Edgestream Partners L.P. Acquires 41,790 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Edgestream Partners L.P. boosted its holdings in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 188.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,944 shares of the company’s stock after acquiring an additional 41,790 shares during the quarter. Edgestream Partners L.P. owned 0.06% of Red Rock Resorts worth $2,957,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Bamco Inc. NY grew its holdings in Red Rock Resorts by 1.0% during the 3rd quarter. Bamco Inc. NY now owns 10,623,284 shares of the company’s stock worth $578,332,000 after acquiring an additional 106,509 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Red Rock Resorts by 20.6% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,344,058 shares of the company’s stock valued at $62,149,000 after purchasing an additional 229,843 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Red Rock Resorts by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,171,267 shares of the company’s stock valued at $63,776,000 after purchasing an additional 14,029 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Red Rock Resorts by 3.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,134,509 shares of the company’s stock valued at $61,763,000 after purchasing an additional 38,443 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Red Rock Resorts by 7.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 621,151 shares of the company’s stock valued at $28,722,000 after purchasing an additional 44,043 shares during the last quarter. 47.84% of the stock is owned by institutional investors.

Red Rock Resorts Stock Performance

RRR opened at $47.01 on Monday. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. The company’s fifty day moving average price is $48.24 and its two-hundred day moving average price is $50.81. Red Rock Resorts, Inc. has a 1-year low of $42.46 and a 1-year high of $63.28. The company has a market cap of $4.99 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 4.32 and a beta of 2.01.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. On average, analysts expect that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 2.13%. Red Rock Resorts’s payout ratio is 39.84%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RRR. Truist Financial reduced their price objective on shares of Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. Susquehanna upped their price objective on shares of Red Rock Resorts from $60.00 to $61.00 and gave the company a “positive” rating in a research note on Wednesday, February 12th. JMP Securities reduced their price objective on shares of Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 16th. Mizuho upped their price objective on shares of Red Rock Resorts from $44.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Finally, Stifel Nicolaus boosted their target price on shares of Red Rock Resorts from $50.00 to $54.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $57.33.

Red Rock Resorts Company Profile

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.