Westfield Capital Management Co. LP Increases Stock Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

Westfield Capital Management Co. LP lifted its holdings in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 3.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,134,509 shares of the company’s stock after buying an additional 38,443 shares during the period. Westfield Capital Management Co. LP’s holdings in Red Rock Resorts were worth $61,763,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. US Bancorp DE increased its holdings in shares of Red Rock Resorts by 2,223.9% in the 3rd quarter. US Bancorp DE now owns 1,557 shares of the company’s stock valued at $85,000 after purchasing an additional 1,490 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Red Rock Resorts in the second quarter valued at about $98,000. nVerses Capital LLC purchased a new position in Red Rock Resorts in the second quarter valued at about $154,000. Ritholtz Wealth Management acquired a new stake in shares of Red Rock Resorts during the 3rd quarter valued at approximately $215,000. Finally, Mayfair Advisory Group LLC purchased a new stake in shares of Red Rock Resorts during the 3rd quarter worth approximately $218,000. 47.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on RRR shares. JMP Securities reaffirmed a “market outperform” rating and issued a $65.00 price objective on shares of Red Rock Resorts in a research note on Monday, October 14th. Macquarie cut their price target on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Morgan Stanley increased their price objective on shares of Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 4th. Wells Fargo & Company cut their target price on shares of 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. Finally, Truist Financial reduced their price target on shares of Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating on the stock in a report on Wednesday, October 23rd. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.50.

Red Rock Resorts Price Performance

Red Rock Resorts stock opened at $50.85 on Monday. The stock has a market capitalization of $5.37 billion, a P/E ratio of 18.83, a P/E/G ratio of 6.30 and a beta of 2.04. Red Rock Resorts, Inc. has a 12-month low of $43.38 and a 12-month 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’s 50-day moving average is $52.76 and its two-hundred day moving average is $53.64.

Red Rock Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.97%. Red Rock Resorts’s dividend payout ratio (DPR) is currently 37.04%.

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.