Red Rock Resorts (NASDAQ:RRR) Trading Down 6.5%

Red Rock Resorts Inc (NASDAQ:RRR) fell 6.5% on Friday . The stock traded as low as $10.88 and last traded at $10.96, 1,661,165 shares were traded during trading. A decline of 17% from the average session volume of 2,009,147 shares. The stock had previously closed at $11.72.

Several research firms recently weighed in on RRR. Stifel Nicolaus reduced their target price on Red Rock Resorts from $28.00 to $13.00 and set a “hold” rating on the stock in a research report on Wednesday, May 20th. JPMorgan Chase & Co. reduced their target price on Red Rock Resorts from $30.00 to $13.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 20th. SunTrust Banks reiterated a “buy” rating and set a $14.00 target price on shares of Red Rock Resorts in a research report on Wednesday, May 20th. Zacks Investment Research downgraded Red Rock Resorts from a “hold” rating to a “sell” rating and set a $12.00 target price on the stock. in a research report on Monday, July 20th. Finally, Nomura Instinet reduced their target price on Red Rock Resorts from $30.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, May 20th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Red Rock Resorts currently has an average rating of “Hold” and a consensus target price of $16.22.

The business has a fifty day moving average price of $11.31 and a 200 day moving average price of $14.61. The company has a market capitalization of $1.37 billion, a PE ratio of -4.55 and a beta of 2.61. The company has a debt-to-equity ratio of 6.68, a quick ratio of 4.79 and a current ratio of 4.86.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Tuesday, May 19th. The company reported ($2.18) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($2.31). The firm had revenue of $377.40 million during the quarter, compared to analysts’ expectations of $393.43 million. Red Rock Resorts had a positive return on equity of 4.27% and a negative net margin of 9.34%. The business’s revenue for the quarter was down 15.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.16 earnings per share. Research analysts forecast that Red Rock Resorts Inc will post -1.48 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in RRR. First Trust Advisors LP purchased a new stake in shares of Red Rock Resorts during the 1st quarter valued at about $486,000. Victory Capital Management Inc. raised its holdings in shares of Red Rock Resorts by 10.0% during the 4th quarter. Victory Capital Management Inc. now owns 11,370 shares of the company’s stock valued at $272,000 after buying an additional 1,033 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Red Rock Resorts by 12.4% during the 4th quarter. Renaissance Technologies LLC now owns 179,800 shares of the company’s stock valued at $4,306,000 after buying an additional 19,800 shares during the period. UBS Group AG raised its holdings in shares of Red Rock Resorts by 121.0% during the 4th quarter. UBS Group AG now owns 1,421 shares of the company’s stock valued at $35,000 after buying an additional 8,200 shares during the period. Finally, Guggenheim Capital LLC purchased a new stake in shares of Red Rock Resorts during the 4th quarter valued at about $6,456,000. Institutional investors and hedge funds own 56.46% of the company’s stock.

About Red Rock Resorts (NASDAQ:RRR)

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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