Insider Selling: Red Rock Resorts, Inc. (NASDAQ:RRR) COO Sells $2,480,668.25 in Stock

Red Rock Resorts, Inc. (NASDAQ:RRR) COO Kord Nichols sold 42,325 shares of Red Rock Resorts stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $58.61, for a total transaction of $2,480,668.25. Following the completion of the sale, the chief operating officer owned 129,361 shares in the company, valued at approximately $7,581,848.21. This trade represents a 24.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Kord Nichols also recently made the following trade(s):

• On Wednesday, August 13th, Kord Nichols sold 5,250 shares of Red Rock Resorts stock. The shares were sold at an average price of $61.00, for a total transaction of $320,250.00.

Red Rock Resorts Stock Performance

Shares of Red Rock Resorts stock opened at $59.04 on Friday. The stock has a market cap of $6.26 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 2.45 and a beta of 1.66. The firm’s 50-day moving average is $54.55 and its 200 day moving average is $48.86. Red Rock Resorts, Inc. has a 1 year low of $35.09 and a 1 year high of $62.00. The company has a debt-to-equity ratio of 11.28, a current ratio of 0.89 and a quick ratio of 0.84.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.55. The company had revenue of $526.27 million for the quarter, compared to analysts’ expectations of $485.44 million. Red Rock Resorts had a net margin of 8.89% and a return on equity of 59.97%. Red Rock Resorts’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 EPS. Sell-side analysts anticipate that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $0.25 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.7%. Red Rock Resorts’s payout ratio is presently 34.01%.

Hedge Funds Weigh In On Red Rock Resorts

A number of hedge funds have recently bought and sold shares of RRR. Tower Research Capital LLC TRC raised its position in Red Rock Resorts by 467.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,319 shares of the company’s stock worth $433,000 after buying an additional 6,852 shares during the last quarter. Two Sigma Securities LLC purchased a new position in Red Rock Resorts in the 2nd quarter worth about $1,022,000. Tidal Investments LLC raised its position in Red Rock Resorts by 43.6% in the 2nd quarter. Tidal Investments LLC now owns 8,430 shares of the company’s stock worth $439,000 after buying an additional 2,559 shares during the last quarter. Holocene Advisors LP raised its position in Red Rock Resorts by 4.1% in the 2nd quarter. Holocene Advisors LP now owns 83,097 shares of the company’s stock worth $4,324,000 after buying an additional 3,289 shares during the last quarter. Finally, Hudson Bay Capital Management LP purchased a new position in Red Rock Resorts in the 2nd quarter worth about $7,359,000. Institutional investors own 47.84% of the company’s stock.

Analysts Set New Price Targets

RRR has been the topic of several recent analyst reports. Citigroup reiterated an “outperform” rating on shares of Red Rock Resorts in a report on Friday, July 18th. JPMorgan Chase & Co. started coverage on shares of Red Rock Resorts in a report on Monday, June 23rd. They set an “overweight” rating and a $62.00 target price on the stock. Barclays boosted their target price on shares of Red Rock Resorts from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Macquarie restated an “outperform” rating and set a $58.00 target price on shares of Red Rock Resorts in a report on Friday, May 2nd. Finally, Morgan Stanley boosted their target price on shares of Red Rock Resorts from $49.00 to $53.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.73.

About Red Rock Resorts

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.