Red Rock Resorts, Inc. (NASDAQ:RRR) Position Cut by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 0.2% in the 3rd quarter, Holdings Channel reports. The fund owned 1,755,387 shares of the company’s stock after selling 3,226 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Red Rock Resorts were worth $95,563,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Covestor Ltd boosted its stake in Red Rock Resorts by 16,666.7% during the 1st quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $30,000 after purchasing an additional 500 shares during the period. US Bancorp DE raised its holdings in shares of Red Rock Resorts by 2,223.9% during the third quarter. US Bancorp DE now owns 1,557 shares of the company’s stock valued at $85,000 after buying an additional 1,490 shares during the last quarter. Point72 DIFC Ltd bought a new stake in shares of Red Rock Resorts during the second quarter valued at approximately $98,000. nVerses Capital LLC acquired a new position in shares of Red Rock Resorts during the second quarter worth approximately $154,000. Finally, Mayfair Advisory Group LLC bought a new position in Red Rock Resorts in the 3rd quarter worth approximately $218,000. Institutional investors own 47.84% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Truist Financial reduced their price target on Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. Barclays reduced their price objective on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Morgan Stanley raised their target price on shares of Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 4th. JMP Securities restated a “market outperform” rating and set a $65.00 price target on shares of Red Rock Resorts in a research report on Monday, October 14th. Finally, Mizuho reiterated an “outperform” rating and issued a $57.00 price objective (down from $67.00) on shares of Red Rock Resorts in a report on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.50.

Red Rock Resorts Trading Up 1.6 %

Red Rock Resorts stock opened at $50.85 on Friday. Red Rock Resorts, Inc. has a 1 year low of $43.38 and a 1 year high of $63.28. The firm’s 50 day moving average price is $52.76 and its two-hundred day moving average price is $53.62. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 6.11 and a beta of 2.04. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02.

Red Rock Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Monday, December 16th. Red Rock Resorts’s dividend payout ratio is 37.04%.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc, through its interest in Station Casinos LLC, develops and operates casino and entertainment properties in the United States. The company owns and operates gaming and entertainment facilities, including Durango Casino & Resort and smaller casinos in the Las Vegas regional market.