Franklin Resources Inc. Sells 37,884 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Franklin Resources Inc. decreased its stake in Red Rock Resorts, Inc. (NASDAQ:RRR) by 3.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 958,195 shares of the company’s stock after selling 37,884 shares during the period. Franklin Resources Inc. owned 0.91% of Red Rock Resorts worth $50,545,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Quarry LP boosted its holdings in shares of Red Rock Resorts by 479.4% during the 3rd quarter. Quarry LP now owns 1,124 shares of the company’s stock worth $61,000 after buying an additional 930 shares in the last quarter. US Bancorp DE grew its holdings in Red Rock Resorts by 2,223.9% in the third quarter. US Bancorp DE now owns 1,557 shares of the company’s stock worth $85,000 after purchasing an additional 1,490 shares during the period. Point72 DIFC Ltd acquired a new stake in Red Rock Resorts in the second quarter worth $98,000. nVerses Capital LLC bought a new stake in Red Rock Resorts in the second quarter valued at $154,000. Finally, Ritholtz Wealth Management acquired a new position in shares of Red Rock Resorts during the third quarter valued at about $215,000. 47.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RRR has been the topic of a number of research reports. Barclays dropped their price target on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. JMP Securities reiterated a “market outperform” rating and issued a $65.00 target price on shares of Red Rock Resorts in a report on Monday, October 14th. Truist Financial decreased their price target on shares of Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. Wells Fargo & Company dropped their price objective on shares of Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 17th. Finally, Macquarie decreased their target price on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.42.

Red Rock Resorts Trading Down 1.5 %

Shares of Red Rock Resorts stock opened at $48.06 on Wednesday. The firm has a market cap of $5.08 billion, a PE ratio of 17.80, a P/E/G ratio of 6.69 and a beta of 2.00. Red Rock Resorts, Inc. has a 1 year low of $47.18 and a 1 year high of $63.28. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. The stock has a fifty day moving average price of $51.30 and a 200-day moving average price of $53.58.

Red Rock Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 2.08%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 37.04%.

Red Rock Resorts 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.