Red Rock Resorts, Inc. (NASDAQ:RRR) Shares Acquired by King Luther Capital Management Corp

King Luther Capital Management Corp boosted its stake in Red Rock Resorts, Inc. (NASDAQ:RRR) by 9.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 70,132 shares of the company’s stock after acquiring an additional 6,089 shares during the quarter. King Luther Capital Management Corp’s holdings in Red Rock Resorts were worth $3,243,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arizona State Retirement System grew its position in shares of Red Rock Resorts by 1.5% in the fourth quarter. Arizona State Retirement System now owns 14,707 shares of the company’s stock valued at $680,000 after purchasing an additional 216 shares during the period. Avior Wealth Management LLC lifted its stake in Red Rock Resorts by 3.0% in the 3rd quarter. Avior Wealth Management LLC now owns 7,898 shares of the company’s stock valued at $430,000 after buying an additional 232 shares in the last quarter. KBC Group NV boosted its holdings in Red Rock Resorts by 37.1% in the 4th quarter. KBC Group NV now owns 1,996 shares of the company’s stock worth $92,000 after buying an additional 540 shares during the last quarter. Mayfair Advisory Group LLC increased its stake in Red Rock Resorts by 15.1% during the 4th quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock worth $208,000 after buying an additional 591 shares in the last quarter. Finally, Quarry LP raised its holdings in shares of Red Rock Resorts by 479.4% during the third quarter. Quarry LP now owns 1,124 shares of the company’s stock valued at $61,000 after acquiring an additional 930 shares during the last quarter. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Stock Performance

NASDAQ:RRR opened at $44.14 on Thursday. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 4.32 and a beta of 2.01. The company’s 50-day moving average is $48.10 and its two-hundred day moving average is $50.60. Red Rock Resorts, Inc. has a 1-year low of $42.33 and a 1-year high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last posted its earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share for the quarter, beating 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%. 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.25 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 2.27%. Red Rock Resorts’s payout ratio is 39.84%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RRR. Truist Financial lowered their price target on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. JMP Securities lowered their target price on shares of Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 16th. Jefferies Financial Group reiterated a “hold” rating and issued a $51.00 target price (down from $64.00) on shares of Red Rock Resorts in a research report on Friday, January 3rd. Stifel Nicolaus raised their price target on shares of Red Rock Resorts from $50.00 to $54.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. Finally, Mizuho upped 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 note on Wednesday, February 12th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.