Insider Sale: Red Rock Resorts, Inc. (NASDAQ: RRR) COO Sells 22,663 Shares

Red Rock Resorts, Inc. (NASDAQ:RRR – Get Rating) COO Robert A. Finch sold 22,663 shares of the company in a trade dated Thursday, September 15. The stock was sold at an average price of $39.41, for a total transaction of $893,148.83. Following the transaction, the COO now directly owns 111,214 shares of the company, valued at $4,382,943.74. The transaction was disclosed in a document filed with the SEC, which can be accessed on the SEC’s website.

Red Rock Resort Price Performance

NASDAQ:RRR traded down $0.23 during Friday’s midday session, hitting $38.64. 1,159,841 shares of the company were traded, with an average volume of 650,467. Red Rock Resorts, Inc. has a 12-month low of $30.98 and a 12-month high of $58.74. The company has a fifty-day moving average of $38.65 and a 200-day moving average of $40.34. The company has a quick ratio of 1.58, a current ratio of 1.63 and a debt ratio of 29.17. The stock has a market capitalization of $4.15 billion, a PE ratio of 11.92 and a beta of 2.25.

Red Rock Resorts (NASDAQ: RRR – Get Rating) last released quarterly earnings data on Tuesday, August 9. The company reported EPS of $0.26 for the quarter, missing analyst consensus estimates of $0.68 per ($0.42). Red Rock Resorts had a return on equity of 146.71% and a net margin of 17.10%. The company posted revenue of $422.20 million for the quarter, versus a consensus estimate of $404.39 million. During the same period of the previous year, the company achieved EPS of $1.12. The company’s revenue fell 1.4% compared to the same quarter last year. On average, research analysts expect Red Rock Resorts, Inc. to post an EPS of 1.73 for the current fiscal year.

Red Rock Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30. Shareholders of record on Thursday, September 15 will receive a dividend of $0.25 per share. This represents a dividend of $1.00 on an annualized basis and a yield of 2.59%. The ex-dividend date is Wednesday, September 14. Red Rock Resorts’ dividend payout ratio is currently 30.67%.

Institutional investors weigh in on Red Rock Resorts

Hedge funds have recently increased or reduced their holdings in the stock. WCG Wealth Advisors LLC acquired a new position in Red Rock Resorts during Q2 valued at approximately $1,394,000. ExodusPoint Capital Management LP increased its position in Red Rock Resorts by 338.6% during the 2nd quarter. ExodusPoint Capital Management LP now owns 65,322 shares of the company valued at $2,179,000 after purchasing an additional 50,429 shares during the period. Goldman Sachs Group Inc. increased its position in Red Rock Resorts by 29.9% during the second quarter. Goldman Sachs Group Inc. now owns 1,361,285 shares of the company valued at $45,412,000 after purchasing an additional 313,446 shares during the period. Price T Rowe Associates Inc. MD increased its position in Red Rock Resorts by 2.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,493,068 shares of the company valued at $49,809,000 after purchasing an additional 28,665 shares during the period. Finally, Creative Planning increased its position in Red Rock Resorts by 5.3% in the 2nd quarter. Creative Planning now owns 6,048 shares of the company valued at $202,000 after purchasing an additional 305 shares during the period. Institutional investors hold 52.30% of the company’s shares.

Wall Street analysts predict growth

A number of stock analysts have recently commented on RRR shares. Loop Capital began covering shares of Red Rock Resorts in a Monday, July 11, report. They set a “hold” rating and a price target of $36.00 for the company. Jefferies Financial Group began covering shares of Red Rock Resorts in a Wednesday, September 7 report. They set a “buy” rating and a price target of $50.00 for the company. Deutsche Bank Aktiengesellschaft raised its price target on shares of Red Rock Resorts from $45.00 to $50.00 and gave the stock a “buy” rating in a Wednesday, August 10, report. KeyCorp set a price target of $45.00 on shares of Red Rock Resorts in a Tuesday, July 19 report. Finally, Wells Fargo & Company cut its price target on Red Rock Resorts stock from $56.00 to $48.00 and set an “overweight” rating for the company in a Thursday, July 14, report. One equity research analyst gave the stock a sell rating, three issued a hold rating and six gave the company a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.67.

About Red Rock Resorts

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Red Rock Resorts, Inc, through its interests in Station Holdco and Station LLC, develops and operates casino and entertainment properties in the United States. It operates through two segments, Las Vegas Operations and Native American Management. The Company owns and operates 9 gaming and entertainment facilities and 10 small casinos in the Las Vegas regional market.

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