Red Rock Resorts, Inc. (NASDAQ:RRR) Receives Average Recommendation of “Hold” from Analysts

Shares of Red Rock Resorts, Inc. (NASDAQ:RRR) have been assigned a consensus rating of “Hold” from the thirteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $59.69.

A number of research analysts recently commented on RRR shares. Truist Financial dropped their price target on Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. Barclays decreased their price target on shares of 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. JMP Securities reissued a “market outperform” rating and set a $65.00 target price on shares of Red Rock Resorts in a research report on Monday, October 14th. Wells Fargo & Company cut their target price on shares of Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 17th. Finally, Macquarie lowered their target price on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th.

Institutional Trading of Red Rock Resorts

A number of large investors have recently bought and sold shares of RRR. Long Pond Capital LP purchased a new position in Red Rock Resorts during the second quarter valued at approximately $21,987,000. Eminence Capital LP grew its holdings in shares of Red Rock Resorts by 23.7% in the second quarter. Eminence Capital LP now owns 1,952,754 shares of the company’s stock worth $107,265,000 after purchasing an additional 374,128 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Red Rock Resorts by 4,050.3% during the third quarter. Sequoia Financial Advisors LLC now owns 333,769 shares of the company’s stock valued at $18,170,000 after acquiring an additional 325,727 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Red Rock Resorts by 239.0% in the 3rd quarter. Wellington Management Group LLP now owns 185,018 shares of the company’s stock worth $10,072,000 after buying an additional 130,434 shares during the last quarter. Finally, Bamco Inc. NY increased its position in Red Rock Resorts by 1.0% during the 3rd quarter. Bamco Inc. NY now owns 10,623,284 shares of the company’s stock valued at $578,332,000 after purchasing an additional 106,509 shares during the period. 47.84% of the stock is owned by hedge funds and other institutional investors.

Red Rock Resorts Price Performance

NASDAQ:RRR opened at $44.91 on Friday. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 6.69 and a beta of 2.01. Red Rock Resorts has a 52 week low of $43.64 and a 52 week high of $63.28. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02. The firm’s 50-day simple moving average is $49.69 and its 200 day simple moving average is $53.07.

Red Rock Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Monday, December 16th. Red Rock Resorts’s dividend payout ratio (DPR) is currently 37.04%.

Red Rock Resorts Company Profile

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.