Sei Investments Co. Raises Stake in Red Rock Resorts, Inc. $RRR

Sei Investments Co. raised its holdings in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 39.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,754 shares of the company’s stock after acquiring an additional 8,928 shares during the quarter. Sei Investments Co.’s holdings in Red Rock Resorts were worth $1,694,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Bamco Inc. NY grew its position in shares of Red Rock Resorts by 2.0% in the 4th quarter. Bamco Inc. NY now owns 12,519,892 shares of the company’s stock valued at $775,607,000 after buying an additional 250,725 shares during the last quarter. State Street Corp boosted its stake in Red Rock Resorts by 62.1% in the fourth quarter. State Street Corp now owns 1,814,812 shares of the company’s stock valued at $112,428,000 after acquiring an additional 695,575 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Red Rock Resorts by 2,248.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,354,644 shares of the company’s stock valued at $82,715,000 after acquiring an additional 1,296,956 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Red Rock Resorts by 7.4% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,207,404 shares of the company’s stock worth $74,799,000 after purchasing an additional 82,849 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Red Rock Resorts by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,188,664 shares of the company’s stock worth $73,648,000 after purchasing an additional 4,759 shares during the last quarter. 47.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Citizens Jmp lifted their target price on shares of Red Rock Resorts from $69.00 to $71.00 and gave the company a “market outperform” rating in a report on Wednesday, August 5th. Benchmark increased their price target on shares of Red Rock Resorts from $63.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Bank of America raised their price objective on shares of Red Rock Resorts from $60.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Wall Street Zen raised shares of Red Rock Resorts from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Finally, UBS Group set a $75.00 target price on shares of Red Rock Resorts in a report on Thursday, July 2nd. Fourteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Red Rock Resorts presently has an average rating of “Moderate Buy” and an average target price of $71.88.

Insiders Place Their Bets

In related news, President Scott Kreeger sold 31,159 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $61.78, for a total value of $1,925,003.02. Following the sale, the president directly owned 203,881 shares of the company’s stock, valued at $12,595,768.18. This represents a 13.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 54.34% of the stock is currently owned by insiders.

Red Rock Resorts Price Performance

Red Rock Resorts stock opened at $61.29 on Tuesday. The firm has a market capitalization of $6.44 billion, a PE ratio of 21.66, a P/E/G ratio of 4.58 and a beta of 1.36. Red Rock Resorts, Inc. has a 52 week low of $50.52 and a 52 week high of $68.99. The firm’s 50-day simple moving average is $62.98 and its 200 day simple moving average is $59.82. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 14.42.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.16. The business had revenue of $510.26 million for the quarter, compared to the consensus estimate of $500.08 million. Red Rock Resorts had a return on equity of 55.65% and a net margin of 8.43%.The business’s revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.95 earnings per share. On average, equities research analysts predict that Red Rock Resorts, Inc. will post 1.5 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 36.75%.

Red Rock Resorts 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.