Tudor Investment Corp ET AL Acquires Shares of 247,521 Red Rock Resorts, Inc. $RRR

Tudor Investment Corp ET AL bought a new stake in Red Rock Resorts, Inc. (NASDAQ:RRR) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 247,521 shares of the company’s stock, valued at approximately $15,114,000.

A number of other institutional investors have also recently made changes to their positions in RRR. Strs Ohio bought a new position in shares of Red Rock Resorts during the 3rd quarter worth $37,000. Canada Pension Plan Investment Board bought a new stake in Red Rock Resorts in the 2nd quarter valued at about $94,000. Russell Investments Group Ltd. raised its stake in Red Rock Resorts by 1,385.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,872 shares of the company’s stock valued at $97,000 after acquiring an additional 1,746 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in Red Rock Resorts during the third quarter valued at about $136,000. Finally, Osaic Holdings Inc. lifted its holdings in Red Rock Resorts by 14.8% during the second quarter. Osaic Holdings Inc. now owns 2,996 shares of the company’s stock valued at $149,000 after purchasing an additional 387 shares during the last quarter. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Analysts Set New Price Targets

RRR has been the subject of several recent research reports. Stifel Nicolaus lifted their target price on shares of Red Rock Resorts from $71.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Weiss Ratings cut shares of Red Rock Resorts from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 16th. Barclays raised their price objective on shares of Red Rock Resorts from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Susquehanna lifted their price objective on shares of Red Rock Resorts from $69.00 to $77.00 and gave the company a “positive” rating in a research note on Wednesday, February 11th. Finally, Truist Financial restated a “buy” rating and set a $80.00 target price (up from $75.00) on shares of Red Rock Resorts in a research report on Wednesday, February 11th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $71.15.

Red Rock Resorts Price Performance

NASDAQ:RRR opened at $57.52 on Friday. Red Rock Resorts, Inc. has a 52-week low of $35.09 and a 52-week high of $68.99. The stock has a fifty day moving average of $61.59 and a 200 day moving average of $60.17. The company has a debt-to-equity ratio of 10.26, a quick ratio of 0.74 and a current ratio of 0.79. The firm has a market capitalization of $6.04 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 2.39 and a beta of 1.46.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Tuesday, February 10th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.34. Red Rock Resorts had a return on equity of 58.13% and a net margin of 9.35%.The business had revenue of $511.78 million for the quarter, compared to analyst estimates of $500.90 million. During the same period in the prior year, the company earned $0.76 EPS. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, research analysts expect that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, March 16th. Red Rock Resorts’s dividend payout ratio is 33.23%.

About Red Rock Resorts

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.