Frank J. Fertitta III Sells 800,000 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) Stock

Red Rock Resorts, Inc. (NASDAQ:RRR) CEO Frank J. Fertitta III sold 800,000 shares of Red Rock Resorts stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $50.39, for a total value of $40,312,000.00. Following the sale, the chief executive officer now directly owns 45,847,301 shares in the company, valued at $2,310,245,497.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Red Rock Resorts Stock Down 4.4 %

NASDAQ:RRR opened at $48.91 on Thursday. The firm has a market capitalization of $5.14 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 2.44 and a beta of 2.08. The stock has a 50 day moving average of $56.38 and a 200-day moving average of $53.24. Red Rock Resorts, Inc. has a 52 week low of $37.82 and a 52 week high of $63.28. The company has a current ratio of 0.90, a quick ratio of 0.85 and a debt-to-equity ratio of 18.49.

Red Rock Resorts (NASDAQ:RRR) last posted its earnings results on Tuesday, May 7th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.50 by $0.18. The company had revenue of $488.90 million during the quarter, compared to analyst estimates of $490.49 million. Red Rock Resorts had a return on equity of 98.44% and a net margin of 9.79%. The business’s revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 earnings per share. Analysts predict that Red Rock Resorts, Inc. will post 1.83 EPS for the current year.

Red Rock Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, June 14th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 34.72%.

Wall Street Analysts Forecast Growth

RRR has been the topic of a number of analyst reports. Barclays dropped their target price on Red Rock Resorts from $64.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. JMP Securities lowered their price objective on Red Rock Resorts from $66.00 to $65.00 and set a “market outperform” rating for the company in a report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on Red Rock Resorts from $54.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. JPMorgan Chase & Co. boosted their price objective on Red Rock Resorts from $63.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Finally, Susquehanna boosted their price objective on Red Rock Resorts from $52.00 to $66.00 and gave the company a “positive” rating in a report on Thursday, February 8th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $61.58.

Hedge Funds Weigh In On Red Rock Resorts

Institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its position in shares of Red Rock Resorts by 46.4% during the third quarter. FMR LLC now owns 5,249,335 shares of the company’s stock worth $215,223,000 after buying an additional 1,663,839 shares during the period. Bamco Inc. NY boosted its position 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 during the period. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Red Rock Resorts during the fourth quarter worth approximately $40,331,000. Capital World Investors acquired a new position in shares of Red Rock Resorts during the fourth quarter worth approximately $24,897,000. Finally, Eminence Capital LP boosted its position in shares of Red Rock Resorts by 21.1% during the fourth quarter. Eminence Capital LP now owns 2,373,556 shares of the company’s stock worth $126,582,000 after buying an additional 413,871 shares during the period. 47.84% of the stock is owned by institutional investors.

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.