Hantz Financial Services Inc. Purchases New Shares in Red Rock Resorts, Inc. (NASDAQ:RRR)

Hantz Financial Services Inc. acquired a new stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 261,852 shares of the company’s stock, valued at approximately $14,384,000. Hantz Financial Services Inc. owned 0.25% of Red Rock Resorts at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Red Rock Resorts by 7.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,071 shares of the company’s stock valued at $644,000 after purchasing an additional 870 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Red Rock Resorts by 11.7% during the fourth quarter. New York State Common Retirement Fund now owns 21,206 shares of the company’s stock valued at $1,131,000 after purchasing an additional 2,226 shares in the last quarter. Truist Financial Corp boosted its position in shares of Red Rock Resorts by 2.4% during the fourth quarter. Truist Financial Corp now owns 26,837 shares of the company’s stock valued at $1,431,000 after buying an additional 627 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Red Rock Resorts by 21.3% in the 4th quarter. Russell Investments Group Ltd. now owns 21,686 shares of the company’s stock worth $1,157,000 after buying an additional 3,810 shares in the last quarter. Finally, Kestra Private Wealth Services LLC lifted its stake in Red Rock Resorts by 5.1% during the 4th quarter. Kestra Private Wealth Services LLC now owns 29,000 shares of the company’s stock valued at $1,547,000 after acquiring an additional 1,412 shares during the period. Institutional investors own 47.84% of the company’s stock.

Insider Buying and Selling at Red Rock Resorts

In other news, CEO Frank J. Fertitta III bought 67,000 shares of the stock in a transaction on Thursday, August 1st. The stock was acquired at an average cost of $54.49 per share, for a total transaction of $3,650,830.00. Following the acquisition, the chief executive officer now owns 45,914,301 shares of the company’s stock, valued at $2,501,870,261.49. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Frank J. Fertitta III bought 67,000 shares of the business’s stock in a transaction 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 completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Kord Nichols sold 49,464 shares of Red Rock Resorts 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 disclosure for this sale can be found here. Insiders purchased a total of 200,000 shares of company stock valued at $10,426,000 in the last three months. Company insiders own 53.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RRR. Stifel Nicolaus lifted their price target on shares of Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Bank of America upgraded Red Rock Resorts from an “underperform” rating to a “neutral” rating and dropped their price target for the stock from $57.00 to $55.00 in a research note on Monday, May 13th. Barclays lifted 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. Macquarie increased their price objective on shares of 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, Truist Financial cut their target price on shares of Red Rock Resorts from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Red Rock Resorts has an average rating of “Moderate Buy” and a consensus price target of $63.33.

Red Rock Resorts Stock Up 0.9 %

Shares of RRR opened at $58.28 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 15.15. The business has a fifty day moving average of $55.92 and a 200 day moving average of $55.55. The company has a market cap of $6.15 billion, a PE ratio of 20.24, a P/E/G ratio of 5.44 and a beta of 2.04. Red Rock Resorts, Inc. has a 52-week low of $37.82 and a 52-week high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Tuesday, July 23rd. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.16. The firm had revenue of $486.40 million during the quarter, compared to analyst estimates of $475.80 million. Red Rock Resorts had a net margin of 9.21% and a return on equity of 83.84%. The business’s revenue was up 16.9% on a year-over-year basis. During the same quarter last year, the business earned $0.65 EPS. On average, sell-side analysts expect that Red Rock Resorts, Inc. will post 1.66 EPS for the current year.

Red Rock Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, September 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.72%. Red Rock Resorts’s payout ratio is 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.