Red Rock Resorts, Inc. (NASDAQ:RRR) Shares Acquired by Long Pond Capital LP

Long Pond Capital LP boosted its position in Red Rock Resorts, Inc. (NASDAQ:RRR) by 142.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,474,153 shares of the company’s stock after purchasing an additional 866,320 shares during the quarter. Red Rock Resorts comprises about 3.5% of Long Pond Capital LP’s holdings, making the stock its 12th largest position. Long Pond Capital LP owned 1.40% of Red Rock Resorts worth $68,165,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RRR. Sterling Capital Management LLC boosted its holdings in shares of Red Rock Resorts by 654.7% during the fourth quarter. Sterling Capital Management LLC now owns 883 shares of the company’s stock worth $41,000 after purchasing an additional 766 shares during the last quarter. KBC Group NV grew its holdings in Red Rock Resorts by 37.1% in the 4th quarter. KBC Group NV now owns 1,996 shares of the company’s stock valued at $92,000 after buying an additional 540 shares during the period. Mayfair Advisory Group LLC grew its holdings in Red Rock Resorts by 15.1% in the fourth quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock valued at $208,000 after purchasing an additional 591 shares during the period. Cibc World Markets Corp purchased a new stake in shares of Red Rock Resorts during the 4th quarter valued at $213,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Red Rock Resorts during the third quarter worth about $233,000. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

Red Rock Resorts Price Performance

Shares of NASDAQ RRR opened at $40.76 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. Red Rock Resorts, Inc. has a fifty-two week low of $35.09 and a fifty-two week high of $61.73. The business has a 50 day moving average price of $45.69 and a two-hundred day moving average price of $48.27. The firm has a market cap of $4.32 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 4.32 and a beta of 1.69.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. Sell-side analysts expect that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend was Monday, March 17th. Red Rock Resorts’s payout ratio is currently 39.84%.

Analysts Set New Price Targets

RRR has been the subject of a number of research reports. Stifel Nicolaus boosted their target price on Red Rock Resorts from $50.00 to $54.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. JMP Securities dropped their price objective on shares of Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating for the company in a research report on Thursday, January 16th. Morgan Stanley lowered their price target on Red Rock Resorts from $45.00 to $43.00 and set an “equal weight” rating for the company in a report on Wednesday. Susquehanna reduced their price objective on Red Rock Resorts from $61.00 to $52.00 and set a “positive” rating on the stock in a research note on Wednesday. Finally, Truist Financial lowered their target price on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $55.50.

About Red Rock Resorts

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.