O Shaughnessy Asset Management LLC Sells 2,244 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

O Shaughnessy Asset Management LLC lessened its holdings in Red Rock Resorts, Inc. (NASDAQ:RRRGet Rating) by 7.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,271 shares of the company’s stock after selling 2,244 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Red Rock Resorts were worth $976,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RRR. Truist Financial Corp boosted its position in shares of Red Rock Resorts by 17.7% in the first quarter. Truist Financial Corp now owns 6,296 shares of the company’s stock valued at $305,000 after acquiring an additional 949 shares during the period. Versor Investments LP bought a new stake in shares of Red Rock Resorts in the first quarter valued at about $430,000. Envestnet Asset Management Inc. bought a new stake in shares of Red Rock Resorts in the first quarter valued at about $371,000. New York State Common Retirement Fund boosted its position in shares of Red Rock Resorts by 45.4% in the first quarter. New York State Common Retirement Fund now owns 194,996 shares of the company’s stock valued at $9,469,000 after acquiring an additional 60,926 shares during the period. Finally, Aigen Investment Management LP bought a new stake in shares of Red Rock Resorts in the first quarter valued at about $789,000. Institutional investors own 52.30% of the company’s stock.

Insider Activity

In other news, COO Robert A. Finch sold 22,663 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $39.41, for a total value of $893,148.83. Following the completion of the transaction, the chief operating officer now owns 111,214 shares of the company’s stock, valued at $4,382,943.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 50.18% of the stock is currently owned by insiders.

Red Rock Resorts Stock Performance

Red Rock Resorts stock opened at $44.47 on Friday. The business has a 50 day moving average of $39.40 and a 200-day moving average of $38.15. Red Rock Resorts, Inc. has a 1 year low of $30.98 and a 1 year high of $55.84. The company has a debt-to-equity ratio of 352.28, a current ratio of 0.74 and a quick ratio of 0.69. The company has a market capitalization of $4.62 billion, a P/E ratio of 14.07, a P/E/G ratio of 6.65 and a beta of 2.19.

Red Rock Resorts Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, December 9th. Stockholders of record on Wednesday, November 30th will be paid a $1.00 dividend. This represents a dividend yield of 9.41%. The ex-dividend date of this dividend is Tuesday, November 29th. Red Rock Resorts’s dividend payout ratio is currently 31.65%.

Analyst Ratings Changes

Several research firms recently weighed in on RRR. JMP Securities began coverage on shares of Red Rock Resorts in a research report on Thursday, September 22nd. They set an “outperform” rating and a $50.00 price objective for the company. CBRE Group reaffirmed a “hold” rating and set a $44.00 price objective on shares of Red Rock Resorts in a research report on Thursday, October 20th. Morgan Stanley began coverage on shares of Red Rock Resorts in a research report on Monday. They set an “overweight” rating and a $52.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Red Rock Resorts from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, August 10th. Finally, Jefferies Financial Group began coverage on shares of Red Rock Resorts in a research report on Wednesday, September 7th. They set a “buy” rating and a $50.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $47.62.

Red Rock Resorts Profile

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Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, develops and operates casino and entertainment properties in the United States. It operates through two segments, Las Vegas Operations and Native American Management. The company owns and operates 9 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.

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Institutional Ownership by Quarter for Red Rock Resorts (NASDAQ:RRR)

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