Red Rock Resorts, Inc. (NASDAQ:RRR) Shares Acquired by Mayfair Advisory Group LLC

Mayfair Advisory Group LLC grew its stake in Red Rock Resorts, Inc. (NASDAQ:RRR) by 8.1% during the first quarter, HoldingsChannel.com reports. The firm owned 4,861 shares of the company’s stock after purchasing an additional 364 shares during the period. Mayfair Advisory Group LLC’s holdings in Red Rock Resorts were worth $211,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Bamco Inc. NY raised its stake in shares of Red Rock Resorts by 6.9% in the 4th 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 in the last quarter. Vanguard Group Inc. raised its stake in shares of Red Rock Resorts by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 5,181,146 shares of the company’s stock valued at $239,576,000 after purchasing an additional 50,193 shares in the last quarter. Eminence Capital LP raised its stake 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 purchasing an additional 546,047 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Red Rock Resorts by 19.2% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,602,368 shares of the company’s stock valued at $69,494,000 after purchasing an additional 258,310 shares in the last quarter. Finally, Long Pond Capital LP raised its stake in shares of Red Rock Resorts by 142.5% in the 4th quarter. Long Pond Capital LP now owns 1,474,153 shares of the company’s stock valued at $68,165,000 after purchasing an additional 866,320 shares in the last quarter. Institutional investors and hedge funds own 47.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus cut 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 note on Friday, May 2nd. Barclays cut their target price on shares of Red Rock Resorts from $58.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. JMP Securities cut their target price on shares of Red Rock Resorts from $59.00 to $55.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 17th. Mizuho upgraded shares of Red Rock Resorts from a “neutral” rating to an “outperform” rating and set a $50.00 target price on the stock in a research note on Monday, June 2nd. Finally, Susquehanna dropped their price objective on shares of Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating on the stock in a research note on Wednesday, April 16th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $52.64.

Red Rock Resorts Price Performance

RRR opened at $50.51 on Wednesday. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of 19.58, a price-to-earnings-growth ratio of 5.24 and a beta of 1.61. Red Rock Resorts, Inc. has a fifty-two week low of $35.09 and a fifty-two week high of $61.73. The company’s 50-day moving average price is $45.44 and its 200 day moving average price is $46.36. The company has a quick ratio of 0.87, a current ratio of 0.92 and a debt-to-equity ratio of 9.04.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.33. The firm had revenue of $497.86 million for the quarter, compared to analyst estimates of $499.12 million. Red Rock Resorts had a net margin of 8.01% and a return on equity of 56.45%. Red Rock Resorts’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 earnings per share. As a group, sell-side analysts expect that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The company also recently declared an annual dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a dividend yield of 2.29%. Red Rock Resorts’s payout ratio is currently 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.