Bamco Inc. NY Purchases 106,509 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Bamco Inc. NY increased its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 1.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 10,623,284 shares of the company’s stock after acquiring an additional 106,509 shares during the period. Red Rock Resorts makes up about 1.5% of Bamco Inc. NY’s portfolio, making the stock its 13th largest holding. Bamco Inc. NY owned about 0.10% of Red Rock Resorts worth $578,332,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RRR. US Bancorp DE grew its holdings in shares of Red Rock Resorts by 2,223.9% during the third quarter. US Bancorp DE now owns 1,557 shares of the company’s stock valued at $85,000 after buying an additional 1,490 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Red Rock Resorts during the second quarter worth about $98,000. nVerses Capital LLC purchased a new stake in Red Rock Resorts in the second quarter valued at approximately $154,000. Ritholtz Wealth Management acquired a new position in Red Rock Resorts in the 3rd quarter worth approximately $215,000. Finally, Mayfair Advisory Group LLC purchased a new position in Red Rock Resorts during the 3rd quarter worth approximately $218,000. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Wall Street Analysts Forecast Growth

RRR has been the topic of several recent research reports. Macquarie dropped their price objective on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Morgan Stanley increased their price target on Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 4th. JMP Securities restated a “market outperform” rating and issued a $65.00 target price on shares of Red Rock Resorts in a research note on Monday, October 14th. Barclays reduced their price target on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Finally, Truist Financial lowered their price objective on Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $60.42.

Red Rock Resorts Stock Up 0.5 %

Shares of NASDAQ RRR opened at $50.09 on Monday. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 6.21 and a beta of 2.04. The company’s 50-day simple moving average is $52.39 and its 200-day simple moving average is $53.60. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. Red Rock Resorts, Inc. has a 52-week low of $43.38 and a 52-week high of $63.28.

Red Rock Resorts Announces Dividend

The company 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 dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.00%. Red Rock Resorts’s payout ratio is currently 37.04%.

Red Rock Resorts Company Profile

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.