Diamond Hill Capital Management Inc. Sells 33,320 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Diamond Hill Capital Management Inc. cut its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,241,003 shares of the company’s stock after selling 33,320 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Red Rock Resorts were worth $196,104,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in RRR. Vaughan Nelson Investment Management L.P. increased its stake in shares of Red Rock Resorts by 20.6% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,344,058 shares of the company’s stock worth $62,149,000 after purchasing an additional 229,843 shares during the period. Wellington Management Group LLP increased its stake in Red Rock Resorts by 239.0% during the third quarter. Wellington Management Group LLP now owns 185,018 shares of the company’s stock valued at $10,072,000 after acquiring an additional 130,434 shares during the period. Bamco Inc. NY increased its stake in Red Rock Resorts by 1.0% during the third quarter. Bamco Inc. NY now owns 10,623,284 shares of the company’s stock valued at $578,332,000 after acquiring an additional 106,509 shares during the period. Verition Fund Management LLC increased its stake in Red Rock Resorts by 114.1% during the third quarter. Verition Fund Management LLC now owns 164,560 shares of the company’s stock valued at $8,959,000 after acquiring an additional 87,685 shares during the period. Finally, Cerity Partners LLC increased its stake in Red Rock Resorts by 637.0% during the third quarter. Cerity Partners LLC now owns 74,001 shares of the company’s stock valued at $4,029,000 after acquiring an additional 63,960 shares during the period. 47.84% of the stock is currently owned by institutional investors.

Red Rock Resorts Stock Down 3.3 %

Shares of RRR opened at $42.69 on Friday. The company has a market capitalization of $4.53 billion, a P/E ratio of 17.01, a PEG ratio of 4.32 and a beta of 2.01. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. Red Rock Resorts, Inc. has a one year low of $42.33 and a one year high of $63.28. The business’s 50 day simple moving average is $48.10 and its 200-day simple moving average is $50.60.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Tuesday, February 11th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. As a group, sell-side analysts predict that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Monday, March 17th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 39.84%.

Wall Street Analyst Weigh In

RRR has been the topic of several research reports. Stifel Nicolaus boosted their price target on Red Rock Resorts from $50.00 to $54.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Mizuho boosted their price target on Red Rock Resorts from $44.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Truist Financial lowered their price target on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. JMP Securities lowered their price target on Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 16th. Finally, Susquehanna lifted their price objective on Red Rock Resorts from $60.00 to $61.00 and gave the company a “positive” rating in a report on Wednesday, February 12th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Red Rock Resorts currently has an average rating of “Hold” and an average target price of $57.33.

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.