Red Rock Resorts, Inc. (NASDAQ:RRR) Shares Acquired by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. raised its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 57.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,804 shares of the company’s stock after acquiring an additional 4,322 shares during the period. Institute for Wealth Management LLC.’s holdings in Red Rock Resorts were worth $648,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Bamco Inc. NY boosted its position in shares of Red Rock Resorts by 0.5% during the 1st quarter. Bamco Inc. NY now owns 10,409,100 shares of the company’s stock worth $622,672,000 after purchasing an additional 50,246 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Red Rock Resorts by 4.3% in the first quarter. Vanguard Group Inc. now owns 5,136,942 shares of the company’s stock valued at $307,292,000 after acquiring an additional 209,593 shares in the last quarter. Eminence Capital LP boosted its stake in shares of Red Rock Resorts by 21.1% during the fourth quarter. Eminence Capital LP now owns 2,373,556 shares of the company’s stock valued at $126,582,000 after acquiring an additional 413,871 shares during the last quarter. Westfield Capital Management Co. LP increased its position in Red Rock Resorts by 2.4% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,386,676 shares of the company’s stock worth $73,951,000 after purchasing an additional 32,427 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in Red Rock Resorts by 26.7% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company’s stock valued at $65,706,000 after purchasing an additional 251,855 shares during the last quarter. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on RRR. Stifel Nicolaus boosted their price objective on shares of Red Rock Resorts from $59.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price target on Red Rock Resorts from $62.00 to $69.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Bank of America raised shares of Red Rock Resorts from an “underperform” rating to a “neutral” rating and cut their price target for the stock from $57.00 to $55.00 in a research note on Monday, May 13th. Macquarie upped their price target on Red Rock Resorts from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Barclays raised their price objective on Red Rock Resorts from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $63.33.

Insider Activity

In other Red Rock Resorts news, COO Kord Nichols sold 49,464 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $58.00, for a total value of $2,868,912.00. Following the sale, the chief operating officer now owns 71,946 shares in the company, valued at $4,172,868. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Kord Nichols sold 49,464 shares of the stock in a transaction dated Monday, July 29th. The shares were 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frank J. Fertitta III acquired 67,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average price of $54.49 per share, for a total transaction of $3,650,830.00. Following the purchase, the chief executive officer now directly owns 45,914,301 shares of the company’s stock, valued at $2,501,870,261.49. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 200,000 shares of company stock valued at $10,426,000. 53.28% of the stock is currently owned by company insiders.

Red Rock Resorts Stock Up 2.6 %

NASDAQ RRR traded up $1.43 during trading hours on Friday, reaching $56.25. 297,471 shares of the company traded hands, compared to its average volume of 465,066. The stock has a market capitalization of $5.94 billion, a PE ratio of 19.53, a PEG ratio of 5.44 and a beta of 2.04. Red Rock Resorts, Inc. has a 12 month low of $37.82 and a 12 month high of $63.28. The company has a 50 day moving average of $55.45 and a two-hundred day moving average of $55.56. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 15.15.

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

Red Rock Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.78%. The ex-dividend date is Monday, September 16th. Red Rock Resorts’s dividend payout ratio is presently 34.72%.

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.