VIRGINIA RETIREMENT SYSTEMS ET Al Invests $2.71 Million in Red Rock Resorts, Inc. $RRR

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Red Rock Resorts, Inc. (NASDAQ:RRR) in the 4th quarter, Holdings Channel reports. The firm purchased 43,700 shares of the company’s stock, valued at approximately $2,707,000.

Other hedge funds have also recently modified their holdings of the company. Salomon & Ludwin LLC purchased a new position in shares of Red Rock Resorts in the fourth quarter worth $25,000. Strs Ohio purchased a new position in shares of Red Rock Resorts in the third quarter worth $37,000. GAMMA Investing LLC raised its stake in shares of Red Rock Resorts by 53.8% in the fourth quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock worth $47,000 after purchasing an additional 263 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Red Rock Resorts in the second quarter worth $94,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Red Rock Resorts by 1,385.7% in the second quarter. Russell Investments Group Ltd. now owns 1,872 shares of the company’s stock worth $97,000 after purchasing an additional 1,746 shares during the last quarter. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Price Performance

Shares of NASDAQ:RRR opened at $51.56 on Friday. The firm’s 50 day moving average price is $56.03 and its 200-day moving average price is $58.88. Red Rock Resorts, Inc. has a twelve month low of $44.28 and a twelve month high of $68.99. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 14.42. The stock has a market capitalization of $5.42 billion, a PE ratio of 16.58, a price-to-earnings-growth ratio of 3.43 and a beta of 1.35.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.17). Red Rock Resorts had a return on equity of 61.67% and a net margin of 9.21%.The company had revenue of $507.32 million during the quarter, compared to analysts’ expectations of $505.63 million. During the same quarter in the previous year, the company earned $0.75 EPS. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities research analysts expect that Red Rock Resorts, Inc. will post 1.73 EPS for the current year.

Red Rock Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. Red Rock Resorts’s dividend payout ratio (DPR) is 33.44%.

Analysts Set New Price Targets

RRR has been the subject of several recent analyst reports. Mizuho set a $77.00 price target on Red Rock Resorts in a research note on Wednesday, February 11th. Susquehanna decreased their price target on Red Rock Resorts from $77.00 to $70.00 and set a “positive” rating for the company in a research note on Thursday, April 30th. Morgan Stanley set a $59.00 price objective on Red Rock Resorts in a research report on Wednesday, May 6th. Benchmark dropped their target price on Red Rock Resorts from $67.00 to $63.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Finally, Barclays boosted their price target on Red Rock Resorts from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Twelve research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Red Rock Resorts currently has a consensus rating of “Moderate Buy” and an average target price of $67.67.

About Red Rock Resorts

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.