLC acquired a new stake in Red Rock Resorts during the fourth quarter valued at approximately $256,000. Institute for Wealth Management LLC. boosted its holdings in Red Rock Resorts by 4.2% during the fourth quarter. Institute for Wealth Management LLC. now owns 7,557 shares of the company’s stock worth $403,000 after buying an additional 308 shares in the last quarter. Finally, Avior Wealth Management LLC grew its position in Red Rock Resorts by 4.3% in the fourth quarter. Avior Wealth Management LLC now owns 9,941 shares of the company’s stock worth $530,000 after buying an additional 408 shares during the last quarter. Institutional investors own 47.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RRR. Wells Fargo & Company reduced their price objective on Red Rock Resorts from $66.00 to $63.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. Barclays dropped their price target on Red Rock Resorts from $64.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 8th. Stifel Nicolaus reduced their price objective on shares of Red Rock Resorts from $61.00 to $59.00 and set a “hold” rating for the company in a research note on Wednesday, May 8th. Morgan Stanley lifted their target price on shares of Red Rock Resorts from $51.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Bank of America upgraded shares of Red Rock Resorts from an “underperform” rating to a “neutral” rating and reduced their price target for the company from $57.00 to $55.00 in a research report on Monday, May 13th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $61.58.

Insider Activity at Red Rock Resorts

In other Red Rock Resorts news, CEO Frank J. Fertitta III sold 800,000 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $50.39, for a total transaction of $40,312,000.00. Following the transaction, the chief executive officer now owns 45,847,301 shares in the company, valued at $2,310,245,497.39. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 53.28% of the stock is owned by company insiders.

Red Rock Resorts Stock Up 1.8 %

RRR traded up $0.87 during midday trading on Friday, hitting $49.44. 41,417 shares of the company’s stock traded hands, compared to its average volume of 444,426. The company has a debt-to-equity ratio of 18.49, a current ratio of 0.90 and a quick ratio of 0.85. The company has a market cap of $5.20 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 2.33 and a beta of 2.08. Red Rock Resorts, Inc. has a one year low of $37.82 and a one year high of $63.28. The stock’s fifty day simple moving average is $56.24 and its 200-day simple moving average is $53.21.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.18. Red Rock Resorts had a net margin of 9.79% and a return on equity of 98.44%. The firm had revenue of $488.90 million during the quarter, compared to analysts’ expectations of $490.49 million. During the same period in the prior year, the company posted $0.75 earnings per share. Red Rock Resorts’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, equities analysts anticipate that Red Rock Resorts, Inc. will post 1.83 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, June 14th. Red Rock Resorts’s payout ratio is 34.72%.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc, through its interest in Station Casinos LLC, develops and operates casino and entertainment properties in the United States. The company owns and operates gaming and entertainment facilities, including Durango Casino & Resort and smaller casinos in the Las Vegas regional market.