Red Rock Resorts, Inc. (NASDAQ:RRR) Shares Bought by ClearAlpha Technologies LP

ClearAlpha Technologies LP raised its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR) by 24.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,333 shares of the company’s stock after purchasing an additional 1,443 shares during the period. ClearAlpha Technologies LP’s holdings in Red Rock Resorts were worth $399,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Long Pond Capital LP acquired a new stake in Red Rock Resorts in the 2nd quarter valued at $21,987,000. Eminence Capital LP grew its position 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 valued at $107,265,000 after purchasing an additional 374,128 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Red Rock Resorts by 4,050.3% in the third quarter. Sequoia Financial Advisors LLC now owns 333,769 shares of the company’s stock valued at $18,170,000 after purchasing an additional 325,727 shares during the period. Hantz Financial Services Inc. purchased a new stake in shares of Red Rock Resorts during the second quarter worth about $14,384,000. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of Red Rock Resorts by 26.7% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company’s stock worth $65,706,000 after purchasing an additional 251,855 shares during the last quarter. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

Red Rock Resorts Stock Performance

NASDAQ:RRR opened at $50.09 on Monday. The company’s 50-day moving average is $52.39 and its two-hundred day moving average is $53.60. Red Rock Resorts, Inc. has a 1-year low of $43.38 and a 1-year high of $63.28. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. The firm has a market capitalization of $5.29 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 6.21 and a beta of 2.04.

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 issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Monday, December 16th. Red Rock Resorts’s dividend payout ratio is presently 37.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on RRR shares. Morgan Stanley lifted their price objective on Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 4th. Wells Fargo & Company dropped their price target on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Barclays decreased their price objective on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Truist Financial dropped their target price on shares of Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. Finally, Mizuho downgraded shares of Red Rock Resorts from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $57.00 to $44.00 in a research note on Monday, November 25th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.