Schroder Investment Management Group Sells 29,380 Shares of Red Rock Resorts Inc (RRR)
Schroder Investment Management Group cut its holdings in Red Rock Resorts Inc (NASDAQ:RRR) by 3.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 895,846 shares of the company’s stock after selling 29,380 shares during the quarter. Schroder Investment Management Group owned 0.77% of Red Rock Resorts worth $20,784,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of RRR. Bamco Inc. NY lifted its position in Red Rock Resorts by 28.8% in the second quarter. Bamco Inc. NY now owns 5,545,089 shares of the company’s stock worth $130,587,000 after buying an additional 1,239,693 shares during the last quarter. Vanguard Group Inc. lifted its position in Red Rock Resorts by 16.0% in the second quarter. Vanguard Group Inc. now owns 4,831,772 shares of the company’s stock worth $113,788,000 after buying an additional 666,099 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its position in Red Rock Resorts by 1.9% in the third quarter. Diamond Hill Capital Management Inc. now owns 4,679,886 shares of the company’s stock worth $108,386,000 after buying an additional 86,124 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Red Rock Resorts by 1.7% in the second quarter. JPMorgan Chase & Co. now owns 3,450,279 shares of the company’s stock worth $81,254,000 after buying an additional 58,707 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Red Rock Resorts by 1.3% in the second quarter. Goldman Sachs Group Inc. now owns 1,773,069 shares of the company’s stock worth $41,756,000 after buying an additional 21,967 shares during the last quarter. 64.35% of the stock is owned by hedge funds and other institutional investors.
RRR has been the subject of a number of analyst reports. Deutsche Bank restated a “buy” rating and issued a $35.00 price target on shares of Red Rock Resorts in a research report on Tuesday, November 28th. Stifel Nicolaus reiterated a “buy” rating and set a $28.00 target price (up from $27.00) on shares of Red Rock Resorts in a research report on Tuesday, October 10th. Zacks Investment Research upgraded Red Rock Resorts from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Union Gaming Research downgraded Red Rock Resorts from a “buy” rating to a “hold” rating and decreased their target price for the stock from $28.00 to $27.00 in a research report on Thursday, November 9th. Finally, Bank of America lifted their target price on Red Rock Resorts from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $28.50.
Shares of Red Rock Resorts Inc (NASDAQ:RRR) opened at $31.73 on Tuesday. Red Rock Resorts Inc has a 52-week low of $20.87 and a 52-week high of $31.91. The firm has a market capitalization of $3,613.18, a price-to-earnings ratio of 22.06, a PEG ratio of 18.22 and a beta of 1.66. The company has a debt-to-equity ratio of 4.41, a quick ratio of 1.26 and a current ratio of 1.29.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Wednesday, November 15th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, November 14th. This represents a $0.40 annualized dividend and a dividend yield of 1.26%. Red Rock Resorts’s dividend payout ratio (DPR) is 90.91%.
About Red Rock Resorts
Red Rock Resorts, Inc is a gaming, development and management company. The Company’s segments include Las Vegas operations, Native American management, and Corporate and other. The Las Vegas operations segment includes all of its Las Vegas area casino properties and the Native American management segment includes its Native American management arrangements.
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