JMP Securities Has Lowered Expectations for Red Rock Resorts (NASDAQ:RRR) Stock Price

Red Rock Resorts (NASDAQ:RRR - Free Report) had its price target lowered by JMP Securities from $61.00 to $57.00 in a research note released on Thursday,Benzinga reports. The firm currently has a market outperform rating on the stock.

RRR has been the topic of several other reports. Truist Financial reduced their price target on Red Rock Resorts from $56.00 to $49.00 and set a "hold" rating on the stock in a report on Tuesday. Wells Fargo & Company reduced their target price on 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. Macquarie lowered their target price on shares of Red Rock Resorts from $65.00 to $64.00 and set an "outperform" rating for the company in a research note on Friday, November 8th. Barclays decreased their price objective on shares of Red Rock Resorts from $65.00 to $62.00 and set an "overweight" rating for the company in a report on Friday, November 8th. Finally, Mizuho lowered shares of Red Rock Resorts from an "outperform" rating to a "neutral" rating and reduced their target price for the stock from $57.00 to $44.00 in a research report on Monday, November 25th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $58.38.

Red Rock Resorts Trading Up 0.4 %

RRR stock traded up $0.20 during mid-day trading on Thursday, reaching $46.74. 645,941 shares of the stock traded hands, compared to its average volume of 652,754. Red Rock Resorts has a one year low of $42.46 and a one year high of $63.28. The stock has a market capitalization of $4.94 billion, a PE ratio of 17.31, a PEG ratio of 4.75 and a beta of 2.01. 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 business has a 50-day moving average price of $48.32 and a two-hundred day moving average price of $52.59.

Red Rock Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Monday, December 16th. Red Rock Resorts's payout ratio is 37.04%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RRR. Bamco Inc. NY boosted its stake in Red Rock Resorts by 1.0% in the third quarter. Bamco Inc. NY now owns 10,623,284 shares of the company's stock valued at $578,332,000 after acquiring an additional 106,509 shares in the last quarter. Eminence Capital LP lifted its holdings in shares of Red Rock Resorts by 23.7% during the 2nd quarter. Eminence Capital LP now owns 1,952,754 shares of the company's stock valued at $107,265,000 after purchasing an additional 374,128 shares during the last quarter. Geode Capital Management LLC boosted its position 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 worth $63,776,000 after purchasing an additional 14,029 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in Red Rock Resorts by 3.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,134,509 shares of the company's stock worth $61,763,000 after buying an additional 38,443 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Red Rock Resorts by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 577,108 shares of the company's stock valued at $31,418,000 after buying an additional 4,810 shares in the last quarter. Institutional investors own 47.84% of the company's stock.

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.