Redwood Investments LLC lessened its stake in shares of Red Rock Resorts Inc (NASDAQ:RRR) by 36.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 411,839 shares of the company’s stock after selling 232,698 shares during the period. Redwood Investments LLC’s holdings in Red Rock Resorts were worth $10,646,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Shellback Capital LP purchased a new stake in Red Rock Resorts in the fourth quarter worth $1,715,000. Massmutual Trust Co. FSB ADV increased its stake in Red Rock Resorts by 39.2% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 18,626 shares of the company’s stock worth $378,000 after purchasing an additional 5,244 shares during the period. Thrivent Financial for Lutherans purchased a new stake in Red Rock Resorts in the fourth quarter worth $27,092,000. Cohen & Steers Inc. increased its stake in Red Rock Resorts by 2.9% in the fourth quarter. Cohen & Steers Inc. now owns 5,919,209 shares of the company’s stock worth $120,219,000 after purchasing an additional 165,784 shares during the period. Finally, Quantamental Technologies LLC purchased a new stake in Red Rock Resorts in the fourth quarter worth $142,000. Institutional investors own 63.90% of the company’s stock.
In related news, insider Joseph J. Hasson sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $28.83, for a total transaction of $43,245.00. Following the sale, the insider now owns 17,260 shares of the company’s stock, valued at $497,605.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Joseph J. Hasson sold 42,293 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $27.42, for a total value of $1,159,674.06. Following the sale, the insider now directly owns 58,921 shares in the company, valued at approximately $1,615,613.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 131,721 shares of company stock worth $3,487,693. Insiders own 0.40% of the company’s stock.
Shares of Red Rock Resorts stock opened at $22.48 on Friday. The firm has a market cap of $2.72 billion, a PE ratio of 17.16 and a beta of 2.11. The company has a debt-to-equity ratio of 3.52, a quick ratio of 0.82 and a current ratio of 0.86. Red Rock Resorts Inc has a 12 month low of $18.78 and a 12 month high of $36.99.
Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.16). The firm had revenue of $447.00 million for the quarter, compared to analysts’ expectations of $445.50 million. Red Rock Resorts had a net margin of 6.89% and a return on equity of 10.08%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.65 EPS. Sell-side analysts predict that Red Rock Resorts Inc will post 1.02 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.40 annualized dividend and a dividend yield of 1.78%. Red Rock Resorts’s dividend payout ratio is currently 30.53%.
Red Rock Resorts Company Profile
Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.
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