Point72 DIFC Ltd Invests $98,000 in Red Rock Resorts, Inc. (NASDAQ:RRR)

Point72 DIFC Ltd bought a new position in Red Rock Resorts, Inc. (NASDAQ:RRR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,783 shares of the company’s stock, valued at approximately $98,000.

A number of other large investors have also added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Red Rock Resorts in the 4th quarter worth approximately $12,880,000. Capital World Investors purchased a new position in Red Rock Resorts during the fourth quarter valued at $24,897,000. Eminence Capital LP raised its stake in shares of Red Rock Resorts by 21.1% in the fourth quarter. Eminence Capital LP now owns 2,373,556 shares of the company’s stock worth $126,582,000 after buying an additional 413,871 shares during the period. Virtu Financial LLC purchased a new position in Red Rock Resorts during the fourth quarter valued at approximately $212,000. Finally, Vaughan Nelson Investment Management L.P. boosted its position in shares of Red Rock Resorts by 24.9% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 944,340 shares of the company’s stock worth $56,491,000 after purchasing an additional 188,095 shares during the period. Institutional investors own 47.84% of the company’s stock.

Analyst Upgrades and Downgrades

RRR has been the topic of a number of analyst reports. Susquehanna lifted their target price on shares of Red Rock Resorts from $63.00 to $70.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Truist Financial dropped their price objective on Red Rock Resorts from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. Morgan Stanley lifted their target price on Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 4th. Stifel Nicolaus increased their price objective on shares of Red Rock Resorts from $59.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Finally, Barclays increased their price objective on shares of Red Rock Resorts from $63.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $63.50.

Red Rock Resorts Stock Performance

RRR opened at $54.12 on Wednesday. The company has a market cap of $5.72 billion, a P/E ratio of 18.79, a price-to-earnings-growth ratio of 5.47 and a beta of 2.04. 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 firm’s 50-day moving average price is $55.09 and its 200-day moving average price is $55.12. Red Rock Resorts, Inc. has a 52-week low of $37.82 and a 52-week high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.16. Red Rock Resorts had a net margin of 9.21% and a return on equity of 83.84%. The firm had revenue of $486.40 million for the quarter, compared to analyst estimates of $475.80 million. During the same period in the previous year, the company earned $0.65 earnings per share. The business’s quarterly revenue was up 16.9% compared to the same quarter last year. As a group, equities analysts anticipate that Red Rock Resorts, Inc. will post 1.66 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Monday, September 16th. Red Rock Resorts’s dividend payout ratio (DPR) is 34.72%.

Insider Activity at Red Rock Resorts

In related news, COO Kord Nichols sold 49,464 shares of Red Rock Resorts stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $58.00, for a total value of $2,868,912.00. Following the completion of the transaction, the chief operating officer now owns 71,946 shares in the company, valued at approximately $4,172,868. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Red Rock Resorts news, CEO Frank J. Fertitta III bought 67,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was acquired at an average price of $54.49 per share, with a total value of $3,650,830.00. Following the completion of the acquisition, the chief executive officer now directly owns 45,914,301 shares of the company’s stock, valued at $2,501,870,261.49. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Kord Nichols sold 49,464 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $58.00, for a total transaction of $2,868,912.00. Following the sale, the chief operating officer now directly owns 71,946 shares of the company’s stock, valued at approximately $4,172,868. The disclosure for this sale can be found here. Insiders bought a total of 200,000 shares of company stock worth $10,426,000 in the last three months. Company insiders own 53.28% of the company’s stock.

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.