UBS Asset Management Americas Inc. Raises Holdings in Red Rock Resorts Inc (NASDAQ:RRR)

UBS Asset Management Americas Inc. increased its holdings in Red Rock Resorts Inc (NASDAQ:RRR) by 9.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 56,962 shares of the company’s stock after acquiring an additional 4,999 shares during the period. UBS Asset Management Americas Inc.’s holdings in Red Rock Resorts were worth $1,224,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of RRR. LPL Financial LLC increased its position in shares of Red Rock Resorts by 8.6% during the second quarter. LPL Financial LLC now owns 10,099 shares of the company’s stock worth $217,000 after purchasing an additional 797 shares in the last quarter. Swiss National Bank increased its position in shares of Red Rock Resorts by 2.1% during the second quarter. Swiss National Bank now owns 129,700 shares of the company’s stock worth $2,786,000 after purchasing an additional 2,700 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Red Rock Resorts by 1,067.9% during the second quarter. Bank of Montreal Can now owns 6,412 shares of the company’s stock worth $138,000 after buying an additional 5,863 shares during the last quarter. Zebra Capital Management LLC purchased a new position in shares of Red Rock Resorts during the second quarter worth about $215,000. Finally, Quantitative Systematic Strategies LLC purchased a new position in shares of Red Rock Resorts during the second quarter worth about $242,000. Institutional investors own 63.33% of the company’s stock.

RRR has been the topic of a number of research reports. BidaskClub lowered Red Rock Resorts from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Nomura decreased their price objective on shares of Red Rock Resorts from $36.00 to $26.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. TheStreet cut shares of Red Rock Resorts from a “b-” rating to a “c+” rating in a research report on Thursday, July 11th. ValuEngine raised shares of Red Rock Resorts from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. Finally, Stifel Nicolaus set a $22.00 price objective on shares of Red Rock Resorts and gave the company a “hold” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $25.86.

In other Red Rock Resorts news, Director Lorenzo J. Fertitta acquired 350,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were purchased at an average price of $18.41 per share, for a total transaction of $6,443,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lorenzo J. Fertitta acquired 131,650 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were acquired at an average price of $18.51 per share, for a total transaction of $2,436,841.50. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 1,377,509 shares of company stock worth $25,641,396. Company insiders own 40.19% of the company’s stock.

Shares of Red Rock Resorts stock traded down $0.07 during trading on Monday, reaching $20.75. The company had a trading volume of 67,456 shares, compared to its average volume of 609,222. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 15.84 and a beta of 2.07. The firm’s fifty day moving average is $20.77 and its 200-day moving average is $22.56. The company has a debt-to-equity ratio of 3.62, a quick ratio of 0.83 and a current ratio of 0.89. Red Rock Resorts Inc has a fifty-two week low of $16.76 and a fifty-two week high of $29.80.

Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The company 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%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.82 EPS. On average, research analysts anticipate that Red Rock Resorts Inc will post 0.44 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.93%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 30.53%.

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

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