Diamond Hill Capital Management Inc. Sells 445,515 Shares of Red Rock Resorts, Inc. $RRR

Diamond Hill Capital Management Inc. reduced its stake in Red Rock Resorts, Inc. (NASDAQ:RRR) by 18.2% during the 4th quarter, HoldingsChannel reports. The firm owned 2,003,236 shares of the company’s stock after selling 445,515 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in Red Rock Resorts were worth $124,100,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of RRR. Arrowstreet Capital Limited Partnership grew its stake in shares of Red Rock Resorts by 2,248.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,354,644 shares of the company’s stock valued at $82,715,000 after purchasing an additional 1,296,956 shares during the period. Vanguard Group Inc. grew its stake in shares of Red Rock Resorts by 6.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,564,421 shares of the company’s stock valued at $339,764,000 after purchasing an additional 349,822 shares during the period. UBS Group AG grew its stake in shares of Red Rock Resorts by 205.1% in the 4th quarter. UBS Group AG now owns 476,311 shares of the company’s stock valued at $29,507,000 after purchasing an additional 320,175 shares during the period. Voloridge Investment Management LLC grew its stake in shares of Red Rock Resorts by 556.5% in the 3rd quarter. Voloridge Investment Management LLC now owns 334,610 shares of the company’s stock valued at $20,431,000 after purchasing an additional 283,642 shares during the period. Finally, Balyasny Asset Management L.P. grew its stake in shares of Red Rock Resorts by 53.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 793,371 shares of the company’s stock valued at $41,279,000 after purchasing an additional 277,426 shares during the period. 47.84% of the stock is currently owned by institutional investors.

Red Rock Resorts Price Performance

RRR opened at $53.37 on Friday. Red Rock Resorts, Inc. has a one year low of $44.28 and a one year high of $68.99. The company has a debt-to-equity ratio of 14.42, a current ratio of 0.81 and a quick ratio of 0.76. The company’s 50 day simple moving average is $55.37 and its 200-day simple moving average is $58.77. The stock has a market capitalization of $5.61 billion, a P/E ratio of 17.16, a price-to-earnings-growth ratio of 3.52 and a beta of 1.35.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.17). Red Rock Resorts had a net margin of 9.21% and a return on equity of 61.67%. The company had revenue of $507.32 million for the quarter, compared to the consensus estimate of $505.63 million. During the same period last year, the company earned $0.75 earnings per share. Red Rock Resorts’s revenue for the quarter was up 1.9% compared to the same quarter last year. Sell-side analysts anticipate that Red Rock Resorts, Inc. will post 1.73 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.04 annualized dividend and a yield of 1.9%. Red Rock Resorts’s dividend payout ratio is currently 33.44%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $72.00 price objective on shares of Red Rock Resorts in a research note on Thursday, April 30th. Weiss Ratings lowered Red Rock Resorts from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, April 17th. Susquehanna reduced their target price on Red Rock Resorts from $77.00 to $70.00 and set a “positive” rating on the stock in a report on Thursday, April 30th. Wells Fargo & Company reduced their target price on Red Rock Resorts from $59.00 to $55.00 and set an “equal weight” rating on the stock in a report on Thursday, April 30th. Finally, Mizuho set a $77.00 target price on Red Rock Resorts in a report on Wednesday, February 11th. Twelve equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $67.67.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.