Hudson Bay Capital Management LP Invests $2.50 Million in Red Rock Resorts, Inc. (NASDAQ:RRR)


Share on StockTwits

Hudson Bay Capital Management LP acquired a new position in Red Rock Resorts, Inc. (NASDAQ:RRR) in the 4th quarter, HoldingsChannel reports. The fund acquired 100,000 shares of the company’s stock, valued at approximately $2,504,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dimension Capital Management LLC bought a new stake in Red Rock Resorts during the 3rd quarter valued at $31,000. Acadian Asset Management LLC bought a new position in shares of Red Rock Resorts in the third quarter worth $34,000. Capstone Triton Financial Group LLC purchased a new position in shares of Red Rock Resorts in the fourth quarter valued at $60,000. Neo Ivy Capital Management bought a new stake in shares of Red Rock Resorts during the 3rd quarter valued at $61,000. Finally, SG Americas Securities LLC purchased a new stake in Red Rock Resorts during the 4th quarter worth about $119,000. 52.40% of the stock is currently owned by institutional investors and hedge funds.

RRR has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Red Rock Resorts from a “hold” rating to a “sell” rating and set a $31.00 target price for the company. in a report on Wednesday, February 17th. The Goldman Sachs Group upped their target price on shares of Red Rock Resorts from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, January 26th. Macquarie increased their target price on shares of Red Rock Resorts from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 10th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Red Rock Resorts from $24.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, December 9th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. lifted their price objective on Red Rock Resorts from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, February 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. Red Rock Resorts currently has a consensus rating of “Buy” and an average target price of $24.15.

RRR opened at $34.52 on Thursday. The business’s fifty day simple moving average is $32.32 and its 200 day simple moving average is $24.87. Red Rock Resorts, Inc. has a 52 week low of $7.51 and a 52 week high of $35.94. The company has a quick ratio of 1.08, a current ratio of 1.14 and a debt-to-equity ratio of 5.40. The stock has a market cap of $4.05 billion, a PE ratio of -13.38 and a beta of 2.55.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results on Monday, February 8th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.15. The firm had revenue of $343.41 million during the quarter, compared to analyst estimates of $342.17 million. Red Rock Resorts had a negative return on equity of 2.52% and a negative net margin of 13.48%. The company’s revenue was down 25.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 earnings per share. As a group, equities analysts anticipate that Red Rock Resorts, Inc. will post -0.03 earnings per share for the current year.

About Red Rock Resorts

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.

See Also: What is the Federal Reserve?

Want to see what other hedge funds are holding RRR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Red Rock Resorts, Inc. (NASDAQ:RRR).

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

Receive News & Ratings for Red Rock Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Rock Resorts and related companies with MarketBeat.com's FREE daily email newsletter.