Dynamic Technology Lab Private Ltd Invests $1.78 Million in Red Rock Resorts, Inc. (NASDAQ:RRR)

Dynamic Technology Lab Private Ltd purchased a new stake in Red Rock Resorts, Inc. (NASDAQ:RRR) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 32,623 shares of the company’s stock, valued at approximately $1,776,000.

Other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE raised its stake in Red Rock Resorts by 2,223.9% during 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 purchased a new stake in shares of Red Rock Resorts during the 2nd quarter valued at approximately $98,000. nVerses Capital LLC acquired a new position in Red Rock Resorts in the second quarter valued at approximately $154,000. Ritholtz Wealth Management purchased a new position in Red Rock Resorts in the third quarter worth approximately $215,000. Finally, Mayfair Advisory Group LLC acquired a new stake in Red Rock Resorts during the third quarter worth $218,000. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Stock Performance

NASDAQ:RRR opened at $50.49 on Tuesday. Red Rock Resorts, Inc. has a 52 week low of $43.38 and a 52 week high of $63.28. The company has a fifty day simple moving average of $52.71 and a two-hundred day simple moving average of $53.64. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The company has a market cap of $5.33 billion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 6.30 and a beta of 2.04.

Red Rock Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, December 16th. This represents a $1.00 annualized dividend and a yield of 1.98%. Red Rock Resorts’s payout ratio is 37.04%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Barclays decreased 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. Morgan Stanley upped their target price on shares of Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 4th. Wells Fargo & Company lowered their target price on shares of Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. Truist Financial reduced their price target on shares of Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating on the stock in a research note on Wednesday, October 23rd. Finally, Macquarie lowered their price objective 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, Red Rock Resorts currently has an average rating of “Moderate Buy” and a consensus target price of $60.42.

About Red Rock Resorts

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.