OFI Invest Asset Management Makes New Investment in Red Rock Resorts, Inc. (NASDAQ:RRR)

OFI Invest Asset Management acquired a new position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 46,000 shares of the company’s stock, valued at approximately $2,054,000.

Other hedge funds have also recently bought and sold shares of the company. Quarry LP raised its position in shares of Red Rock Resorts by 479.4% in the third quarter. Quarry LP now owns 1,124 shares of the company’s stock valued at $61,000 after buying an additional 930 shares in the last quarter. US Bancorp DE raised its position in shares of Red Rock Resorts by 2,223.9% in the third quarter. US Bancorp DE now owns 1,557 shares of the company’s stock valued at $85,000 after buying an additional 1,490 shares in the last quarter. KBC Group NV raised its position in shares of Red Rock Resorts by 37.1% in the fourth quarter. KBC Group NV now owns 1,996 shares of the company’s stock valued at $92,000 after buying an additional 540 shares in the last quarter. Mayfair Advisory Group LLC raised its position in shares of Red Rock Resorts by 15.1% in the fourth quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock valued at $208,000 after buying an additional 591 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Red Rock Resorts in the third quarter valued at approximately $233,000. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Red Rock Resorts Stock Performance

Shares of Red Rock Resorts stock opened at $47.01 on Monday. 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, Inc. has a twelve month low of $42.46 and a twelve month high of $63.28. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of 18.73, a P/E/G ratio of 4.32 and a beta of 2.01. The company’s fifty day moving average is $48.24 and its 200 day moving average is $50.81.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. Sell-side analysts forecast that Red Rock Resorts, Inc. will post 1.76 EPS for the current year.

Red Rock Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.13%. Red Rock Resorts’s dividend payout ratio (DPR) is currently 39.84%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RRR. Susquehanna boosted their price objective on shares of Red Rock Resorts from $60.00 to $61.00 and gave the company a “positive” rating in a research report on Wednesday, February 12th. Mizuho boosted their price objective on shares of Red Rock Resorts from $44.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Truist Financial lowered their price objective on shares of Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. Stifel Nicolaus boosted their price objective on shares of Red Rock Resorts from $50.00 to $54.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. Finally, Jefferies Financial Group restated a “hold” rating and set a $51.00 price objective (down from $64.00) on shares of Red Rock Resorts in a research report on Friday, January 3rd. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $57.33.

Red Rock Resorts 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.