Insider Buying: Red Rock Resorts, Inc. (NASDAQ:RRR) VP Acquires $1,642,410.00 in Stock

Red Rock Resorts, Inc. (NASDAQ:RRR) VP Lorenzo J. Fertitta acquired 33,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average cost of $49.77 per share, for a total transaction of $1,642,410.00. Following the completion of the transaction, the vice president now directly owns 47,546,301 shares in the company, valued at approximately $2,366,379,400.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Red Rock Resorts Price Performance

NASDAQ:RRR opened at $54.91 on Friday. The stock has a market capitalization of $5.80 billion, a PE ratio of 19.07, a P/E/G ratio of 5.21 and a beta of 2.04. The firm has a fifty day simple moving average of $54.65 and a 200 day simple moving average of $55.51. Red Rock Resorts, Inc. has a 1-year low of $37.82 and a 1-year high of $63.28. The company has a current ratio of 0.90, a quick ratio of 0.85 and a debt-to-equity ratio of 18.49.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.16. The company had revenue of $486.40 million during the quarter, compared to the consensus estimate of $475.80 million. Red Rock Resorts had a return on equity of 87.05% and a net margin of 9.21%. The firm’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.65 EPS. On average, research analysts expect that Red Rock Resorts, Inc. will post 1.66 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.82%. The ex-dividend date is Monday, September 16th. Red Rock Resorts’s dividend payout ratio is presently 34.72%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Valeo Financial Advisors LLC acquired a new stake in Red Rock Resorts in the 4th quarter valued at $255,000. VELA Investment Management LLC purchased a new stake in shares of Red Rock Resorts during the fourth quarter worth approximately $256,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Red Rock Resorts by 7.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,071 shares of the company’s stock worth $644,000 after acquiring an additional 870 shares in the last quarter. Avior Wealth Management LLC grew its holdings in Red Rock Resorts by 4.3% in the fourth quarter. Avior Wealth Management LLC now owns 9,941 shares of the company’s stock valued at $530,000 after purchasing an additional 408 shares during the last quarter. Finally, Institute for Wealth Management LLC. boosted its stake in shares of Red Rock Resorts by 4.2% during the fourth quarter. Institute for Wealth Management LLC. now owns 7,557 shares of the company’s stock valued at $403,000 after acquiring an additional 308 shares during the last quarter. 47.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on RRR shares. Susquehanna upped their price target on Red Rock Resorts from $63.00 to $70.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. Macquarie lifted their price objective on shares of Red Rock Resorts from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. JMP Securities cut their price objective on shares of Red Rock Resorts from $66.00 to $65.00 and set a “market outperform” rating for the company in a research report on Wednesday, May 8th. Stifel Nicolaus increased their target price on shares of Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley raised their target price on shares of Red Rock Resorts from $53.00 to $54.00 and gave the stock an “equal weight” rating in a report on Friday, July 12th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Red Rock Resorts currently has an average rating of “Moderate Buy” and an average price target of $63.33.

Red Rock Resorts Company 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.