Bank of New York Mellon Corp acquired a new stake in shares of Red Rock Resorts Inc. (NASDAQ:RRR) during the second quarter, Holdings Channel reports. The firm acquired 100,300 shares of the company’s stock, valued at approximately $2,205,000. Bank of New York Mellon Corp owned approximately 0.09% of Red Rock Resorts as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB acquired a new stake in Red Rock Resorts during the second quarter worth $2,249,000. Essex Investment Management Co. LLC acquired a new stake in Red Rock Resorts during the second quarter worth $962,000. Artemis Investment Management LLP acquired a new stake in Red Rock Resorts during the second quarter worth $10,721,000. Finally, Strs Ohio acquired a new stake in Red Rock Resorts during the second quarter worth $219,000.
Red Rock Resorts Inc. (NASDAQ:RRR) traded up 1.985% on Wednesday, reaching $23.375. 146,479 shares of the company traded hands. The stock has a market capitalization of $2.71 billion and a price-to-earnings ratio of 19.826. The stock’s 50-day moving average is $22.38 and its 200-day moving average is $21.58. Red Rock Resorts Inc. has a 1-year low of $18.25 and a 1-year high of $23.87.
Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings data on Monday, August 15th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.40 by $0.39. The company had revenue of $351.50 million for the quarter, compared to analyst estimates of $350.07 million. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. Equities research analysts expect that Red Rock Resorts Inc. will post $1.21 EPS for the current year.
Several research firms have commented on RRR. Goldman Sachs Group Inc. began coverage on shares of Red Rock Resorts in a research note on Monday, September 26th. They issued a “neutral” rating and a $22.00 price objective for the company. Stifel Nicolaus reissued a “buy” rating on shares of Red Rock Resorts in a research report on Friday, September 9th. Citigroup Inc. reissued a “buy” rating and set a $25.00 target price on shares of Red Rock Resorts in a research report on Tuesday, August 16th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Red Rock Resorts in a research report on Tuesday, August 16th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $25.00 target price on shares of Red Rock Resorts in a research report on Saturday, August 13th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Red Rock Resorts presently has a consensus rating of “Buy” and a consensus price target of $24.33.
Red Rock Resorts Company Profile
Red Rock Resorts, Inc is a gaming, development and management company. The Company develops and operates casino entertainment properties. The Company owns and operates over nine gaming and entertainment facilities and over 10 smaller casinos in the Las Vegas regional market. In addition, the Company manages Graton Resort in Sonoma County, California, and Gun Lake in Allegan County, Michigan.
Want to see what other hedge funds are holding RRR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Red Rock Resorts Inc. (NASDAQ:RRR).
Receive News & Ratings for Red Rock Resorts Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Rock Resorts Inc. and related companies with MarketBeat.com's FREE daily email newsletter.