Red Rock Resorts, Inc. $RRR Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC increased its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 204.7% during the first quarter, Holdings Channel.com reports. The institutional investor owned 300,400 shares of the company’s stock after buying an additional 201,800 shares during the quarter. Renaissance Technologies LLC’s holdings in Red Rock Resorts were worth $16,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its stake in Red Rock Resorts by 2,248.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,354,644 shares of the company’s stock worth $82,715,000 after acquiring an additional 1,296,956 shares during the last quarter. Invesco Ltd. lifted its position in Red Rock Resorts by 345.6% during the 4th quarter. Invesco Ltd. now owns 1,054,086 shares of the company’s stock worth $65,301,000 after acquiring an additional 817,524 shares during the period. Wellington Management Group LLP purchased a new stake in Red Rock Resorts during the 4th quarter valued at about $45,724,000. State Street Corp grew its stake in Red Rock Resorts by 62.1% during the 4th quarter. State Street Corp now owns 1,814,812 shares of the company’s stock valued at $112,428,000 after purchasing an additional 695,575 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Red Rock Resorts by 656.8% in the fourth quarter. Millennium Management LLC now owns 373,038 shares of the company’s stock valued at $23,110,000 after purchasing an additional 323,749 shares during the period. 47.84% of the stock is owned by institutional investors and hedge funds.

Red Rock Resorts Stock Down 0.8%

Red Rock Resorts stock opened at $64.44 on Friday. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of 20.72, a price-to-earnings-growth ratio of 4.77 and a beta of 1.35. Red Rock Resorts, Inc. has a 52 week low of $50.52 and a 52 week high of $68.99. The business’s 50-day moving average price is $62.34 and its 200 day moving average price 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 announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.17). Red Rock Resorts had a net margin of 9.21% and a return on equity of 61.67%. The company had revenue of $507.32 million for the quarter, compared to analysts’ expectations of $505.63 million. During the same quarter in the prior year, the business posted $0.75 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Red Rock Resorts, Inc. will post 1.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RRR has been the subject of several research analyst reports. Zacks Research cut Red Rock Resorts from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Benchmark upped their target price on Red Rock Resorts from $63.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. The Goldman Sachs Group reiterated a “buy” rating and issued a $73.00 price target on shares of Red Rock Resorts in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $72.00 price target on shares of Red Rock Resorts in a research report on Thursday, April 30th. Finally, Stifel Nicolaus set a $70.00 price objective on shares of Red Rock Resorts in a research note on Friday, May 29th. Fourteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $71.24.

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.