MQS Management LLC Invests $392,000 in Red Rock Resorts, Inc. (NASDAQ:RRR)

MQS Management LLC purchased a new stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,199 shares of the company’s stock, valued at approximately $392,000.

Other hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of Red Rock Resorts in the 1st quarter valued at about $236,000. Headlands Technologies LLC purchased a new stake in Red Rock Resorts in the 1st quarter worth approximately $78,000. ProShare Advisors LLC boosted its stake in shares of Red Rock Resorts by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 8,559 shares of the company’s stock valued at $512,000 after buying an additional 674 shares during the period. HBK Sorce Advisory LLC purchased a new position in shares of Red Rock Resorts during the 1st quarter valued at $434,000. Finally, Vanguard Group Inc. grew its holdings in shares of Red Rock Resorts by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 5,136,942 shares of the company’s stock valued at $307,292,000 after acquiring an additional 209,593 shares in the last quarter. 47.84% of the stock is owned by hedge funds and other institutional investors.

Red Rock Resorts Stock Down 2.2 %

RRR stock opened at $51.28 on Thursday. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of 18.99, a price-to-earnings-growth ratio of 6.52 and a beta of 2.04. The company has a 50-day moving average of $53.38 and a two-hundred day moving average of $53.81. Red Rock Resorts, Inc. has a 52-week low of $42.80 and a 52-week 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 0.89.

Red Rock Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Monday, December 16th. Red Rock Resorts’s dividend payout ratio (DPR) is currently 37.04%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Mizuho reissued an “outperform” rating and set a $57.00 price objective (down previously from $67.00) on shares of Red Rock Resorts in a research report on Tuesday. Stifel Nicolaus boosted their price target on Red Rock Resorts from $59.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. lifted their target price on shares of Red Rock Resorts from $62.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Macquarie dropped their price target on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Finally, Susquehanna lifted their price objective on shares of Red Rock Resorts from $63.00 to $70.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Red Rock Resorts has a consensus rating of “Moderate Buy” and a consensus price target of $61.50.

About Red Rock Resorts

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.