Red Rock Resorts (NASDAQ:RRR) Sets New 52-Week Low – What’s Next?

Red Rock Resorts, Inc. (NASDAQ:RRR)’s share price reached a new 52-week low during trading on Friday . The company traded as low as $44.18 and last traded at $44.72, with a volume of 577568 shares traded. The stock had previously closed at $46.24.

Analysts Set New Price Targets

RRR has been the subject of several recent analyst reports. Barclays dropped their price objective on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Mizuho downgraded shares of Red Rock Resorts from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $57.00 to $44.00 in a research note on Monday, November 25th. Macquarie lowered their price objective on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. JMP Securities restated a “market outperform” rating and issued a $65.00 target price on shares of Red Rock Resorts in a research report on Monday, October 14th. Finally, Truist Financial decreased their target price on shares of Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating on the stock in a research note on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Red Rock Resorts currently has an average rating of “Moderate Buy” and an average target price of $60.42.

Red Rock Resorts Trading Down 3.3 %

The company has a market cap of $4.72 billion, a P/E ratio of 16.56, a PEG ratio of 6.69 and a beta of 2.01. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The firm’s 50 day moving average is $49.85 and its two-hundred day moving average is $53.11.

Red Rock Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.00 annualized dividend and a dividend yield of 2.24%. Red Rock Resorts’s payout ratio is 37.04%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of Red Rock Resorts by 18.9% during the third quarter. JPMorgan Chase & Co. now owns 89,197 shares of the company’s stock worth $4,856,000 after buying an additional 14,148 shares during the period. Virtu Financial LLC bought a new position in shares of Red Rock Resorts in the 3rd quarter worth about $345,000. Geode Capital Management LLC lifted its stake in shares of Red Rock Resorts by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,171,267 shares of the company’s stock valued at $63,776,000 after purchasing an additional 14,029 shares during the period. Barclays PLC boosted its position in shares of Red Rock Resorts by 227.9% during the 3rd quarter. Barclays PLC now owns 78,932 shares of the company’s stock valued at $4,297,000 after purchasing an additional 54,863 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Red Rock Resorts during the third quarter worth approximately $233,000. Institutional investors own 47.84% of the company’s stock.

About Red Rock Resorts

Red Rock Resorts, Inc, through its interest in Station Casinos LLC, develops and operates casino and entertainment properties in the United States. The company owns and operates gaming and entertainment facilities, including Durango Casino & Resort and smaller casinos in the Las Vegas regional market.