Sequoia Financial Advisors LLC Increases Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

Sequoia Financial Advisors LLC increased its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 4,050.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 333,769 shares of the company’s stock after buying an additional 325,727 shares during the period. Sequoia Financial Advisors LLC owned about 0.32% of Red Rock Resorts worth $18,170,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in RRR. Long Pond Capital LP acquired a new position in shares of Red Rock Resorts during the 2nd quarter worth approximately $21,987,000. Eminence Capital LP raised its holdings in shares of Red Rock Resorts by 23.7% in the second quarter. Eminence Capital LP now owns 1,952,754 shares of the company’s stock worth $107,265,000 after acquiring an additional 374,128 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in shares of Red Rock Resorts in the second quarter valued at $14,384,000. Vaughan Nelson Investment Management L.P. lifted its position in shares of Red Rock Resorts by 26.7% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company’s stock valued at $65,706,000 after acquiring an additional 251,855 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Red Rock Resorts by 4.3% during the first quarter. Vanguard Group Inc. now owns 5,136,942 shares of the company’s stock valued at $307,292,000 after acquiring an additional 209,593 shares during the last quarter. 47.84% of the stock is owned by hedge funds and other institutional investors.

Red Rock Resorts Stock Down 1.0 %

Shares of NASDAQ:RRR traded down $0.52 during trading on Tuesday, hitting $51.56. The company’s stock had a trading volume of 156,345 shares, compared to its average volume of 460,023. The company has a debt-to-equity ratio of 15.15, a quick ratio of 0.89 and a current ratio of 0.94. Red Rock Resorts, Inc. has a fifty-two week low of $37.82 and a fifty-two week high of $63.28. The stock’s 50-day moving average price is $54.58 and its two-hundred day moving average price is $54.57. The company has a market capitalization of $5.45 billion, a PE ratio of 18.27, a PEG ratio of 5.43 and a beta of 2.04.

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

Insider Buying and Selling at Red Rock Resorts

In other news, COO Kord Nichols sold 49,464 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $58.00, for a total value of $2,868,912.00. Following the completion of the sale, the chief operating officer now owns 71,946 shares in the company, valued at $4,172,868. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, COO Kord Nichols sold 49,464 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $58.00, for a total transaction of $2,868,912.00. Following the transaction, the chief operating officer now owns 71,946 shares of the company’s stock, valued at approximately $4,172,868. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Lorenzo J. Fertitta purchased 33,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $49.77 per share, with a total value of $1,642,410.00. Following the completion of the acquisition, the vice president now directly owns 47,546,301 shares of the company’s stock, valued at approximately $2,366,379,400.77. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 200,000 shares of company stock valued at $10,426,000. 53.28% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on RRR shares. Wells Fargo & Company reduced their target price on shares of Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Susquehanna upped their price objective on shares of Red Rock Resorts from $63.00 to $70.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. JMP Securities restated a “market outperform” rating and set a $65.00 target price on shares of Red Rock Resorts in a research report on Monday, October 14th. Barclays boosted their price target on Red Rock Resorts from $63.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Macquarie raised their price objective on Red Rock Resorts from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $63.00.

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.