Ring Mountain Capital LLC Purchases New Shares in Red Rock Resorts, Inc. (NASDAQ:RRR)

Ring Mountain Capital LLC purchased a new stake in Red Rock Resorts, Inc. (NASDAQ:RRR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,538 shares of the company’s stock, valued at approximately $487,000.

Several other institutional investors have also added to or reduced their stakes in RRR. Quarry LP boosted its stake in Red Rock Resorts by 479.4% in the 3rd quarter. Quarry LP now owns 1,124 shares of the company’s stock valued at $61,000 after purchasing an additional 930 shares during the period. US Bancorp DE boosted its stake in Red Rock Resorts by 2,223.9% in the 3rd quarter. US Bancorp DE now owns 1,557 shares of the company’s stock valued at $85,000 after purchasing an additional 1,490 shares during the period. KBC Group NV boosted its stake in Red Rock Resorts by 37.1% in the 4th quarter. KBC Group NV now owns 1,996 shares of the company’s stock valued at $92,000 after purchasing an additional 540 shares during the period. Mayfair Advisory Group LLC boosted its stake in Red Rock Resorts by 15.1% in the 4th quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock valued at $208,000 after purchasing an additional 591 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in Red Rock Resorts in the 3rd quarter valued at $233,000. 47.84% of the stock is currently owned by institutional investors.

Red Rock Resorts Price Performance

Red Rock Resorts stock opened at $49.06 on Tuesday. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02. Red Rock Resorts, Inc. has a 52 week low of $42.46 and a 52 week high of $63.28. The stock has a market capitalization of $5.18 billion, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 4.32 and a beta of 2.02. The stock has a fifty day moving average of $48.15 and a 200-day moving average of $51.04.

Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. On average, sell-side analysts expect that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

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 of this dividend is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.04%. Red Rock Resorts’s payout ratio is presently 39.84%.

Analyst Ratings Changes

Several research firms recently issued reports on RRR. Barclays reduced their price target on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Macquarie cut their target price on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Jefferies Financial Group reiterated a “hold” rating and set a $51.00 target price (down from $64.00) on shares of Red Rock Resorts in a research report on Friday, January 3rd. JMP Securities cut their target price on Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating for the company in a research report on Thursday, January 16th. Finally, Truist Financial cut their target price on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $57.33.

About Red Rock Resorts

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.