Deutsche Bank restated their buy rating on shares of Red Rock Resorts (NASDAQ:RRR) in a research note issued to investors on Wednesday morning, AnalystRatings.com reports. The brokerage currently has a $25.00 target price on the stock.
Several other research firms have also recently issued reports on RRR. Nomura reduced their price objective on shares of Red Rock Resorts from $36.00 to $26.00 and set a buy rating on the stock in a research report on Tuesday, August 27th. TheStreet cut shares of Red Rock Resorts from a b- rating to a c+ rating in a research report on Thursday, July 11th. ValuEngine upgraded shares of Red Rock Resorts from a hold rating to a buy rating in a research report on Friday, November 1st. Stifel Nicolaus set a $22.00 price target on shares of Red Rock Resorts and gave the stock a hold rating in a research report on Wednesday, August 7th. Finally, BidaskClub upgraded shares of Red Rock Resorts from a sell rating to a hold rating in a research report on Wednesday, October 16th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $25.57.
Shares of Red Rock Resorts stock traded up $0.21 during trading hours on Wednesday, reaching $21.52. 552,100 shares of the company’s stock were exchanged, compared to its average volume of 643,074. The company has a 50 day moving average of $21.01 and a two-hundred day moving average of $21.80. Red Rock Resorts has a fifty-two week low of $16.76 and a fifty-two week high of $29.80. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 3.62. The stock has a market cap of $2.73 billion, a P/E ratio of 16.43 and a beta of 2.08.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Thursday, December 12th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 30.53%.
In other news, Director Frank J. Fertitta III bought 555,149 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average price of $19.30 per share, with a total value of $10,714,375.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lorenzo J. Fertitta bought 131,650 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were purchased at an average cost of $18.51 per share, with a total value of $2,436,841.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 1,027,509 shares of company stock valued at $19,197,896. 40.19% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. Zeke Capital Advisors LLC bought a new position in Red Rock Resorts during the third quarter worth $54,996,000. Nuveen Asset Management LLC bought a new stake in Red Rock Resorts in the second quarter valued at $25,778,000. Cohen & Steers Inc. lifted its stake in Red Rock Resorts by 16.6% in the second quarter. Cohen & Steers Inc. now owns 4,267,738 shares of the company’s stock valued at $91,671,000 after buying an additional 607,780 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Red Rock Resorts by 9.4% in the second quarter. Diamond Hill Capital Management Inc. now owns 6,883,701 shares of the company’s stock valued at $147,862,000 after buying an additional 593,837 shares during the last quarter. Finally, Marshall Wace North America L.P. lifted its stake in Red Rock Resorts by 287.3% in the second quarter. Marshall Wace North America L.P. now owns 550,438 shares of the company’s stock valued at $11,824,000 after buying an additional 408,329 shares during the last quarter. 65.72% of the stock is owned by institutional investors.
About Red Rock Resorts
Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.
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