Legal & General Group Plc Purchases 71,274 Shares of Red Rock Resorts, Inc. $RRR

Legal & General Group Plc boosted its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 147.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 119,453 shares of the company’s stock after buying an additional 71,274 shares during the quarter. Legal & General Group Plc owned approximately 0.11% of Red Rock Resorts worth $7,400,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC bought a new position in Red Rock Resorts in the 1st quarter worth $308,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Red Rock Resorts by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,272 shares of the company’s stock worth $1,270,000 after purchasing an additional 1,282 shares in the last quarter. Millennium Management LLC raised its holdings in Red Rock Resorts by 56.2% in the 1st 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Red Rock Resorts by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 106,275 shares of the company’s stock worth $4,609,000 after purchasing an additional 4,699 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Red Rock Resorts by 9.1% in the 2nd quarter. American Century Companies Inc. now owns 25,884 shares of the company’s stock worth $1,347,000 after purchasing an additional 2,166 shares in the last quarter. 47.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on RRR. Jefferies Financial Group decreased their price objective on shares of Red Rock Resorts from $79.00 to $74.00 and set a “buy” rating for the company in a report on Monday, April 6th. Weiss Ratings lowered shares of Red Rock Resorts from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Citigroup decreased their price objective on shares of Red Rock Resorts from $76.00 to $62.00 and set a “buy” rating for the company in a report on Friday, May 1st. Susquehanna decreased their price objective on shares of Red Rock Resorts from $77.00 to $70.00 and set a “positive” rating for the company in a report on Thursday, April 30th. Finally, Mizuho set a $77.00 price objective on shares of 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $67.53.

Red Rock Resorts Stock Up 1.2%

NASDAQ:RRR opened at $57.39 on Friday. The firm’s 50-day moving average price is $55.10 and its 200-day moving average price is $58.78. The company has a market capitalization of $6.03 billion, a PE ratio of 18.45, a P/E/G ratio of 4.30 and a beta of 1.36. The company has a debt-to-equity ratio of 14.42, a current ratio of 0.81 and a quick ratio of 0.76. Red Rock Resorts, Inc. has a 1-year low of $47.56 and a 1-year high of $68.99.

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 analysts’ expectations of $505.63 million. Red Rock Resorts had a return on equity of 61.67% and a net margin of 9.21%.The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 earnings per share. On average, equities analysts predict that Red Rock Resorts, Inc. will post 1.53 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.8%. Red Rock Resorts’s dividend payout ratio is currently 33.44%.

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.