State of New Jersey Common Pension Fund D Sells 2,652 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

State of New Jersey Common Pension Fund D lessened its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 7.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,421 shares of the company’s stock after selling 2,652 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Red Rock Resorts were worth $1,928,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in RRR. SG Americas Securities LLC bought a new position in Red Rock Resorts during the 1st quarter worth $236,000. ProShare Advisors LLC boosted its holdings in shares of Red Rock Resorts by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 8,559 shares of the company’s stock valued at $512,000 after purchasing an additional 674 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Red Rock Resorts by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 5,136,942 shares of the company’s stock valued at $307,292,000 after purchasing an additional 209,593 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Red Rock Resorts in the 1st quarter valued at $1,238,000. Finally, Covestor Ltd boosted its holdings in shares of Red Rock Resorts by 16,666.7% in the 1st quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $30,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Trading Up 1.3 %

Shares of Red Rock Resorts stock opened at $50.84 on Monday. The company’s fifty day simple moving average is $53.15 and its 200-day simple moving average is $53.76. The stock has a market capitalization of $5.37 billion, a PE ratio of 18.83, a P/E/G ratio of 6.33 and a beta of 2.04. Red Rock Resorts, Inc. has a 1-year low of $43.08 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 0.89.

Red Rock Resorts Dividend Announcement

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 given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 annualized dividend and a dividend yield of 1.97%. Red Rock Resorts’s payout ratio is 37.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. JMP Securities reissued a “market outperform” rating and set a $65.00 price objective on shares of Red Rock Resorts in a report on Monday, October 14th. Macquarie lowered their price objective on 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. Truist Financial cut their price target on 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. Mizuho restated an “outperform” rating and issued a $57.00 target price (down previously from $67.00) on shares of Red Rock Resorts in a research note on Tuesday, November 12th. Finally, Stifel Nicolaus upped their price objective on Red Rock Resorts from $59.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Five investment 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.50.

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.