Published on 9 Nov 2023 on Insider Monkey via Yahoo Finance
Red Rock Resorts (RRR) Shares were Pressured in Q3
Diamond Hill Capital, an investment management company, released its “Small Cap Fund” third-quarter 2023 investor letter. A copy of the same can be downloaded here. During Q3 2023, US stocks fell by 3%, bringing YTD gains to around 12% as measured by the Russell 3000 Index. The portfolio trailed the Russell 2000 Index in Q3 and returned -5.62% bringing the YTD returns to 6.70%. Relative weakness in consumer discretionary holdings, industrials, and technology impacted the performance in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Diamond Hill Small Cap Fund highlighted stocks like Red Rock Resorts, Inc. (NASDAQ:RRR) in the Q3 2023 investor letter. Headquartered in Las Vegas, Nevada, Red Rock Resorts, Inc. (NASDAQ:RRR) operates casino and entertainment properties. On November 8, 2023, Red Rock Resorts, Inc. (NASDAQ:RRR) stock closed at $42.65 per share. One-month return of Red Rock Resorts, Inc. (NASDAQ:RRR) was 1.91%, and its shares gained 4.95% of their value over the last 52 weeks. Red Rock Resorts, Inc. (NASDAQ:RRR) has a market capitalization of $2.5 billion.
Diamond Hill Small Cap Fund made the following comment about Red Rock Resorts, Inc. (NASDAQ:RRR) in its Q3 2023 investor letter: