Red Rock Resorts Inc. (NASDAQ: RRR) started the 2019 fiscal year with a fall that extended to the second and third quarters, but now, the company seems to be recovering. Red Rock stock looked more appealing in the third quarter; data confirms that some investors have dipped funds into the regional gaming company around that time. According to data tracker Insider Monkey, about 17 hedge funds contributed to a change of six percent from the previous quarter.

Red Rock hedge funds are low compared to the same period in 2018, but a little higher from the second quarter of 2019. Buyers who embraced Red Rock stock through July and September are reaping; the shares prices have grown by 39.50 percent compared to august downs and 10 percent this month.

According to Casino.org, Red Rock stock recorded a 15.2 percent of the year to year growth, the company trail behind S&P 500, Boyd Gaming, and Penn National Gaming. In the hedge fund ownership, Red Rock also trails behind rival companies, including Penn National and Eldorado. As per 30th September, Diamond Hill Capital owned the most extensive stock of Red Rock among hedge funds at $148 million of the gaming company stock, followed by Long Capital at $61.2 million.

The new hedge fund buyers at Red Rock stock in the third quarter include Zimmer Partners, Steve Cohen’s Point72 Asset Management, Weld Capital Management, Neo Ivy Capital, and Centenus Global Management.

The new investors will get high profit in the long term; analysts are bound to move the stock prices forecast high. The new Red Rock target was $24.10, but on Friday, the stock closed at $23.38, and thus, analysts might be forced to raise their price target.

Hud Wafiq Ganem is a gambling industry pioneer. He is the founder of Onlinecasino.us and his yearly gambling industry predictions and analysis are respected and adhered to by veterans and novices alike.


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