On March 23, 2026, Benchmark initiated coverage of Red Rock Resorts (NasdaqGS: RRR) with a Buy recommendation. The average one-year price target for the company stands at $74.61 per share, representing a potential upside of 28.45% from its latest closing price of $58.08.
Red Rock Resorts’ projected annual revenue is $2.094 billion, showing a 4.10% increase, with a projected annual non-GAAP EPS of 2.95. Currently, 321 funds report positions in Red Rock Resorts, reflecting a decrease of 169 owners, or 34.49%, from the previous quarter. Total shares owned by institutions have decreased by 22.24% to 53,692K shares, while the average portfolio weight of all funds dedicated to RRR has increased by 47.30% to 0.11%.
Key shareholders include Bamco, holding 12,520K shares (21.45% ownership), with a 2.00% increase in portfolio allocation, and Diamond Hill Capital Management, which reduced its stake by 22.24% to 2,003K shares (3.43% ownership). Eminence Capital decreased its holdings by 48.77% to 1,614K shares (2.77% ownership).
