Crystal Rock Capital Management Raises Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

Crystal Rock Capital Management grew its holdings in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 19.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 54,200 shares of the company’s stock after purchasing an additional 8,700 shares during the quarter. Red Rock Resorts comprises approximately 1.7% of Crystal Rock Capital Management’s portfolio, making the stock its 21st biggest position. Crystal Rock Capital Management’s holdings in Red Rock Resorts were worth $2,951,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bamco Inc. NY lifted its holdings in shares of Red Rock Resorts by 0.5% during the 1st quarter. Bamco Inc. NY now owns 10,409,100 shares of the company’s stock valued at $622,672,000 after purchasing an additional 50,246 shares during the last quarter. Vanguard Group Inc. raised its stake in Red Rock Resorts by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 5,136,942 shares of the company’s stock worth $307,292,000 after acquiring an additional 209,593 shares during the last quarter. Eminence Capital LP raised its stake in Red Rock Resorts by 23.7% in the 2nd quarter. Eminence Capital LP now owns 1,952,754 shares of the company’s stock worth $107,265,000 after acquiring an additional 374,128 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in Red Rock Resorts by 26.7% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company’s stock worth $65,706,000 after acquiring an additional 251,855 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Red Rock Resorts by 6.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 404,153 shares of the company’s stock worth $22,200,000 after acquiring an additional 24,992 shares during the last quarter. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Price Performance

NASDAQ:RRR opened at $52.54 on Tuesday. Red Rock Resorts, Inc. has a 52 week low of $40.22 and a 52 week high of $63.28. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 15.15. The stock has a market capitalization of $5.55 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 5.61 and a beta of 2.04. The stock’s 50-day moving average price is $53.59 and its 200-day moving average price is $53.84.

Red Rock Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Monday, December 16th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 37.04%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their target price on Red Rock Resorts from $62.00 to $69.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Barclays reduced their target price on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday. Wells Fargo & Company cut their price target on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. Truist Financial cut their price target on Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. Finally, Stifel Nicolaus increased their price target on Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.25.

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.