TD Asset Management Inc Sells 22,996 Shares of Red Rock Resorts, Inc. $RRR

TD Asset Management Inc cut its holdings in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 62.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,868 shares of the company’s stock after selling 22,996 shares during the period. TD Asset Management Inc’s holdings in Red Rock Resorts were worth $847,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. CWM LLC grew its position in shares of Red Rock Resorts by 4.6% during the 3rd quarter. CWM LLC now owns 4,663 shares of the company’s stock worth $285,000 after buying an additional 205 shares during the period. Baron Wealth Management LLC lifted its holdings in Red Rock Resorts by 1.5% in the third quarter. Baron Wealth Management LLC now owns 15,112 shares of the company’s stock valued at $923,000 after buying an additional 218 shares during the period. Arizona State Retirement System boosted its stake in Red Rock Resorts by 1.5% in the third quarter. Arizona State Retirement System now owns 15,103 shares of the company’s stock valued at $922,000 after acquiring an additional 219 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in Red Rock Resorts by 4.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 7,751 shares of the company’s stock worth $403,000 after acquiring an additional 340 shares during the period. Finally, California State Teachers Retirement System grew its holdings in Red Rock Resorts by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 46,720 shares of the company’s stock worth $2,431,000 after acquiring an additional 343 shares during the period. Institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Stock Performance

Shares of RRR opened at $57.70 on Friday. The firm has a market cap of $6.06 billion, a P/E ratio of 18.43, a PEG ratio of 2.48 and a beta of 1.46. Red Rock Resorts, Inc. has a twelve month low of $35.09 and a twelve month high of $68.99. The company has a debt-to-equity ratio of 10.26, a quick ratio of 0.74 and a current ratio of 0.79. The firm’s 50 day moving average price is $62.42 and its two-hundred day moving average price is $60.41.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.34. The business had revenue of $511.78 million for the quarter, compared to analyst estimates of $500.90 million. Red Rock Resorts had a net margin of 9.35% and a return on equity of 58.13%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the business posted $0.76 earnings per share. On average, analysts forecast that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a $0.26 dividend. The ex-dividend date is Monday, March 16th. This represents a $1.04 annualized dividend and a yield of 1.8%. Red Rock Resorts’s payout ratio is presently 33.23%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RRR. Wells Fargo & Company boosted their target price on Red Rock Resorts from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 11th. Mizuho set a $77.00 price target on shares of Red Rock Resorts in a research report on Wednesday, February 11th. Stifel Nicolaus boosted their price objective on shares of Red Rock Resorts from $71.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. UBS Group set a $73.00 target price on shares of Red Rock Resorts in a research note on Wednesday, December 24th. Finally, Citigroup increased their target price on shares of Red Rock Resorts from $63.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.15.

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.