Rhumbline Advisers Reduce Stake in Red Rock Resorts,
December 18, 2023
🌥️Trending News
Red Rock Resorts ($NASDAQ:RRR), Inc. recently experienced a reduction in its share ownership by Rhumbline Advisers. Rhumbline Advisers is an investment firm that specializes in stocks, bonds, mutual funds, and other securities, and its decision to sell shares of Red Rock Resorts, Inc. has sent shockwaves throughout the markets. It operates and owns multiple gaming venues across the country, including Las Vegas-based casinos such as the Hard Rock Hotel & Casino, the Palms Casino Resort, and the Silverton Casino Hotel. The company also owns several regional properties, including the Colorado Belle Hotel & Casino in Laughlin, Nevada.
The news of a major investor reducing its stake in Red Rock Resorts, Inc. has raised questions about the company’s near-term prospects. While the stock is down since Rhumbline Advisers’ announcement, investors are hopeful that this will only be a short-term impact and that Red Rock Resorts, Inc. can continue to grow and be successful in the long run.
Market Price
On Friday, shares of Red Rock Resorts, Inc. (RRR) opened at $44.6 and closed at $46.2, up by 3.8% from its prior closing price of $44.5. The stock’s gains came despite the news that Rhumbline Advisers had recently reduced its stake in the company. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for RRR. More…
| Total Revenues | Net Income | Net Margin |
| 1.69k | 211.46 | 11.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for RRR. More…
| Operations | Investing | Financing |
| 460.17 | -592.81 | 154.38 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for RRR. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.86k | 3.7k | 2.11 |
Key Ratios Snapshot
Some of the financial key ratios for RRR are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.1% | 74.3% | 36.2% |
| FCF Margin | ROE | ROA |
| -14.4% | 342.2% | 9.9% |
Analysis
This company may be of interest to investors who are looking for a moderate but sustainable return from their investments. While the health score concerning RED ROCK RESORTS’ cashflows and debt is only 6/10, it indicates that the company may be able to sustain future operations in times of crisis. Furthermore, RED ROCK RESORTS is strong in dividend and profitability, while being medium in growth and weak in asset. More…
Peers
The company’s main competitors are Boyd Gaming Corp, Golden Entertainment Inc, and Bloomberry Resorts Corp.
– Boyd Gaming Corp ($NYSE:BYD)
Boyd Gaming Corporation is a leading diversified owner and operator of 22 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi and Ohio. Boyd Gaming press releases are available at boydgaming.com. Additional information about Boyd Gaming can be found at https://www.boydgaming.com/.
The company has a market cap of 5.86B as of 2022 and a ROE of 36.77%. The company operates gaming entertainment properties located in various states in the US.
– Golden Entertainment Inc ($NASDAQ:GDEN)
As of 2022, Golden Entertainment, Inc. had a market capitalization of 1.19 billion and a return on equity of 28.98%. The company is a gaming and hospitality company that owns and operates casinos, taverns, and gaming machines in the United States.
– Bloomberry Resorts Corp ($PSE:BLOOM)
The company’s market cap stands at 77.45B as of 2022 and its ROE is 11.83%. The company is engaged in the business of developing, owning and operating resorts.
Summary
Investing in Red Rock Resorts, Inc. (RRC) may be an attractive option for investors. Recently, Rhumbline Advisers sold a significant portion of its shares in the company. This has caused the stock price to move up on the same day, signaling positive sentiment for those considering investing in the company. Investors should look at the current financial situation of RRC, including its earnings growth and profitability, to make an informed decision. Analyzing the company’s market capitalization and debt-to-equity ratio can also provide insight into potential returns.
Additionally, it is important to consider the competition in the industry as well as the overall outlook of the sector when making an investment decision. Ultimately, investors must weigh their risk appetite and financial goals before making any decisions about investing in RRC.
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