Red Rock Resorts, Inc. (NASDAQ:RRR) Sees Significant Drop in Short Interest

Red Rock Resorts, Inc. (NASDAQ:RRR) saw a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 1,750,000 shares, a decrease of 25.8% from the December 31st total of 2,360,000 shares. Currently, 3.5% of the company’s stock are short sold. Based on an average daily volume of 617,200 shares, the short-interest ratio is presently 2.8 days.

Red Rock Resorts Trading Up 3.8 %

NASDAQ RRR opened at $49.52 on Friday. The firm’s fifty day moving average is $47.46 and its two-hundred day moving average is $51.99. Red Rock Resorts has a one year low of $42.46 and a one year 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 has a market cap of $5.23 billion, a PE ratio of 18.34, a P/E/G ratio of 5.16 and a beta of 2.01.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.37 by $0.11. Red Rock Resorts had a return on equity of 73.20% and a net margin of 8.59%. The firm had revenue of $468.02 million during the quarter, compared to the consensus estimate of $460.73 million. During the same period in the prior year, the business earned $0.60 EPS. Analysts expect that Red Rock Resorts will post 1.44 earnings per share for the current year.

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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Monday, December 16th. Red Rock Resorts’s dividend payout ratio is presently 37.04%.

Hedge Funds Weigh In On Red Rock Resorts

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Avior Wealth Management LLC lifted its stake in shares of Red Rock Resorts by 3.0% in the 3rd quarter. Avior Wealth Management LLC now owns 7,898 shares of the company’s stock worth $430,000 after acquiring an additional 232 shares during the period. Truist Financial Corp lifted its position in Red Rock Resorts by 0.9% in the second quarter. Truist Financial Corp now owns 27,545 shares of the company’s stock valued at $1,513,000 after purchasing an additional 241 shares during the period. KBC Group NV boosted its holdings in Red Rock Resorts by 37.1% in the 4th quarter. KBC Group NV now owns 1,996 shares of the company’s stock valued at $92,000 after purchasing an additional 540 shares in the last quarter. Mayfair Advisory Group LLC increased its position in Red Rock Resorts by 15.1% during the 4th quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock worth $208,000 after purchasing an additional 591 shares during the period. Finally, King Luther Capital Management Corp raised its stake in shares of Red Rock Resorts by 1.2% during the 3rd quarter. King Luther Capital Management Corp now owns 64,043 shares of the company’s stock worth $3,487,000 after buying an additional 765 shares in the last quarter. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Mizuho cut shares of Red Rock Resorts from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $57.00 to $44.00 in a research report on Monday, November 25th. Truist Financial decreased their price target on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. JMP Securities dropped their price objective on Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating on the stock in a report on Thursday, January 16th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $51.00 price target (down from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. Finally, Barclays cut their price objective on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Red Rock Resorts presently has a consensus rating of “Hold” and an average price target of $58.08.

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.