Dynamic Technology Lab Private Ltd Invests $1.78 Million in Red Rock Resorts, Inc. (NASDAQ:RRR)

Dynamic Technology Lab Private Ltd bought a new stake in Red Rock Resorts, Inc. (NASDAQ:RRR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 32,623 shares of the company’s stock, valued at approximately $1,776,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Red Rock Resorts by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 5,136,942 shares of the company’s stock valued at $307,292,000 after acquiring an additional 209,593 shares during the period. Eminence Capital LP lifted its position in Red Rock Resorts by 23.7% during the second quarter. Eminence Capital LP now owns 1,952,754 shares of the company’s stock valued at $107,265,000 after purchasing an additional 374,128 shares during the period. Vaughan Nelson Investment Management L.P. lifted its position in Red Rock Resorts by 26.7% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company’s stock valued at $65,706,000 after purchasing an additional 251,855 shares during the period. Westfield Capital Management Co. LP boosted its holdings in Red Rock Resorts by 3.5% in the third quarter. Westfield Capital Management Co. LP now owns 1,134,509 shares of the company’s stock valued at $61,763,000 after purchasing an additional 38,443 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Red Rock Resorts by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 577,108 shares of the company’s stock worth $31,418,000 after purchasing an additional 4,810 shares during the period. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RRR shares. Wells Fargo & Company decreased their price objective on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. Mizuho downgraded Red Rock Resorts from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $57.00 to $44.00 in a report on Monday. Truist Financial dropped their price objective on shares of Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating on the stock in a research note on Wednesday, October 23rd. Barclays decreased their target price on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Finally, 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. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.42.

Red Rock Resorts Price Performance

NASDAQ:RRR opened at $50.49 on Tuesday. The stock has a 50 day moving average of $52.71 and a two-hundred day moving average of $53.64. Red Rock Resorts, Inc. has a 12 month low of $43.38 and a 12 month high of $63.28. The firm has a market cap of $5.33 billion, a P/E ratio of 18.70, a price-to-earnings-growth ratio of 6.30 and a beta of 2.04. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28.

Red Rock Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.98%. The ex-dividend date is Monday, December 16th. Red Rock Resorts’s dividend payout ratio is currently 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.