Nicholas Investment Partners LP Increases Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

Nicholas Investment Partners LP boosted its holdings in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 66.2% during the second quarter, Holdings Channel reports. The firm owned 267,696 shares of the company’s stock after acquiring an additional 106,660 shares during the quarter. Nicholas Investment Partners LP’s holdings in Red Rock Resorts were worth $11,377,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. US Bancorp DE grew its holdings in shares of Red Rock Resorts by 235.6% during the 2nd quarter. US Bancorp DE now owns 641 shares of the company’s stock worth $27,000 after acquiring an additional 450 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in shares of Red Rock Resorts during the 1st quarter worth approximately $54,000. Maverick Capital Ltd. purchased a new position in shares of Red Rock Resorts during the 1st quarter worth approximately $58,000. IFP Advisors Inc purchased a new position in shares of Red Rock Resorts during the 1st quarter worth approximately $73,000. Finally, The PNC Financial Services Group Inc. grew its holdings in shares of Red Rock Resorts by 32.2% during the 1st quarter. The PNC Financial Services Group Inc. now owns 2,218 shares of the company’s stock worth $73,000 after acquiring an additional 540 shares during the period. Institutional investors own 54.74% of the company’s stock.

RRR has been the topic of a number of research analyst reports. Wells Fargo & Company initiated coverage on Red Rock Resorts in a report on Tuesday. They set an “overweight” rating and a $62.00 target price on the stock. Truist Securities boosted their price target on Red Rock Resorts from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, July 29th. Truist boosted their price target on Red Rock Resorts from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, July 29th. Deutsche Bank Aktiengesellschaft boosted their price target on Red Rock Resorts from $46.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, July 29th. Finally, KeyCorp boosted their price target on Red Rock Resorts from $42.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, May 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $41.50.

RRR stock traded up $0.86 during midday trading on Thursday, hitting $46.56. The company’s stock had a trading volume of 8,555 shares, compared to its average volume of 804,639. The company has a market cap of $5.42 billion, a PE ratio of 39.74 and a beta of 2.57. Red Rock Resorts, Inc. has a 12 month low of $15.81 and a 12 month high of $49.82. The company has a current ratio of 4.03, a quick ratio of 3.97 and a debt-to-equity ratio of 4.61. The firm’s 50-day moving average is $42.53 and its 200-day moving average is $39.62.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Wednesday, July 28th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.80. The business had revenue of $428.16 million for the quarter, compared to analysts’ expectations of $370.83 million. Red Rock Resorts had a return on equity of 41.53% and a net margin of 6.45%. Analysts expect that Red Rock Resorts, Inc. will post 2.99 earnings per share for the current year.

About Red Rock Resorts

Red Rock Resorts, Inc is a holding company, which engages in the management and development of gaming and entertainment facilities. The firm operates through the following segments: Las Vegas Operations and Native American Management. Its amenities include restaurants, entertainment venues, movie theatres, bowling and convention or banquet space, as well as traditional casino gaming offerings such as video poker, slot machines, table games, bingo and race and sports wagering.

Recommended Story: Cost of Capital Explained

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.