Quarry LP Purchases 930 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Quarry LP increased its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR) by 479.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,124 shares of the company’s stock after purchasing an additional 930 shares during the quarter. Quarry LP’s holdings in Red Rock Resorts were worth $61,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. US Bancorp DE lifted its position in shares of Red Rock Resorts by 2,223.9% in the 3rd quarter. US Bancorp DE now owns 1,557 shares of the company’s stock worth $85,000 after purchasing an additional 1,490 shares during the period. Point72 DIFC Ltd bought a new position in Red Rock Resorts in the second quarter worth about $98,000. nVerses Capital LLC purchased a new stake in Red Rock Resorts in the second quarter worth about $154,000. Ritholtz Wealth Management bought a new stake in Red Rock Resorts during the 3rd quarter valued at approximately $215,000. Finally, Mayfair Advisory Group LLC bought a new stake in Red Rock Resorts during the 3rd quarter valued at approximately $218,000. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Stock Performance

RRR stock opened at $49.49 on Tuesday. The stock has a market capitalization of $5.23 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 6.69 and a beta of 2.01. The stock’s 50 day simple moving average is $51.92 and its 200 day simple moving average is $53.60. Red Rock Resorts, Inc. has a 12-month low of $46.19 and a 12-month high of $63.28. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28.

Red Rock Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, December 16th. This represents a $1.00 annualized dividend and a dividend yield of 2.02%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 37.04%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Morgan Stanley raised their target price on Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 4th. Mizuho cut shares of Red Rock Resorts from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $57.00 to $44.00 in a report on Monday, November 25th. Truist Financial lowered their price target on shares of Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. Barclays dropped their price target on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $65.00 price objective on shares of Red Rock Resorts in a research report on Monday, October 14th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.42.

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.