Trexquant Investment LP Acquires New Shares in Red Rock Resorts, Inc. (NASDAQ:RRR)

Trexquant Investment LP bought a new position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 114,034 shares of the company’s stock, valued at approximately $5,273,000. Trexquant Investment LP owned about 0.11% of Red Rock Resorts as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP raised its position in Red Rock Resorts by 479.4% in the third quarter. Quarry LP now owns 1,124 shares of the company’s stock valued at $61,000 after purchasing an additional 930 shares during the period. Wellington Management Group LLP raised its position in shares of Red Rock Resorts by 239.0% during the 3rd quarter. Wellington Management Group LLP now owns 185,018 shares of the company’s stock worth $10,072,000 after acquiring an additional 130,434 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Red Rock Resorts during the third quarter worth approximately $233,000. Barclays PLC lifted its position in Red Rock Resorts by 227.9% in the third quarter. Barclays PLC now owns 78,932 shares of the company’s stock valued at $4,297,000 after acquiring an additional 54,863 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Red Rock Resorts by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,171,267 shares of the company’s stock valued at $63,776,000 after purchasing an additional 14,029 shares during the last quarter. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on RRR shares. Mizuho upped their price target on shares of Red Rock Resorts from $44.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Stifel Nicolaus lifted their price objective on shares of Red Rock Resorts from $50.00 to $54.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. Susquehanna upped their price objective on shares of Red Rock Resorts from $60.00 to $61.00 and gave the stock a “positive” rating in a research report on Wednesday, February 12th. Truist Financial lowered their target price on shares of Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $51.00 price target (down from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $57.33.

Red Rock Resorts Stock Performance

RRR opened at $37.62 on Friday. Red Rock Resorts, Inc. has a 1-year low of $36.02 and a 1-year high of $62.25. The stock has a market cap of $3.99 billion, a P/E ratio of 14.99, a P/E/G ratio of 4.32 and a beta of 1.69. The stock’s 50 day simple moving average is $47.37 and its 200 day simple moving average is $49.18. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96.

Red Rock Resorts (NASDAQ:RRR) last posted its earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. As a group, equities analysts anticipate that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 2.66%. Red Rock Resorts’s dividend payout ratio (DPR) is currently 39.84%.

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.