BlackRock Updates Passive Stake in Red Rock Resorts (RRR)
Ticker: RRR · Form: SC 13G/A · Filed: Jan 29, 2024 · CIK: 1653653
| Field | Detail |
|---|---|
| Company | Red Rock Resorts, Inc. (RRR) |
| Form Type | SC 13G/A |
| Filed Date | Jan 29, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock just updated its passive stake in Red Rock Resorts, confirming its position as a major institutional holder.**
AI Summary
BlackRock Inc. filed an amended Schedule 13G/A on January 29, 2024, indicating its ownership of Red Rock Resorts, Inc. Class A Common Stock as of December 31, 2023. This filing, Amendment No. 6, updates BlackRock's passive investment stake in the casino and hotel operator. This matters to investors because BlackRock is a major institutional investor, and changes in its holdings can signal shifts in confidence or strategy regarding Red Rock Resorts, Inc. (RRR) stock.
Why It Matters
This filing shows BlackRock's continued, albeit potentially adjusted, passive investment in Red Rock Resorts, Inc., providing transparency into a significant institutional holder's position.
Risk Assessment
Risk Level: low — This is a routine amendment filing by a passive institutional investor, indicating no immediate significant risk or change in company control.
Analyst Insight
Investors should note BlackRock's continued presence as a significant institutional holder in Red Rock Resorts, Inc., but this routine update doesn't suggest an immediate need for action. It's a data point for understanding institutional ownership.
Key Players & Entities
- BlackRock Inc. (company) — the institutional investor filing the SC 13G/A
- Red Rock Resorts, Inc. (company) — the subject company whose Class A Common Stock is being reported
- December 31, 2023 (date) — the date of the event which required the filing
- January 29, 2024 (date) — the filing date of the SC 13G/A
- Amendment No. 6 (number) — the specific amendment number of the filing
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G filing, as indicated by 'FORM TYPE: SC 13G/A' and 'SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 6)'.
Who is the filer of this SC 13G/A?
The filer of this SC 13G/A is BlackRock Inc., as stated under the 'FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc.' section.
What company's securities are the subject of this filing?
The subject company is Red Rock Resorts, Inc., specifically its Class A Common Stock, as noted under 'SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Red Rock Resorts, Inc.' and 'RED ROCK RESORTS INC (Name of Issuer) Class A Common Stock (Title of Class of Securities)'.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as explicitly stated in the filing.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(b), as indicated by the 'X' next to '[X] Rule 13d-1(b)'.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 29, 2024 regarding Red Rock Resorts, Inc. (RRR).