D. E. Shaw & Co. Inc. Raises Stake in Red Rock Resorts, Inc. (NASDAQ:RRR)

D. E. Shaw & Co. Inc. boosted its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 537.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 215,397 shares of the company’s stock after acquiring an additional 181,619 shares during the period. D. E. Shaw & Co. Inc. owned about 0.20% of Red Rock Resorts worth $9,960,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Eminence Capital LP increased its holdings in shares of Red Rock Resorts by 36.1% in the 4th quarter. Eminence Capital LP now owns 2,056,588 shares of the company’s stock valued at $95,097,000 after acquiring an additional 546,047 shares during the last quarter. Brevan Howard Capital Management LP increased its stake in Red Rock Resorts by 349.6% in the fourth quarter. Brevan Howard Capital Management LP now owns 25,267 shares of the company’s stock valued at $1,168,000 after purchasing an additional 19,647 shares during the last quarter. Bamco Inc. NY increased its stake in Red Rock Resorts by 6.9% in the fourth quarter. Bamco Inc. NY now owns 11,356,201 shares of the company’s stock valued at $525,111,000 after purchasing an additional 732,917 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Red Rock Resorts by 121.4% during the fourth quarter. BNP Paribas Financial Markets now owns 34,039 shares of the company’s stock worth $1,574,000 after purchasing an additional 18,665 shares in the last quarter. Finally, Comerica Bank lifted its position in shares of Red Rock Resorts by 19.6% during the 4th quarter. Comerica Bank now owns 361,480 shares of the company’s stock worth $16,715,000 after buying an additional 59,303 shares during the last quarter. 47.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on RRR. Stifel Nicolaus dropped their target price on shares of Red Rock Resorts from $54.00 to $44.00 and set a “hold” rating on the stock in a research report on Friday, May 2nd. Macquarie restated an “outperform” rating and issued a $58.00 price objective on shares of Red Rock Resorts in a research note on Friday, May 2nd. Barclays cut their target price on Red Rock Resorts from $58.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Susquehanna reduced their target price on Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating for the company in a report on Wednesday, April 16th. Finally, Mizuho dropped their price target on Red Rock Resorts from $52.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $52.64.

Red Rock Resorts Stock Performance

Shares of RRR stock opened at $47.20 on Thursday. The stock’s 50-day moving average price is $42.79 and its 200 day moving average price is $46.95. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The stock has a market capitalization of $5.01 billion, a PE ratio of 18.80, a price-to-earnings-growth ratio of 4.32 and a beta of 1.64. Red Rock Resorts, Inc. has a 52-week low of $35.09 and a 52-week high of $61.73.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Thursday, May 1st. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.33. The company had revenue of $497.86 million for the quarter, compared to the consensus estimate of $499.12 million. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. The company’s revenue was up 1.8% on a year-over-year basis. During the same period last year, the business posted $0.68 EPS. As a group, equities research analysts forecast that Red Rock Resorts, Inc. will post 1.76 EPS for the current year.

Red Rock Resorts Announces Dividend

The company also recently disclosed an annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Wednesday, May 14th will be given a $1.00 dividend. The ex-dividend date is Wednesday, May 14th. This represents a yield of 2.29%. Red Rock Resorts’s dividend payout ratio (DPR) is 38.76%.

Red Rock Resorts 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.