Fmr LLC Has $165.77 Million Stake in Red Rock Resorts, Inc. (RRR)
Fmr LLC decreased its stake in Red Rock Resorts, Inc. (NASDAQ:RRR) by 12.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,039,178 shares of the company’s stock after selling 956,000 shares during the period. Fmr LLC owned approximately 10.71% of Red Rock Resorts worth $165,773,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Wells Fargo & Company MN boosted its holdings in Red Rock Resorts by 119.7% in the first quarter. Wells Fargo & Company MN now owns 81,721 shares of the company’s stock valued at $1,813,000 after purchasing an additional 44,523 shares during the last quarter. US Bancorp DE purchased a new position in Red Rock Resorts in the first quarter valued at about $495,000. Bank of New York Mellon Corp boosted its holdings in Red Rock Resorts by 9.9% in the first quarter. Bank of New York Mellon Corp now owns 387,420 shares of the company’s stock valued at $8,593,000 after purchasing an additional 34,778 shares during the last quarter. Swiss National Bank boosted its holdings in Red Rock Resorts by 33.7% in the first quarter. Swiss National Bank now owns 68,300 shares of the company’s stock valued at $1,515,000 after purchasing an additional 17,200 shares during the last quarter. Finally, Parametric Portfolio Associates LLC purchased a new position in Red Rock Resorts in the first quarter valued at about $1,063,000. 62.52% of the stock is owned by institutional investors.
Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) opened at 23.59 on Thursday. Red Rock Resorts, Inc. has a 12 month low of $21.07 and a 12 month high of $24.67. The stock’s 50 day moving average price is $23.08 and its 200-day moving average price is $23.08. The firm has a market capitalization of $1.60 billion, a PE ratio of 60.03 and a beta of 0.70.
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RRR has been the subject of a number of analyst reports. SunTrust Banks, Inc. initiated coverage on Red Rock Resorts in a report on Thursday, September 14th. They issued a “buy” rating and a $26.00 price target for the company. Zacks Investment Research raised Red Rock Resorts from a “strong sell” rating to a “hold” rating in a report on Thursday, August 17th. Stifel Nicolaus reissued a “buy” rating and issued a $27.00 price target on shares of Red Rock Resorts in a report on Friday, July 14th. BidaskClub downgraded Red Rock Resorts from a “sell” rating to a “strong sell” rating in a report on Friday, September 15th. Finally, ValuEngine raised Red Rock Resorts from a “hold” rating to a “buy” rating in a report on Friday, September 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $26.25.
Red Rock Resorts Profile
Red Rock Resorts, Inc is a gaming, development and management company. The Company’s segments include Las Vegas operations, Native American management, and Corporate and other. The Las Vegas operations segment includes all of its Las Vegas area casino properties and the Native American management segment includes its Native American management arrangements.
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