Edgestream Partners L.P. Decreases Stock Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

Edgestream Partners L.P. lessened its stake in Red Rock Resorts, Inc. (NASDAQ:RRR) by 39.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,154 shares of the company’s stock after selling 14,448 shares during the quarter. Edgestream Partners L.P.’s holdings in Red Rock Resorts were worth $1,206,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Eminence Capital LP boosted its holdings in Red Rock Resorts by 23.7% in the 2nd quarter. Eminence Capital LP now owns 1,952,754 shares of the company’s stock worth $107,265,000 after acquiring an additional 374,128 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in shares of Red Rock Resorts by 26.7% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company’s stock valued at $65,706,000 after purchasing an additional 251,855 shares in the last quarter. Westfield Capital Management Co. LP raised its position in shares of Red Rock Resorts by 3.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,134,509 shares of the company’s stock valued at $61,763,000 after purchasing an additional 38,443 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Red Rock Resorts by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 577,108 shares of the company’s stock valued at $31,418,000 after purchasing an additional 4,810 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Red Rock Resorts by 6.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 404,153 shares of the company’s stock valued at $22,200,000 after purchasing an additional 24,992 shares in the last quarter. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Price Performance

Shares of NASDAQ RRR opened at $49.89 on Thursday. Red Rock Resorts, Inc. has a 1-year low of $43.38 and a 1-year 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 business’s fifty day moving average price is $52.28 and its two-hundred day moving average price is $53.61. The firm has a market capitalization of $5.27 billion, a PE ratio of 18.48, a P/E/G ratio of 7.00 and a beta of 2.00.

Red Rock Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Monday, December 16th. Red Rock Resorts’s dividend payout ratio is presently 37.04%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wells Fargo & Company cut 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. JMP Securities reaffirmed a “market outperform” rating and issued a $65.00 target price on shares of Red Rock Resorts in a research report on Monday, October 14th. Barclays cut 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. Macquarie dropped their price target 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. Finally, Mizuho lowered Red Rock Resorts from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $57.00 to $44.00 in a research report on Monday, November 25th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Red Rock Resorts presently has an average rating of “Moderate Buy” and a consensus target price of $60.42.

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.