Auxano Advisors LLC Purchases Shares of 25,143 Red Rock Resorts, Inc. (NASDAQ:RRR)

Auxano Advisors LLC purchased a new stake in Red Rock Resorts, Inc. (NASDAQ:RRR) during the fourth quarter, Holdings Channel reports. The firm purchased 25,143 shares of the company’s stock, valued at approximately $1,341,000.

A number of other large investors have also recently bought and sold shares of the stock. Bamco Inc. NY grew its holdings in shares of Red Rock Resorts by 10.8% during the third quarter. Bamco Inc. NY now owns 9,856,963 shares of the company’s stock worth $404,135,000 after buying an additional 962,841 shares in the last quarter. FMR LLC grew its stake in Red Rock Resorts by 46.4% in the third quarter. FMR LLC now owns 5,249,335 shares of the company’s stock valued at $215,223,000 after purchasing an additional 1,663,839 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in Red Rock Resorts by 1.9% in the third quarter. Diamond Hill Capital Management Inc. now owns 4,827,336 shares of the company’s stock valued at $197,921,000 after purchasing an additional 91,798 shares in the last quarter. Eminence Capital LP grew its stake in Red Rock Resorts by 6.0% in the third quarter. Eminence Capital LP now owns 1,959,685 shares of the company’s stock valued at $80,347,000 after purchasing an additional 111,651 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new position in Red Rock Resorts in the fourth quarter valued at approximately $40,331,000. 47.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RRR. Bank of America lifted their target price on Red Rock Resorts from $52.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. JMP Securities lifted their target price on Red Rock Resorts from $61.00 to $66.00 and gave the stock a “market outperform” rating in a research note on Friday, April 19th. Macquarie upgraded Red Rock Resorts from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $51.00 to $58.00 in a research note on Wednesday, January 17th. Mizuho began coverage on Red Rock Resorts in a research note on Tuesday, March 26th. They set a “buy” rating and a $69.00 target price for the company. Finally, Truist Financial lifted their target price on Red Rock Resorts from $58.00 to $60.00 and gave the stock a “hold” rating in a research note on Tuesday, April 23rd. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.67.

Red Rock Resorts Price Performance

RRR stock traded down $1.90 during midday trading on Tuesday, reaching $53.12. 444,058 shares of the stock were exchanged, compared to its average volume of 413,966. The stock has a market capitalization of $5.59 billion, a PE ratio of 18.65, a P/E/G ratio of 2.78 and a beta of 2.06. Red Rock Resorts, Inc. has a 52 week low of $37.82 and a 52 week high of $63.28. The company has a debt-to-equity ratio of 13.54, a current ratio of 0.81 and a quick ratio of 0.76. The company has a fifty day moving average price of $58.20 and a 200 day moving average price of $51.99.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.55. The business had revenue of $462.71 million for the quarter, compared to analyst estimates of $440.75 million. Red Rock Resorts had a return on equity of 114.32% and a net margin of 10.21%. Red Rock Resorts’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 EPS. As a group, analysts expect that Red Rock Resorts, Inc. will post 1.94 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Thursday, March 14th. Red Rock Resorts’s dividend payout ratio is 33.90%.

Insider Activity

In related news, CFO Stephen Lawrence Cootey sold 7,520 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $57.74, for a total transaction of $434,204.80. Following the transaction, the chief financial officer now directly owns 243,808 shares of the company’s stock, valued at approximately $14,077,473.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 53.28% of the stock is owned by company insiders.

About Red Rock Resorts

Red Rock Resorts, Inc, through its interest in Station Casinos LLC, develops and operates casino and entertainment properties in the United States. The company owns and operates gaming and entertainment facilities, including Durango Casino & Resort and smaller casinos in the Las Vegas regional market.