Red Rock Resorts Inc (RRR) Position Lessened by Cohen & Steers Inc.
Cohen & Steers Inc. trimmed its holdings in shares of Red Rock Resorts Inc (NASDAQ:RRR) by 13.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,497,109 shares of the company’s stock after selling 1,176,686 shares during the quarter. Cohen & Steers Inc. owned 6.46% of Red Rock Resorts worth $173,633,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Cipher Capital LP acquired a new stake in shares of Red Rock Resorts during the 2nd quarter worth about $1,795,000. California State Teachers Retirement System increased its position in shares of Red Rock Resorts by 103.2% during the 2nd quarter. California State Teachers Retirement System now owns 120,408 shares of the company’s stock worth $2,836,000 after purchasing an additional 61,164 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Red Rock Resorts by 1.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,450,279 shares of the company’s stock worth $81,254,000 after purchasing an additional 58,707 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Red Rock Resorts by 16.0% during the 2nd quarter. Vanguard Group Inc. now owns 4,831,772 shares of the company’s stock worth $113,788,000 after purchasing an additional 666,099 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of Red Rock Resorts by 65.9% during the 3rd quarter. Swiss National Bank now owns 113,300 shares of the company’s stock worth $2,624,000 after purchasing an additional 45,000 shares during the last quarter. 64.35% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on RRR. Deutsche Bank raised their price objective on Red Rock Resorts from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. J P Morgan Chase & Co reissued a “buy” rating and set a $33.00 price objective on shares of Red Rock Resorts in a research report on Tuesday, November 28th. ValuEngine upgraded Red Rock Resorts from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Bank of America raised their target price on Red Rock Resorts from $26.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Finally, BidaskClub upgraded Red Rock Resorts from a “strong sell” rating to a “sell” rating in a report on Friday, September 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $28.50.
Red Rock Resorts Inc (NASDAQ RRR) opened at $31.88 on Friday. Red Rock Resorts Inc has a twelve month low of $20.87 and a twelve month high of $32.33. The company has a market capitalization of $3,680.00 and a PE ratio of 22.24. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 4.41.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Wednesday, November 15th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Tuesday, November 14th. Red Rock Resorts’s dividend payout ratio (DPR) is 38.83%.
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Red Rock Resorts Company Profile
Red Rock Resorts, Inc is a gaming, development and management company. The Company’s segments include Las Vegas operations, Native American management, and Corporate and other. The Las Vegas operations segment includes all of its Las Vegas area casino properties and the Native American management segment includes its Native American management arrangements.
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