Bamco Inc. NY Increases Stock Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

Bamco Inc. NY grew its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 1.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,623,284 shares of the company’s stock after purchasing an additional 106,509 shares during the period. Red Rock Resorts makes up approximately 1.5% of Bamco Inc. NY’s investment portfolio, making the stock its 13th biggest position. Bamco Inc. NY owned 10.06% of Red Rock Resorts worth $578,332,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in RRR. 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 valued at $85,000 after purchasing an additional 1,490 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Red Rock Resorts in the 2nd quarter worth about $98,000. nVerses Capital LLC purchased a new stake in shares of Red Rock Resorts during the 2nd quarter valued at about $154,000. Ritholtz Wealth Management bought a new position in shares of Red Rock Resorts in the 3rd quarter valued at about $215,000. Finally, Mayfair Advisory Group LLC purchased a new position in Red Rock Resorts in the third quarter worth about $218,000. 47.84% of the stock is owned by institutional investors.

Red Rock Resorts Trading Up 0.5 %

NASDAQ:RRR opened at $50.09 on Monday. The firm has a 50-day simple moving average of $52.39 and a 200-day simple moving average of $53.60. Red Rock Resorts, Inc. has a one year low of $43.38 and a one year high of $63.28. The firm has a market cap of $5.29 billion, a P/E ratio of 18.55, a P/E/G ratio of 6.21 and a beta of 2.04. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02.

Red Rock Resorts Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RRR shares. Truist Financial lowered their price objective 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. Morgan Stanley raised their price target on Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 4th. JMP Securities reiterated a “market outperform” rating and set a $65.00 price objective on shares of Red Rock Resorts in a research report on Monday, October 14th. Barclays reduced their price objective on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Finally, Mizuho downgraded Red Rock Resorts from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $57.00 to $44.00 in a research report on Monday, November 25th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Red Rock Resorts presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.42.

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.