Frank J. Fertitta III Acquires 67,000 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) Stock

Red Rock Resorts, Inc. (NASDAQ:RRR) CEO Frank J. Fertitta III purchased 67,000 shares of Red Rock Resorts stock in a transaction dated Thursday, August 1st. The shares were purchased at an average price of $54.49 per share, with a total value of $3,650,830.00. Following the completion of the transaction, the chief executive officer now directly owns 45,914,301 shares in the company, valued at $2,501,870,261.49. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Red Rock Resorts Trading Down 3.7 %

Red Rock Resorts stock traded down $1.92 during mid-day trading on Monday, hitting $49.66. The company’s stock had a trading volume of 1,067,987 shares, compared to its average volume of 465,831. The company has a debt-to-equity ratio of 18.49, a current ratio of 0.90 and a quick ratio of 0.85. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 5.44 and a beta of 2.04. The business has a 50 day moving average price of $54.30 and a 200-day moving average price of $55.53. Red Rock Resorts, Inc. has a 12 month low of $37.82 and a 12 month high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.43 by $0.16. The firm had revenue of $486.40 million during the quarter, compared to the consensus estimate of $475.80 million. Red Rock Resorts had a net margin of 9.21% and a return on equity of 87.05%. The company’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 earnings per share. As a group, analysts forecast that Red Rock Resorts, Inc. will post 1.66 EPS for the current year.

Red Rock Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Monday, September 16th. Red Rock Resorts’s dividend payout ratio (DPR) is 34.72%.

Analyst Ratings Changes

RRR has been the subject of a number of recent analyst reports. Stifel Nicolaus boosted their price target on shares of Red Rock Resorts from $59.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Barclays upped their target price on shares of Red Rock Resorts from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. upped their target price on shares of Red Rock Resorts from $62.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Wells Fargo & Company lowered shares of Red Rock Resorts from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $63.00 to $64.00 in a research report on Wednesday, July 24th. Finally, Macquarie upped their target price on shares of Red Rock Resorts from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.33.

Hedge Funds Weigh In On Red Rock Resorts

Hedge funds and other institutional investors have recently modified their holdings of the company. Vaughan Nelson Investment Management L.P. bought a new position in Red Rock Resorts in the fourth quarter worth about $40,331,000. Valeo Financial Advisors LLC purchased a new stake in Red Rock Resorts in the fourth quarter worth about $255,000. VELA Investment Management LLC purchased a new stake in Red Rock Resorts in the fourth quarter worth about $256,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Red Rock Resorts by 7.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,071 shares of the company’s stock worth $644,000 after purchasing an additional 870 shares during the period. Finally, Avior Wealth Management LLC grew its holdings in Red Rock Resorts by 4.3% in the fourth quarter. Avior Wealth Management LLC now owns 9,941 shares of the company’s stock worth $530,000 after purchasing an additional 408 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.