UBS Group AG Has $29.51 Million Position in Red Rock Resorts, Inc. $RRR

UBS Group AG boosted its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR) by 205.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 476,311 shares of the company’s stock after buying an additional 320,175 shares during the period. UBS Group AG’s holdings in Red Rock Resorts were worth $29,507,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of RRR. Vanguard Group Inc. raised its holdings in Red Rock Resorts by 6.7% in the third quarter. Vanguard Group Inc. now owns 5,564,421 shares of the company’s stock worth $339,764,000 after purchasing an additional 349,822 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings 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 worth $82,715,000 after purchasing an additional 1,296,956 shares during the period. Balyasny Asset Management L.P. raised its holdings in Red Rock Resorts by 53.8% in the second quarter. Balyasny Asset Management L.P. now owns 793,371 shares of the company’s stock worth $41,279,000 after purchasing an additional 277,426 shares during the period. Dimensional Fund Advisors LP raised its holdings in Red Rock Resorts by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 493,420 shares of the company’s stock worth $30,133,000 after purchasing an additional 1,589 shares during the period. Finally, Millennium Management LLC raised its holdings in Red Rock Resorts by 56.2% in the first quarter. Millennium Management LLC now owns 430,150 shares of the company’s stock worth $18,656,000 after purchasing an additional 154,839 shares during the period. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on RRR shares. Citigroup cut their target price on shares of Red Rock Resorts from $76.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Susquehanna dropped their price objective on shares of Red Rock Resorts from $77.00 to $70.00 and set a “positive” rating on the stock in a report on Thursday, April 30th. Barclays raised their price objective on shares of Red Rock Resorts from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Benchmark dropped their price objective on shares of Red Rock Resorts from $67.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Finally, Jefferies Financial Group dropped their price objective on shares of Red Rock Resorts from $79.00 to $74.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Twelve analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $67.67.

Red Rock Resorts Stock Up 1.4%

Red Rock Resorts stock opened at $54.48 on Friday. The company has a market cap of $5.72 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 3.66 and a beta of 1.35. Red Rock Resorts, Inc. has a 1-year low of $44.03 and a 1-year high of $68.99. The company has a fifty day simple moving average of $56.89 and a 200 day simple moving average of $59.15. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 10.26.

Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Wednesday, April 29th. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.17). The business had revenue of $507.32 million during the quarter, compared to the consensus estimate of $505.63 million. Red Rock Resorts had a net margin of 9.21% and a return on equity of 58.18%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the business posted $0.75 EPS. Research 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. Stockholders of record on Monday, June 15th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, June 15th. Red Rock Resorts’s dividend payout ratio (DPR) is 33.44%.

About Red Rock Resorts

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.