Parametric Portfolio Associates LLC Cuts Position in Red Rock Resorts Inc (NASDAQ:RRR)

Parametric Portfolio Associates LLC trimmed its position in shares of Red Rock Resorts Inc (NASDAQ:RRR) by 25.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 60,478 shares of the company’s stock after selling 20,264 shares during the period. Parametric Portfolio Associates LLC owned about 0.05% of Red Rock Resorts worth $1,299,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its holdings in Red Rock Resorts by 1,067.9% in the second quarter. Bank of Montreal Can now owns 6,412 shares of the company’s stock valued at $138,000 after purchasing an additional 5,863 shares in the last quarter. LPL Financial LLC boosted its holdings in Red Rock Resorts by 8.6% in the second quarter. LPL Financial LLC now owns 10,099 shares of the company’s stock valued at $217,000 after purchasing an additional 797 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new position in Red Rock Resorts in the second quarter valued at approximately $242,000. GSA Capital Partners LLP acquired a new position in Red Rock Resorts in the second quarter valued at approximately $380,000. Finally, First Trust Advisors LP acquired a new position in Red Rock Resorts in the first quarter valued at approximately $486,000. Hedge funds and other institutional investors own 63.33% of the company’s stock.

RRR stock opened at $20.82 on Friday. The company has a market capitalization of $2.31 billion, a P/E ratio of 24.99 and a beta of 2.07. Red Rock Resorts Inc has a twelve month low of $16.76 and a twelve month high of $29.80. The business has a 50 day simple moving average of $20.77 and a 200-day simple moving average of $22.56. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 3.62.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.04). The firm had revenue of $482.90 million during the quarter, compared to analyst estimates of $441.48 million. Red Rock Resorts had a net margin of 1.75% and a return on equity of 8.09%. Red Rock Resorts’s revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 earnings per share. Research analysts predict that Red Rock Resorts Inc will post 0.44 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Thursday, September 12th. Red Rock Resorts’s payout ratio is currently 30.53%.

In related news, Director Frank J. Fertitta III purchased 555,149 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $19.30 per share, with a total value of $10,714,375.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lorenzo J. Fertitta purchased 9,540 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were bought at an average cost of $19.48 per share, with a total value of $185,839.20. The disclosure for this purchase can be found here. Insiders bought 1,377,509 shares of company stock valued at $25,641,396 over the last three months. Corporate insiders own 40.19% of the company’s stock.

A number of equities analysts recently issued reports on the company. Stifel Nicolaus set a $22.00 price target on Red Rock Resorts and gave the company a “hold” rating in a report on Wednesday, August 7th. Deutsche Bank set a $24.00 price target on Red Rock Resorts and gave the company a “buy” rating in a report on Monday, August 12th. BidaskClub downgraded Red Rock Resorts from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Wolfe Research assumed coverage on Red Rock Resorts in a report on Friday, June 14th. They issued a “peer perform” rating for the company. Finally, Nomura lowered their price target on Red Rock Resorts from $36.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $25.86.

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.

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

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