Sequoia Financial Advisors LLC Purchases 325,727 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Sequoia Financial Advisors LLC boosted its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 4,050.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 333,769 shares of the company’s stock after purchasing an additional 325,727 shares during the period. Sequoia Financial Advisors LLC’s holdings in Red Rock Resorts were worth $18,170,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. increased its position in Red Rock Resorts by 24.9% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 944,340 shares of the company’s stock valued at $56,491,000 after acquiring an additional 188,095 shares in the last quarter. BNP Paribas Financial Markets increased its position in Red Rock Resorts by 35.5% in the 1st quarter. BNP Paribas Financial Markets now owns 32,080 shares of the company’s stock valued at $1,919,000 after acquiring an additional 8,402 shares in the last quarter. FORA Capital LLC increased its position in Red Rock Resorts by 16.1% in the 1st quarter. FORA Capital LLC now owns 10,784 shares of the company’s stock valued at $645,000 after acquiring an additional 1,492 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Red Rock Resorts in the 1st quarter valued at about $236,000. Finally, Lisanti Capital Growth LLC acquired a new stake in Red Rock Resorts in the 1st quarter valued at about $2,260,000. 47.84% of the stock is owned by institutional investors.

Insider Buying and Selling at Red Rock Resorts

In other news, COO Kord Nichols sold 49,464 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $58.00, for a total value of $2,868,912.00. Following the sale, the chief operating officer now owns 71,946 shares of the company’s stock, valued at $4,172,868. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, COO Kord Nichols sold 49,464 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $58.00, for a total value of $2,868,912.00. Following the sale, the chief operating officer now owns 71,946 shares of the company’s stock, valued at $4,172,868. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Lorenzo J. Fertitta acquired 33,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was acquired at an average cost of $54.49 per share, for a total transaction of $1,798,170.00. Following the transaction, the vice president now owns 47,480,301 shares of the company’s stock, valued at $2,587,201,601.49. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 200,000 shares of company stock valued at $10,426,000. 53.28% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

RRR has been the subject of several research reports. Stifel Nicolaus raised their price objective on shares of Red Rock Resorts from $59.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Barclays lifted their price target on shares of Red Rock Resorts from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Morgan Stanley lifted their price target on shares of 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 reiterated a “market outperform” rating and set a $65.00 price target on shares of Red Rock Resorts in a research report on Monday, October 14th. Finally, Truist Financial lowered their price target on shares of Red Rock Resorts from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. Five equities research 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

Red Rock Resorts Stock Down 1.0 %

RRR traded down $0.52 during trading on Tuesday, reaching $51.56. The company had a trading volume of 156,345 shares, compared to its average volume of 460,023. The company has a debt-to-equity ratio of 15.15, a current ratio of 0.94 and a quick ratio of 0.89. Red Rock Resorts, Inc. has a 12 month low of $37.82 and a 12 month high of $63.28. The business’s fifty day moving average price is $54.58 and its 200 day moving average price is $54.57. The company has a market cap of $5.45 billion, a P/E ratio of 18.27, a PEG ratio of 5.43 and a beta of 2.04.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.16. Red Rock Resorts had a net margin of 9.21% and a return on equity of 83.84%. The firm had revenue of $486.40 million for the quarter, compared to analyst estimates of $475.80 million. During the same quarter in the previous year, the firm posted $0.65 earnings per share. The business’s revenue was up 16.9% on a year-over-year basis. Equities analysts anticipate that Red Rock Resorts, Inc. will post 1.66 EPS for the current year.

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.