Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 54.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 355,239 shares of the company’s stock after acquiring an additional 124,639 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Red Rock Resorts were worth $8,895,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RRR. Dimensional Fund Advisors LP boosted its holdings in Red Rock Resorts by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 643,904 shares of the company’s stock worth $16,123,000 after acquiring an additional 32,279 shares during the last quarter. Hsbc Holdings PLC purchased a new position in Red Rock Resorts during the fourth quarter worth about $207,000. Interval Partners LP bought a new stake in Red Rock Resorts in the 4th quarter worth about $5,008,000. Principal Financial Group Inc. purchased a new stake in Red Rock Resorts in the 4th quarter valued at about $345,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Red Rock Resorts by 20.9% in the 4th quarter. JPMorgan Chase & Co. now owns 53,149 shares of the company’s stock worth $1,330,000 after buying an additional 9,172 shares during the last quarter. 52.40% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently commented on RRR shares. Zacks Investment Research lowered Red Rock Resorts from a “hold” rating to a “sell” rating and set a $31.00 price target on the stock. in a report on Wednesday, February 17th. The Goldman Sachs Group boosted their price target on shares of Red Rock Resorts from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, January 26th. JPMorgan Chase & Co. raised their price objective on shares of Red Rock Resorts from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, February 10th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Red Rock Resorts from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, December 9th. They noted that the move was a valuation call. Finally, Macquarie raised their price target on shares of Red Rock Resorts from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. Red Rock Resorts currently has an average rating of “Buy” and a consensus target price of $24.15.
Shares of RRR opened at $34.52 on Thursday. The firm has a 50 day moving average price of $32.32 and a 200-day moving average price of $24.87. Red Rock Resorts, Inc. has a fifty-two week low of $7.51 and a fifty-two week high of $35.94. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of -13.38 and a beta of 2.55. The company has a debt-to-equity ratio of 5.40, a quick ratio of 1.08 and a current ratio of 1.14.
Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Monday, February 8th. The company reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.15. Red Rock Resorts had a negative net margin of 13.48% and a negative return on equity of 2.52%. The business had revenue of $343.41 million during the quarter, compared to analysts’ expectations of $342.17 million. During the same quarter in the prior year, the company posted $0.05 EPS. The firm’s revenue for the quarter was down 25.5% compared to the same quarter last year. As a group, equities research analysts predict that Red Rock Resorts, Inc. will post -0.03 earnings per share for the current year.
Red Rock Resorts 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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