Cipher Capital LP Raises Holdings in Red Rock Resorts Inc (NASDAQ:RRR)

Cipher Capital LP increased its holdings in shares of Red Rock Resorts Inc (NASDAQ:RRR) by 169.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 205,665 shares of the company’s stock after purchasing an additional 129,420 shares during the period. Cipher Capital LP owned approximately 0.18% of Red Rock Resorts worth $4,763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Ameritas Investment Partners Inc. raised its stake in shares of Red Rock Resorts by 154.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,966 shares of the company’s stock valued at $140,000 after acquiring an additional 3,623 shares during the period. Advisor Group Inc. raised its stake in shares of Red Rock Resorts by 7,476.6% in the 2nd quarter. Advisor Group Inc. now owns 8,107 shares of the company’s stock valued at $191,000 after acquiring an additional 8,000 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Red Rock Resorts by 123.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,521 shares of the company’s stock valued at $201,000 after acquiring an additional 4,705 shares during the period. UBS Group AG raised its stake in shares of Red Rock Resorts by 340.6% in the 1st quarter. UBS Group AG now owns 8,698 shares of the company’s stock valued at $193,000 after acquiring an additional 6,724 shares during the period. Finally, Amalgamated Bank purchased a new stake in shares of Red Rock Resorts in the 2nd quarter valued at approximately $208,000. 64.35% of the stock is owned by hedge funds and other institutional investors.

Shares of Red Rock Resorts Inc (RRR) traded up $0.26 on Friday, hitting $31.11. 820,673 shares of the stock were exchanged, compared to its average volume of 706,245. Red Rock Resorts Inc has a 1-year low of $20.87 and a 1-year high of $31.20. The stock has a market cap of $3,613.18, a P/E ratio of 22.06, a PEG ratio of 18.22 and a beta of 1.54. The company has a debt-to-equity ratio of 4.41, a current ratio of 1.29 and a quick ratio of 1.26.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Wednesday, November 15th were paid a dividend of $0.10 per share. The ex-dividend date was Tuesday, November 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.29%. Red Rock Resorts’s dividend payout ratio is currently 90.91%.

Several equities research analysts recently weighed in on the stock. Deutsche Bank reaffirmed a “buy” rating and set a $35.00 target price on shares of Red Rock Resorts in a research note on Tuesday, November 28th. J P Morgan Chase & Co reissued a “buy” rating and issued a $33.00 price objective on shares of Red Rock Resorts in a research report on Tuesday, November 28th. Union Gaming Research cut shares of Red Rock Resorts from a “buy” rating to a “hold” rating and lowered their target price for the company from $28.00 to $27.00 in a report on Thursday, November 9th. Bank of America upped their target price on shares of Red Rock Resorts from $26.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Finally, Zacks Investment Research upgraded shares of Red Rock Resorts from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $28.50.

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Red Rock Resorts Company Profile

Red Rock Resorts, Inc is a gaming, development and management company. The Company’s segments include Las Vegas operations, Native American management, and Corporate and other. The Las Vegas operations segment includes all of its Las Vegas area casino properties and the Native American management segment includes its Native American management arrangements.

Institutional Ownership by Quarter for Red Rock Resorts (NASDAQ:RRR)

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