Quantinno Capital Management LP Buys 22,065 Shares of Red Rock Resorts, Inc. $RRR

Quantinno Capital Management LP lifted its stake in Red Rock Resorts, Inc. (NASDAQ:RRR) by 167.7% in the first quarter, HoldingsChannel.com reports. The firm owned 35,223 shares of the company’s stock after purchasing an additional 22,065 shares during the quarter. Quantinno Capital Management LP’s holdings in Red Rock Resorts were worth $1,880,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Renaissance Technologies LLC boosted its position in Red Rock Resorts by 204.7% in the 1st quarter. Renaissance Technologies LLC now owns 300,400 shares of the company’s stock valued at $16,029,000 after buying an additional 201,800 shares during the last quarter. Inceptionr LLC raised its position in shares of Red Rock Resorts by 3.9% during the first quarter. Inceptionr LLC now owns 13,283 shares of the company’s stock worth $709,000 after acquiring an additional 499 shares during the last quarter. Orvieto Partners L.P. bought a new stake in shares of Red Rock Resorts during the first quarter worth $2,668,000. Sei Investments Co. lifted its stake in shares of Red Rock Resorts by 39.1% during the first quarter. Sei Investments Co. now owns 31,754 shares of the company’s stock valued at $1,694,000 after acquiring an additional 8,928 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Red Rock Resorts by 17.4% during the first quarter. First Trust Advisors LP now owns 89,530 shares of the company’s stock valued at $4,777,000 after acquiring an additional 13,275 shares during the period. Institutional investors own 47.84% of the company’s stock.

Insider Buying and Selling

In other Red Rock Resorts news, President Scott Kreeger sold 31,159 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $61.78, for a total transaction of $1,925,003.02. Following the sale, the president directly owned 203,881 shares in the company, valued at approximately $12,595,768.18. This trade represents a 13.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 54.34% of the company’s stock.

Red Rock Resorts Stock Performance

RRR stock opened at $63.04 on Wednesday. The business’s 50-day moving average price is $63.10 and its two-hundred day moving average price is $59.82. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 14.42. The firm has a market cap of $6.62 billion, a PE ratio of 22.28, a P/E/G ratio of 4.56 and a beta of 1.36. Red Rock Resorts, Inc. has a 1-year low of $50.52 and a 1-year high of $68.99.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.16. The company had revenue of $510.26 million during the quarter, compared to the consensus estimate of $500.08 million. Red Rock Resorts had a return on equity of 55.65% and a net margin of 8.43%.The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.95 earnings per share. As a group, research analysts forecast that Red Rock Resorts, Inc. will post 1.5 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Red Rock Resorts’s dividend payout ratio is presently 36.75%.

Analyst Upgrades and Downgrades

RRR has been the subject of a number of research reports. Barclays lifted their price objective on Red Rock Resorts from $72.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $72.00 target price on shares of Red Rock Resorts in a research report on Thursday, April 30th. Truist Financial raised their target price on shares of Red Rock Resorts from $68.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Wells Fargo & Company lifted their price target on shares of Red Rock Resorts from $75.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $73.00 price target on shares of Red Rock Resorts in a research note on Wednesday, July 15th. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $71.88.

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.