Westfield Capital Management Co. LP Increases Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

Westfield Capital Management Co. LP raised its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,134,509 shares of the company’s stock after buying an additional 38,443 shares during the period. Westfield Capital Management Co. LP owned about 1.07% of Red Rock Resorts worth $61,763,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Avior Wealth Management LLC increased its stake in Red Rock Resorts by 3.0% during the 3rd quarter. Avior Wealth Management LLC now owns 7,898 shares of the company’s stock worth $430,000 after buying an additional 232 shares during the period. Truist Financial Corp increased its position in shares of Red Rock Resorts by 0.9% during the second quarter. Truist Financial Corp now owns 27,545 shares of the company’s stock worth $1,513,000 after acquiring an additional 241 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of Red Rock Resorts by 3.8% in the second quarter. Sequoia Financial Advisors LLC now owns 8,042 shares of the company’s stock valued at $442,000 after acquiring an additional 292 shares in the last quarter. Arizona State Retirement System boosted its holdings in Red Rock Resorts by 3.3% in the second quarter. Arizona State Retirement System now owns 14,086 shares of the company’s stock valued at $774,000 after purchasing an additional 444 shares during the period. Finally, WCG Wealth Advisors LLC grew its stake in Red Rock Resorts by 2.5% during the 2nd quarter. WCG Wealth Advisors LLC now owns 18,325 shares of the company’s stock worth $1,007,000 after purchasing an additional 450 shares in the last quarter. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

Red Rock Resorts Stock Performance

NASDAQ RRR opened at $50.85 on Monday. The business’s 50-day moving average price is $52.76 and its 200 day moving average price is $53.64. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The firm has a market cap of $5.37 billion, a P/E ratio of 18.83, a P/E/G ratio of 6.30 and a beta of 2.04. Red Rock Resorts, Inc. has a 52-week low of $43.38 and a 52-week high of $63.28.

Red Rock Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 dividend yield of 1.97%. The ex-dividend date is Monday, December 16th. Red Rock Resorts’s payout ratio is currently 37.04%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RRR shares. Truist Financial reduced their price target 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. Barclays cut their target price on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Macquarie decreased their price target on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. JMP Securities reissued a “market outperform” rating and issued a $65.00 price objective on shares of Red Rock Resorts in a research report on Monday, October 14th. Finally, Mizuho restated an “outperform” rating and issued a $57.00 price objective (down from $67.00) on shares of Red Rock Resorts in a report on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Red Rock Resorts currently has an average rating of “Moderate Buy” and an average price target of $61.50.

Red Rock Resorts 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.