Creative Planning Takes $215,000 Position in Red Rock Resorts Inc (NASDAQ:RRR)

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Creative Planning bought a new position in Red Rock Resorts Inc (NASDAQ:RRR) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 8,974 shares of the company’s stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in RRR. Neo Ivy Capital Management bought a new position in shares of Red Rock Resorts during the 3rd quarter worth about $33,000. Tower Research Capital LLC TRC increased its holdings in shares of Red Rock Resorts by 1,848.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,812 shares of the company’s stock worth $37,000 after purchasing an additional 1,719 shares during the period. Sciencast Management LP bought a new position in shares of Red Rock Resorts during the 4th quarter worth about $307,000. SG Americas Securities LLC bought a new position in shares of Red Rock Resorts during the 3rd quarter worth about $286,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Red Rock Resorts by 12.1% during the 4th quarter. Russell Investments Group Ltd. now owns 18,365 shares of the company’s stock worth $439,000 after purchasing an additional 1,977 shares during the period. Hedge funds and other institutional investors own 61.65% of the company’s stock.

RRR has been the topic of several research reports. Deutsche Bank restated a “buy” rating and set a $31.00 price objective (up previously from $25.00) on shares of Red Rock Resorts in a report on Wednesday, February 5th. Bank of America lowered shares of Red Rock Resorts from a “buy” rating to a “neutral” rating in a research report on Monday, January 6th. SunTrust Banks upgraded shares of Red Rock Resorts from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Tuesday, February 4th. ValuEngine upgraded shares of Red Rock Resorts from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th. Finally, Union Gaming Research lowered shares of Red Rock Resorts from a “buy” rating to a “hold” rating and decreased their target price for the company from $25.00 to $22.00 in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $27.11.

Shares of Red Rock Resorts stock opened at $26.35 on Friday. The company has a debt-to-equity ratio of 3.85, a quick ratio of 0.90 and a current ratio of 0.96. The firm’s 50-day simple moving average is $24.64 and its 200-day simple moving average is $22.22. Red Rock Resorts Inc has a twelve month low of $16.76 and a twelve month high of $29.80. The firm has a market cap of $3.15 billion, a P/E ratio of -376.37 and a beta of 2.07.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.06). The firm had revenue of $460.80 million during the quarter, compared to analyst estimates of $464.30 million. Red Rock Resorts had a negative net margin of 0.18% and a positive return on equity of 6.25%. Red Rock Resorts’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 earnings per share. On average, equities analysts forecast that Red Rock Resorts Inc will post 0.97 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a $0.10 dividend. The ex-dividend date is Thursday, March 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.52%.

Red Rock Resorts Company Profile

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.

See Also: Golden Cross

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

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