Red Rock Resorts Inc (RRR) Shares Bought by Pier Capital LLC
Pier Capital LLC raised its position in shares of Red Rock Resorts Inc (NASDAQ:RRR) by 130.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 171,437 shares of the company’s stock after purchasing an additional 96,989 shares during the quarter. Pier Capital LLC owned 0.15% of Red Rock Resorts worth $5,743,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of RRR. SG Americas Securities LLC boosted its stake in shares of Red Rock Resorts by 86.0% in the first quarter. SG Americas Securities LLC now owns 5,640 shares of the company’s stock worth $165,000 after buying an additional 2,607 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Red Rock Resorts in the first quarter worth about $198,000. Guggenheim Capital LLC purchased a new stake in shares of Red Rock Resorts in the fourth quarter worth about $224,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Red Rock Resorts in the first quarter worth about $270,000. Finally, Prudential Financial Inc. boosted its stake in shares of Red Rock Resorts by 39.5% in the first quarter. Prudential Financial Inc. now owns 9,330 shares of the company’s stock worth $273,000 after buying an additional 2,640 shares during the last quarter. Hedge funds and other institutional investors own 59.47% of the company’s stock.
RRR has been the topic of a number of recent analyst reports. SunTrust Banks reiterated a “buy” rating and set a $38.00 price target on shares of Red Rock Resorts in a research report on Thursday. Zacks Investment Research upgraded Red Rock Resorts from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Saturday, July 21st. BidaskClub upgraded Red Rock Resorts from a “hold” rating to a “buy” rating in a research report on Saturday, July 14th. Nomura initiated coverage on Red Rock Resorts in a research report on Tuesday, May 8th. They set a “buy” rating and a $39.00 price target on the stock. Finally, Citigroup lowered their price target on Red Rock Resorts from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $35.30.
Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results on Tuesday, July 31st. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.08. The company had revenue of $416.19 million for the quarter, compared to the consensus estimate of $408.46 million. Red Rock Resorts had a return on equity of 13.23% and a net margin of 10.74%. research analysts predict that Red Rock Resorts Inc will post 1.36 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, September 13th. This represents a $0.40 dividend on an annualized basis and a yield of 1.24%. Red Rock Resorts’s dividend payout ratio is currently 64.52%.
Red Rock Resorts Profile
Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.
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