Bamco Inc. NY Has $775.61 Million Stock Holdings in Red Rock Resorts, Inc. $RRR

Bamco Inc. NY lifted its position in Red Rock Resorts, Inc. (NASDAQ:RRR) by 2.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,519,892 shares of the company’s stock after acquiring an additional 250,725 shares during the quarter. Red Rock Resorts accounts for 2.1% of Bamco Inc. NY’s portfolio, making the stock its 10th largest position. Bamco Inc. NY owned about 11.83% of Red Rock Resorts worth $775,607,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Salomon & Ludwin LLC bought a new stake in Red Rock Resorts during the 4th quarter valued at about $25,000. Kestra Advisory Services LLC bought a new stake in Red Rock Resorts during the 4th quarter valued at about $27,000. GAMMA Investing LLC lifted its holdings in Red Rock Resorts by 53.8% during the 4th quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock valued at $47,000 after buying an additional 263 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Red Rock Resorts by 98.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,474 shares of the company’s stock valued at $91,000 after buying an additional 733 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in Red Rock Resorts during the 2nd quarter valued at about $94,000. Institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Stock Down 2.9%

Shares of Red Rock Resorts stock opened at $59.13 on Thursday. The firm’s 50 day moving average price is $56.11 and its 200-day moving average price is $59.06. 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, Inc. has a 52-week low of $49.47 and a 52-week high of $68.99. The company has a market cap of $6.21 billion, a P/E ratio of 19.01, a PEG ratio of 4.61 and a beta of 1.36.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.17). Red Rock Resorts had a return on equity of 61.67% and a net margin of 9.21%.The firm had revenue of $507.32 million during the quarter, compared to analysts’ expectations of $505.63 million. During the same period in the previous year, the firm earned $0.75 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts predict that Red Rock Resorts, Inc. will post 1.53 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

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. 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 payout ratio is presently 33.44%.

Analyst Ratings Changes

A number of brokerages recently weighed in on RRR. Benchmark decreased their price objective on shares of Red Rock Resorts from $67.00 to $63.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Truist Financial decreased their price objective on shares of Red Rock Resorts from $70.00 to $68.00 and set a “buy” rating for the company in a report on Thursday, April 30th. JPMorgan Chase & Co. decreased their price objective on shares of Red Rock Resorts from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. 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. Finally, Citizens Jmp decreased their price objective on shares of Red Rock Resorts from $71.00 to $67.00 and set a “market outperform” rating for the company in a report on Thursday, April 30th. Twelve analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $67.53.

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.