Advisor Group Holdings Inc. boosted its position in shares of Red Rock Resorts Inc (NASDAQ:RRR) by 19.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,364 shares of the company’s stock after purchasing an additional 1,889 shares during the period. Advisor Group Holdings Inc.’s holdings in Red Rock Resorts were worth $124,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of RRR. BNP Paribas Arbitrage SA increased its holdings in Red Rock Resorts by 305.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 51,659 shares of the company’s stock valued at $442,000 after purchasing an additional 38,909 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Red Rock Resorts by 906.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,209 shares of the company’s stock worth $35,000 after acquiring an additional 2,890 shares in the last quarter. Prudential Financial Inc. acquired a new position in Red Rock Resorts during the 2nd quarter worth about $146,000. Tudor Investment Corp Et Al acquired a new position in shares of Red Rock Resorts in the first quarter valued at approximately $257,000. Finally, Virtu Financial LLC purchased a new stake in Red Rock Resorts during the 2nd quarter worth approximately $146,000. Institutional investors own 50.82% of the company’s stock.
Shares of NASDAQ RRR traded down $0.25 during midday trading on Friday, reaching $17.65. 757,074 shares of the company were exchanged, compared to its average volume of 1,953,779. The stock has a market cap of $2.07 billion, a P/E ratio of -5.25 and a beta of 2.81. Red Rock Resorts Inc has a 1 year low of $2.76 and a 1 year high of $27.91. The stock has a fifty day simple moving average of $17.43 and a 200 day simple moving average of $12.92. The company has a current ratio of 2.04, a quick ratio of 1.96 and a debt-to-equity ratio of 6.82.
Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Tuesday, August 4th. The company reported ($1.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.04) by $0.03. Red Rock Resorts had a negative return on equity of 7.41% and a negative net margin of 16.61%. The business had revenue of $108.50 million for the quarter, compared to analyst estimates of $73.63 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. The company’s revenue for the quarter was down 77.5% compared to the same quarter last year. As a group, analysts forecast that Red Rock Resorts Inc will post -0.59 earnings per share for the current year.
RRR has been the topic of a number of analyst reports. ValuEngine lowered Red Rock Resorts from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 17th. Goldman Sachs Group boosted their price target on shares of Red Rock Resorts from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, September 14th. Truist boosted their target price on shares of Red Rock Resorts from $14.00 to $21.00 in a research note on Wednesday, September 2nd. Zacks Investment Research cut Red Rock Resorts from a “buy” rating to a “hold” rating and set a $19.00 price target on the stock. in a research note on Tuesday, October 6th. Finally, Deutsche Bank upped their price objective on Red Rock Resorts from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Red Rock Resorts presently has an average rating of “Buy” and a consensus target price of $17.73.
In other Red Rock Resorts news, CEO Frank J. Fertitta III bought 325,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were bought at an average price of $14.63 per share, for a total transaction of $4,754,750.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Frank J. Fertitta III purchased 290,000 shares of Red Rock Resorts stock in a transaction dated Friday, August 21st. The stock was acquired at an average cost of $16.94 per share, with a total value of $4,912,600.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 1,235,200 shares of company stock valued at $18,730,748. 43.75% of the stock is owned by insiders.
About Red Rock Resorts
Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.
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