Quantinno Capital Management LP Has $1.88 Million Stock Holdings in Red Rock Resorts, Inc. $RRR

Quantinno Capital Management LP lifted its holdings in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 167.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 35,223 shares of the company’s stock after acquiring an additional 22,065 shares during the period. Quantinno Capital Management LP’s holdings in Red Rock Resorts were worth $1,880,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership increased its stake in Red Rock Resorts by 2,248.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,354,644 shares of the company’s stock valued at $82,715,000 after acquiring an additional 1,296,956 shares during the period. Invesco Ltd. lifted its stake in Red Rock Resorts by 345.6% during the fourth quarter. Invesco Ltd. now owns 1,054,086 shares of the company’s stock worth $65,301,000 after purchasing an additional 817,524 shares during the period. Wellington Management Group LLP acquired a new stake in Red Rock Resorts during the fourth quarter valued at approximately $45,724,000. State Street Corp boosted its holdings in Red Rock Resorts by 62.1% during the fourth quarter. State Street Corp now owns 1,814,812 shares of the company’s stock valued at $112,428,000 after purchasing an additional 695,575 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Red Rock Resorts by 656.8% in the 4th quarter. Millennium Management LLC now owns 373,038 shares of the company’s stock valued at $23,110,000 after purchasing an additional 323,749 shares during the period. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Red Rock Resorts Stock Performance

NASDAQ:RRR opened at $63.04 on Wednesday. The stock has a market capitalization of $6.62 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 4.56 and a beta of 1.36. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 14.42. Red Rock Resorts, Inc. has a 1 year low of $50.52 and a 1 year high of $68.99. The firm has a 50 day moving average of $63.10 and a 200-day moving average of $59.82.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.16. Red Rock Resorts had a return on equity of 55.65% and a net margin of 8.43%.The business had revenue of $510.26 million for the quarter, compared to analyst estimates of $500.08 million. During the same period in the prior year, the company earned $0.95 EPS. Red Rock Resorts’s revenue for the quarter was down 3.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Red Rock Resorts, Inc. will post 1.5 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 15th. Red Rock Resorts’s dividend payout ratio is presently 36.75%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RRR. Citizens Jmp increased their target price on Red Rock Resorts from $69.00 to $71.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 5th. Zacks Research raised Red Rock Resorts from a “strong sell” rating to a “hold” rating in a research note on Friday, August 7th. Benchmark upped their price target on Red Rock Resorts from $63.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Jefferies Financial Group reiterated a “buy” rating on shares of Red Rock Resorts in a research note on Thursday, July 2nd. Finally, Wall Street Zen raised Red Rock Resorts from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $71.88.

Insider Buying and Selling at Red Rock Resorts

In other news, President Scott Kreeger sold 31,159 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $61.78, for a total value of $1,925,003.02. Following the completion of the sale, the president directly owned 203,881 shares in the company, valued at approximately $12,595,768.18. This trade represents a 13.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 54.34% of the company’s stock.

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.