Cibc World Market Inc. Acquires Shares of 36,034 Red Rock Resorts, Inc. $RRR

Cibc World Market Inc. acquired a new stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR – Free Report) during the fourth quarter, Holdings Channel reports. The firm acquired 36,034 shares of the company’s stock, valued at approximately $2,232,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Salomon & Ludwin LLC acquired a new position in shares of Red Rock Resorts in the 4th quarter worth approximately $25,000. GAMMA Investing LLC boosted its holdings in shares of Red Rock Resorts by 53.8% in the 4th quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock worth $47,000 after acquiring an additional 263 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Red Rock Resorts by 98.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,474 shares of the company’s stock worth $91,000 after acquiring an additional 733 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Red Rock Resorts in the 2nd quarter worth approximately $94,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Red Rock Resorts by 1,385.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,872 shares of the company’s stock worth $97,000 after acquiring an additional 1,746 shares in the last quarter. 47.84% of the stock is owned by institutional investors and hedge funds.

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Red Rock Resorts Stock Performance

RRR stock opened at $59.77 on Wednesday. The company has a debt-to-equity ratio of 14.42, a current ratio of 0.81 and a quick ratio of 0.76. The company has a 50 day moving average price of $55.26 and a 200 day moving average price of $58.87. Red Rock Resorts, Inc. has a fifty-two week low of $47.56 and a fifty-two week high of $68.99. The stock has a market capitalization of $6.28 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 4.40 and a beta of 1.36.

Red Rock Resorts (NASDAQ:RRR – Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.17). Red Rock Resorts had a return on equity of 61.67% and a net margin of 9.21%.The company had revenue of $507.32 million during the quarter, compared to the consensus estimate of $505.63 million. During the same quarter last year, the firm earned $0.75 EPS. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Analysts forecast that Red Rock Resorts, Inc. will post 1.53 EPS for the current year.

Red Rock Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, June 15th. Red Rock Resorts’s payout ratio is 33.44%.

Analysts Set New Price Targets

RRR has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $72.00 target price on shares of Red Rock Resorts in a report on Thursday, April 30th. JPMorgan Chase & Co. reduced their target price on Red Rock Resorts from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Truist Financial reduced their target price on Red Rock Resorts from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Susquehanna reduced their target price on Red Rock Resorts from $77.00 to $70.00 and set a “positive” rating on the stock in a report on Thursday, April 30th. Finally, Morgan Stanley set a $59.00 target price on Red Rock Resorts in a report on Wednesday, May 6th. Twelve equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Red Rock Resorts has a consensus rating of “Moderate Buy” and a consensus price target of $67.53.

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Red Rock Resorts Company Profile

(Free Report)

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.

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