Westfield Capital Management Co. LP Has $70.06 Million Stake in Red Rock Resorts, Inc. $RRR

Westfield Capital Management Co. LP trimmed its stake in Red Rock Resorts, Inc. (NASDAQ:RRR) by 14.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,147,417 shares of the company’s stock after selling 192,469 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Red Rock Resorts were worth $70,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RRR. AQR Capital Management LLC acquired a new position in Red Rock Resorts in the 1st quarter valued at approximately $308,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Red Rock Resorts by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,272 shares of the company’s stock valued at $1,270,000 after acquiring an additional 1,282 shares in the last quarter. Millennium Management LLC increased its stake in shares of Red Rock Resorts by 56.2% in the first quarter. Millennium Management LLC now owns 430,150 shares of the company’s stock worth $18,656,000 after acquiring an additional 154,839 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Red Rock Resorts by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 106,275 shares of the company’s stock worth $4,609,000 after acquiring an additional 4,699 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in shares of Red Rock Resorts by 4.6% during the second quarter. Teacher Retirement System of Texas now owns 7,751 shares of the company’s stock worth $403,000 after acquiring an additional 340 shares in the last quarter. 47.84% of the stock is owned by hedge funds and other institutional investors.

Red Rock Resorts Price Performance

Shares of Red Rock Resorts stock opened at $61.52 on Thursday. The company has a current ratio of 0.79, a quick ratio of 0.70 and a debt-to-equity ratio of 10.26. The firm has a fifty day simple moving average of $62.76 and a 200-day simple moving average of $60.39. The stock has a market capitalization of $6.51 billion, a price-to-earnings ratio of 19.65, a PEG ratio of 2.55 and a beta of 1.49. Red Rock Resorts, Inc. has a 1-year low of $35.09 and a 1-year high of $68.99.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Tuesday, February 10th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.41 by $0.34. The firm had revenue of $511.78 million for the quarter, compared to the consensus estimate of $500.90 million. Red Rock Resorts had a net margin of 9.35% and a return on equity of 58.13%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.76 EPS. On average, sell-side analysts expect that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current year.

Red Rock Resorts Announces Dividend

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

Analyst Ratings Changes

Several brokerages have weighed in on RRR. UBS Group set a $73.00 target price on Red Rock Resorts in a research report on Wednesday, December 24th. Citigroup boosted their price target on Red Rock Resorts from $63.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Barclays raised their price objective on shares of Red Rock Resorts from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Mizuho set a $77.00 target price on shares of Red Rock Resorts in a research note on Wednesday, February 11th. Finally, Weiss Ratings raised shares of Red Rock Resorts from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $71.15.

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.