Great Lakes Advisors LLC Purchases Shares of 96,098 Red Rock Resorts, Inc. (NASDAQ:RRR)

Great Lakes Advisors LLC acquired a new position in Red Rock Resorts, Inc. (NASDAQ:RRR) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 96,098 shares of the company’s stock, valued at approximately $4,495,000. Great Lakes Advisors LLC owned about 0.09% of Red Rock Resorts as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. purchased a new stake in Red Rock Resorts in the first quarter valued at $371,000. JPMorgan Chase & Co. boosted its stake in shares of Red Rock Resorts by 463.8% in the first quarter. JPMorgan Chase & Co. now owns 304,173 shares of the company’s stock worth $14,771,000 after buying an additional 250,227 shares during the last quarter. Raymond James & Associates acquired a new stake in Red Rock Resorts during the first quarter worth about $1,307,000. Bank of Montreal Can purchased a new position in Red Rock Resorts during the first quarter valued at approximately $303,000. Finally, MetLife Investment Management LLC lifted its holdings in Red Rock Resorts by 34.4% in the first quarter. MetLife Investment Management LLC now owns 28,612 shares of the company’s stock valued at $1,389,000 after acquiring an additional 7,318 shares during the period. Institutional investors and hedge funds own 51.21% of the company’s stock.

Red Rock Resorts Stock Performance

NASDAQ:RRR opened at $44.99 on Tuesday. Red Rock Resorts, Inc. has a twelve month low of $37.82 and a twelve month high of $51.35. The company has a market cap of $4.70 billion, a P/E ratio of 12.89, a P/E/G ratio of 21.41 and a beta of 2.14. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 20.81. The company’s 50-day moving average price is $41.71 and its 200-day moving average price is $44.73.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Tuesday, November 7th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.19. Red Rock Resorts had a return on equity of 159.42% and a net margin of 12.54%. The company had revenue of $411.61 million for the quarter, compared to analyst estimates of $410.87 million. During the same quarter in the previous year, the company posted $0.84 earnings per share. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. On average, sell-side analysts forecast that Red Rock Resorts, Inc. will post 1.56 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a $0.25 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.00 annualized dividend and a yield of 2.22%. Red Rock Resorts’s payout ratio is 28.65%.

Analyst Ratings Changes

Several analysts recently commented on RRR shares. Morgan Stanley dropped their price target on shares of Red Rock Resorts from $50.00 to $49.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 8th. Wells Fargo & Company decreased their target price on Red Rock Resorts from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 7th. JPMorgan Chase & Co. cut their price target on shares of Red Rock Resorts from $54.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, November 8th. Truist Financial decreased their price objective on shares of Red Rock Resorts from $50.00 to $46.00 and set a “hold” rating on the stock in a report on Wednesday, October 18th. Finally, Susquehanna initiated coverage on shares of Red Rock Resorts in a research note on Monday, September 11th. They set a “positive” rating and a $52.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.29.

Red Rock Resorts Profile

Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, develops and operates casino and entertainment properties in the United States. It operates through two segments, Las Vegas Operations and Native American Management. The company owns and operates 6 gaming and entertainment facilities, and 9 smaller casinos in the Las Vegas regional market.