Franklin Street Capital Partners LLC Takes Position in Red Rock Resorts Inc (NASDAQ:RRR)

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Franklin Street Capital Partners LLC purchased a new stake in Red Rock Resorts Inc (NASDAQ:RRR) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 29,450 shares of the company’s stock, valued at approximately $705,000. Red Rock Resorts accounts for about 0.5% of Franklin Street Capital Partners LLC’s holdings, making the stock its 26th biggest holding.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Zeke Capital Advisors LLC acquired a new position in Red Rock Resorts during the third quarter worth $54,996,000. Zimmer Partners LP purchased a new position in Red Rock Resorts during the third quarter worth $16,716,000. Diamond Hill Capital Management Inc. increased its position in Red Rock Resorts by 5.8% during the third quarter. Diamond Hill Capital Management Inc. now owns 7,283,512 shares of the company’s stock worth $147,892,000 after buying an additional 399,811 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Red Rock Resorts during the third quarter worth $6,971,000. Finally, State of New Jersey Common Pension Fund D purchased a new position in Red Rock Resorts during the third quarter worth $2,089,000. 61.65% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ RRR traded down $0.66 during mid-day trading on Friday, reaching $26.45. The company had a trading volume of 4,507 shares, compared to its average volume of 603,772. Red Rock Resorts Inc has a twelve month low of $16.76 and a twelve month high of $29.80. The company has a debt-to-equity ratio of 3.85, a quick ratio of 0.90 and a current ratio of 0.96. The stock has a market capitalization of $3.15 billion, a PE ratio of -379.80 and a beta of 2.07. The stock’s 50 day moving average is $24.59 and its 200-day moving average is $22.20.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.06). Red Rock Resorts had a positive return on equity of 6.25% and a negative net margin of 0.18%. The company had revenue of $460.80 million during the quarter, compared to analyst estimates of $464.30 million. During the same period last year, the company posted $0.11 earnings per share. The company’s revenue was up 6.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Red Rock Resorts Inc will post 0.97 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Thursday, March 12th.

A number of equities research analysts have recently commented on RRR shares. Nomura increased their price objective on Red Rock Resorts from to in a research report on Wednesday, February 5th. Union Gaming Research lowered Red Rock Resorts from a “buy” rating to a “hold” rating and reduced their target price for the company from $25.00 to $22.00 in a report on Wednesday, November 6th. Bank of America lowered Red Rock Resorts from a “buy” rating to a “neutral” rating in a report on Monday, January 6th. BidaskClub upgraded Red Rock Resorts from a “buy” rating to a “strong-buy” rating in a report on Friday, February 7th. Finally, Zacks Investment Research lowered Red Rock Resorts from a “hold” rating to a “sell” rating and set a $25.00 target price for the company. in a report on Monday, January 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $27.11.

Red Rock Resorts Profile

Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.

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

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