Alliancebernstein L.P. Boosts Stake in Red Rock Resorts Inc (RRR)

Alliancebernstein L.P. lifted its holdings in Red Rock Resorts Inc (NASDAQ:RRR) by 175.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 272,054 shares of the company’s stock after buying an additional 173,354 shares during the period. Alliancebernstein L.P.’s holdings in Red Rock Resorts were worth $9,179,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the stock. Water Island Capital LLC bought a new position in Red Rock Resorts during the 4th quarter valued at about $844,000. Geode Capital Management LLC grew its holdings in Red Rock Resorts by 41.9% during the 4th quarter. Geode Capital Management LLC now owns 585,227 shares of the company’s stock valued at $19,745,000 after purchasing an additional 172,820 shares during the last quarter. UBS Asset Management Americas Inc. grew its holdings in Red Rock Resorts by 15.2% during the 4th quarter. UBS Asset Management Americas Inc. now owns 41,285 shares of the company’s stock valued at $1,393,000 after purchasing an additional 5,451 shares during the last quarter. BlackRock Inc. grew its holdings in Red Rock Resorts by 2.8% during the 4th quarter. BlackRock Inc. now owns 4,243,952 shares of the company’s stock valued at $143,190,000 after purchasing an additional 117,236 shares during the last quarter. Finally, Verity Asset Management Inc. bought a new position in Red Rock Resorts during the 4th quarter valued at about $211,000. Institutional investors own 63.22% of the company’s stock.

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Red Rock Resorts stock opened at $29.40 on Friday. The company has a debt-to-equity ratio of 4.06, a current ratio of 1.43 and a quick ratio of 1.38. The company has a market cap of $3,509.92, a PE ratio of 70.00 and a beta of 1.15. Red Rock Resorts Inc has a one year low of $21.07 and a one year high of $35.77.

Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Tuesday, February 27th. The company reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.07. The business had revenue of $394.02 million for the quarter, compared to the consensus estimate of $406.75 million. Red Rock Resorts had a net margin of 2.18% and a return on equity of 16.11%. sell-side analysts anticipate that Red Rock Resorts Inc will post 1.19 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Thursday, March 15th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $0.40 dividend on an annualized basis and a yield of 1.36%. Red Rock Resorts’s dividend payout ratio is currently 95.24%.

RRR has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Red Rock Resorts from a “hold” rating to a “sell” rating in a report on Wednesday, January 24th. Deutsche Bank reiterated a “buy” rating and set a $38.00 price target on shares of Red Rock Resorts in a report on Thursday, December 21st. BidaskClub downgraded shares of Red Rock Resorts from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. ValuEngine upgraded shares of Red Rock Resorts from a “hold” rating to a “buy” rating in a research note on Saturday, February 17th. Finally, Stifel Nicolaus downgraded shares of Red Rock Resorts from a “buy” rating to a “hold” rating and upped their target price for the stock from $29.00 to $37.00 in a research note on Friday, February 23rd. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $32.75.

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About Red Rock Resorts

Red Rock Resorts, Inc is a gaming, development and management company. The Company’s segments include Las Vegas operations, Native American management, and Corporate and other. The Las Vegas operations segment includes all of its Las Vegas area casino properties and the Native American management segment includes its Native American management arrangements.

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Institutional Ownership by Quarter for Red Rock Resorts (NASDAQ:RRR)

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