Institute for Wealth Management LLC. Lowers Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

Institute for Wealth Management LLC. trimmed its position in Red Rock Resorts, Inc. (NASDAQ:RRR) by 41.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,859 shares of the company’s stock after selling 4,820 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Red Rock Resorts were worth $317,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in RRR. Quarry LP raised its position in shares of Red Rock Resorts by 479.4% in the 3rd quarter. Quarry LP now owns 1,124 shares of the company’s stock worth $61,000 after acquiring an additional 930 shares in the last quarter. US Bancorp DE raised its position 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 worth $85,000 after acquiring an additional 1,490 shares in the last quarter. KBC Group NV raised its position in shares of Red Rock Resorts by 37.1% in the 4th quarter. KBC Group NV now owns 1,996 shares of the company’s stock worth $92,000 after acquiring an additional 540 shares in the last quarter. nVerses Capital LLC raised its position in shares of Red Rock Resorts by 28.6% in the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock worth $196,000 after acquiring an additional 800 shares in the last quarter. Finally, Mayfair Advisory Group LLC raised its position in shares of Red Rock Resorts by 15.1% in the 4th quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock worth $208,000 after acquiring an additional 591 shares in the last quarter. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

Red Rock Resorts Stock Down 0.9 %

Shares of RRR stock opened at $49.05 on Friday. The stock’s 50-day simple moving average is $47.42 and its 200-day simple moving average is $51.92. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02. The firm has a market capitalization of $5.18 billion, a PE ratio of 18.17, a P/E/G ratio of 5.16 and a beta of 2.01. Red Rock Resorts, Inc. has a fifty-two week low of $42.46 and a fifty-two week high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Thursday, November 7th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.11. Red Rock Resorts had a return on equity of 73.20% and a net margin of 8.59%. The firm had revenue of $468.02 million for the quarter, compared to the consensus estimate of $460.73 million. During the same quarter in the prior year, the business earned $0.60 earnings per share. Equities analysts expect that Red Rock Resorts, Inc. will post 1.44 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.04%. Red Rock Resorts’s payout ratio is 37.04%.

Analyst Ratings Changes

Several research analysts recently issued reports on RRR shares. Mizuho lowered Red Rock Resorts from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $57.00 to $44.00 in a research report on Monday, November 25th. Macquarie reduced their target price on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Wells Fargo & Company reduced their target price on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. Truist Financial reduced their target price on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th. Finally, Barclays reduced their target price on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $58.08.

Red Rock Resorts 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.