Lorenzo J. Fertitta Purchases 75,000 Shares of Red Rock Resorts Inc (NASDAQ:RRR) Stock

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Red Rock Resorts Inc (NASDAQ:RRR) CEO Lorenzo J. Fertitta purchased 75,000 shares of the stock in a transaction on Thursday, August 15th. The stock was acquired at an average cost of $14.17 per share, with a total value of $1,062,750.00.

Shares of Red Rock Resorts stock opened at $22.23 on Thursday. The firm has a market cap of $2.59 billion, a PE ratio of 16.97 and a beta of 2.08. Red Rock Resorts Inc has a 12-month low of $16.76 and a 12-month high of $30.62. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 3.62. The company’s fifty day simple moving average is $20.15 and its two-hundred day simple moving average is $23.47.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.04). The firm had revenue of $482.90 million for the quarter, compared to the consensus estimate of $441.48 million. Red Rock Resorts had a net margin of 1.75% and a return on equity of 8.09%. The business’s revenue was up 16.0% on a year-over-year basis. During the same period last year, the company posted $0.82 earnings per share. As a group, sell-side analysts expect that Red Rock Resorts Inc will post 0.46 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.10 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.80%. Red Rock Resorts’s payout ratio is presently 30.53%.

A number of research analysts have recently issued reports on RRR shares. Stifel Nicolaus set a $22.00 price objective on Red Rock Resorts and gave the company a “hold” rating in a research note on Wednesday, August 7th. ValuEngine raised Red Rock Resorts from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. Wolfe Research started coverage on Red Rock Resorts in a research note on Friday, June 14th. They issued a “peer perform” rating for the company. Goldman Sachs Group upgraded Red Rock Resorts from a “neutral” rating to a “buy” rating and dropped their target price for the company from $31.00 to $29.00 in a report on Tuesday, June 11th. Finally, Deutsche Bank set a $24.00 price target on Red Rock Resorts and gave the stock a “buy” rating in a research report on Monday, August 12th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $25.86.

Large investors have recently made changes to their positions in the stock. Nuveen Asset Management LLC bought a new position in Red Rock Resorts during the 2nd quarter valued at approximately $25,778,000. Cohen & Steers Inc. grew its position in shares of Red Rock Resorts by 16.6% in the 2nd quarter. Cohen & Steers Inc. now owns 4,267,738 shares of the company’s stock worth $91,671,000 after buying an additional 607,780 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of Red Rock Resorts by 9.4% during the second quarter. Diamond Hill Capital Management Inc. now owns 6,883,701 shares of the company’s stock valued at $147,862,000 after buying an additional 593,837 shares during the period. Marshall Wace LLP increased its stake in shares of Red Rock Resorts by 124.1% during the first quarter. Marshall Wace LLP now owns 875,518 shares of the company’s stock valued at $22,632,000 after buying an additional 484,847 shares during the period. Finally, Marshall Wace North America L.P. raised its holdings in shares of Red Rock Resorts by 287.3% during the second quarter. Marshall Wace North America L.P. now owns 550,438 shares of the company’s stock valued at $11,824,000 after acquiring an additional 408,329 shares in the last quarter. Institutional investors own 63.33% of the company’s stock.

About Red Rock Resorts

Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.

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