Red Rock Resorts Inc (RRR) Position Increased by Pier Capital LLC

Pier Capital LLC lifted its position in Red Rock Resorts Inc (NASDAQ:RRR) by 20.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 148,882 shares of the company’s stock after buying an additional 24,766 shares during the period. Pier Capital LLC’s holdings in Red Rock Resorts were worth $3,849,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can increased its position in shares of Red Rock Resorts by 47.5% in the 4th quarter. Bank of Montreal Can now owns 1,437 shares of the company’s stock valued at $29,000 after buying an additional 463 shares in the last quarter. Quantamental Technologies LLC bought a new stake in shares of Red Rock Resorts in the 4th quarter valued at $142,000. LPL Financial LLC bought a new stake in shares of Red Rock Resorts in the 3rd quarter valued at $213,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Red Rock Resorts in the 3rd quarter valued at $214,000. Finally, Jane Street Group LLC bought a new stake in shares of Red Rock Resorts in the 3rd quarter valued at $241,000. Institutional investors and hedge funds own 63.58% of the company’s stock.

In related news, insider Joseph J. Hasson sold 42,293 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $27.42, for a total value of $1,159,674.06. Following the completion of the sale, the insider now directly owns 58,921 shares in the company, valued at approximately $1,615,613.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph J. Hasson sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $28.83, for a total transaction of $43,245.00. Following the completion of the sale, the insider now owns 17,260 shares of the company’s stock, valued at $497,605.80. The disclosure for this sale can be found here. Insiders sold a total of 131,721 shares of company stock valued at $3,487,693 in the last 90 days. 0.40% of the stock is owned by corporate insiders.

RRR has been the subject of a number of research reports. Zacks Investment Research upgraded Red Rock Resorts from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. BidaskClub cut Red Rock Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th. Nomura increased their target price on Red Rock Resorts to $32.00 and gave the stock a “buy” rating in a report on Wednesday, February 13th. Finally, Deutsche Bank reiterated a “buy” rating and set a $30.00 target price on shares of Red Rock Resorts in a report on Wednesday, February 13th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Red Rock Resorts currently has an average rating of “Hold” and a consensus price target of $33.20.

Shares of NASDAQ RRR opened at $27.92 on Thursday. The stock has a market capitalization of $3.25 billion, a PE ratio of 21.31 and a beta of 2.14. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.79 and a quick ratio of 0.74. Red Rock Resorts Inc has a fifty-two week low of $18.78 and a fifty-two week high of $36.99.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Tuesday, February 12th. The company reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The company had revenue of $431.47 million during the quarter, compared to analysts’ expectations of $408.61 million. Red Rock Resorts had a return on equity of 12.06% and a net margin of 9.37%. Red Rock Resorts’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 EPS. As a group, sell-side analysts forecast that Red Rock Resorts Inc will post 1.2 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 14th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Wednesday, March 13th. Red Rock Resorts’s payout ratio is 30.53%.

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Red Rock Resorts Profile

Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.

Read More: How Do Mutual Funds Work?

Want to see what other hedge funds are holding RRR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Red Rock Resorts Inc (NASDAQ:RRR).

Institutional Ownership by Quarter for Red Rock Resorts (NASDAQ:RRR)

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