ClearAlpha Technologies LP Buys 1,443 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

ClearAlpha Technologies LP lifted its stake in Red Rock Resorts, Inc. (NASDAQ:RRR) by 24.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,333 shares of the company’s stock after acquiring an additional 1,443 shares during the period. ClearAlpha Technologies LP’s holdings in Red Rock Resorts were worth $399,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co raised its stake in shares of Red Rock Resorts by 13.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 9,860 shares of the company’s stock worth $590,000 after acquiring an additional 1,193 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Red Rock Resorts by 3.8% during the second quarter. Sequoia Financial Advisors LLC now owns 8,042 shares of the company’s stock worth $442,000 after purchasing an additional 292 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of Red Rock Resorts during the 2nd quarter valued at $2,358,000. Vaughan Nelson Investment Management L.P. boosted its position in shares of 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 purchasing an additional 251,855 shares in the last quarter. Finally, Institute for Wealth Management LLC. grew its stake in Red Rock Resorts by 57.8% during the 2nd quarter. Institute for Wealth Management LLC. now owns 11,804 shares of the company’s stock worth $648,000 after buying an additional 4,322 shares during the last quarter. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

Red Rock Resorts Stock Up 0.5 %

Shares of RRR opened at $50.09 on Monday. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 6.21 and a beta of 2.04. Red Rock Resorts, Inc. has a 52 week low of $43.38 and a 52 week high of $63.28. The stock’s 50-day moving average price is $52.39 and its 200-day moving average price is $53.60. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28.

Red Rock Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.00%. Red Rock Resorts’s payout ratio is 37.04%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RRR. Wells Fargo & Company decreased their price target on 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. Morgan Stanley increased their price objective 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. Barclays lowered their target price on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. JMP Securities reiterated a “market outperform” rating and set a $65.00 price objective on shares of Red Rock Resorts in a research note on Monday, October 14th. Finally, Macquarie dropped their price objective on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.