Stoneridge Investment Partners LLC Sells 44,969 Shares of Red Rock Resorts, Inc. (RRR)
Stoneridge Investment Partners LLC decreased its position in Red Rock Resorts, Inc. (NASDAQ:RRR) by 42.8% during the second quarter, Holdings Channel reports. The firm owned 60,102 shares of the company’s stock after selling 44,969 shares during the period. Stoneridge Investment Partners LLC’s holdings in Red Rock Resorts were worth $1,415,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of RRR. Fifth Third Bancorp boosted its position in shares of Red Rock Resorts by 100.9% in the first quarter. Fifth Third Bancorp now owns 5,022 shares of the company’s stock worth $111,000 after buying an additional 2,522 shares during the period. UBS Group AG boosted its position in shares of Red Rock Resorts by 340.6% in the first quarter. UBS Group AG now owns 8,698 shares of the company’s stock worth $193,000 after buying an additional 6,724 shares during the period. SG Americas Securities LLC boosted its position in shares of Red Rock Resorts by 29.8% in the first quarter. SG Americas Securities LLC now owns 11,177 shares of the company’s stock worth $248,000 after buying an additional 2,568 shares during the period. Guggenheim Capital LLC acquired a new position in shares of Red Rock Resorts during the fourth quarter worth $275,000. Finally, PEAK6 Investments L.P. acquired a new position in shares of Red Rock Resorts during the first quarter worth $288,000. 58.14% of the stock is owned by institutional investors and hedge funds.
Shares of Red Rock Resorts, Inc. (RRR) opened at 22.83 on Thursday. The firm’s market cap is $1.50 billion. Red Rock Resorts, Inc. has a 12 month low of $20.58 and a 12 month high of $24.94. The company’s 50-day moving average is $23.80 and its 200-day moving average is $23.20.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, August 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.75%. Red Rock Resorts’s dividend payout ratio is currently 45.46%.
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A number of research analysts have recently weighed in on RRR shares. Stifel Nicolaus reissued a “buy” rating and set a $27.00 price objective on shares of Red Rock Resorts in a research note on Friday, July 14th. Bank of America Corporation reissued a “buy” rating and set a $26.00 price objective (up from $24.50) on shares of Red Rock Resorts in a research note on Monday, June 5th. Finally, Zacks Investment Research raised shares of Red Rock Resorts from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $26.14.
About Red Rock Resorts
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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