Short Interest in Red Rock Resorts, Inc. (NASDAQ:RRR) Grows By 31.4%

Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) was the target of a significant increase in short interest in January. As of January 31st, there was short interest totalling 2,300,000 shares, an increase of 31.4% from the January 15th total of 1,750,000 shares. Based on an average daily volume of 650,000 shares, the short-interest ratio is presently 3.5 days. Approximately 4.6% of the company's stock are short sold.

Institutional Trading of Red Rock Resorts

A number of institutional investors have recently made changes to their positions in the stock. Voloridge Investment Management LLC boosted its stake in Red Rock Resorts by 63.4% during the fourth quarter. Voloridge Investment Management LLC now owns 229,792 shares of the company's stock worth $10,626,000 after acquiring an additional 89,169 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Red Rock Resorts by 49.1% during the fourth quarter. ProShare Advisors LLC now owns 13,855 shares of the company's stock worth $641,000 after purchasing an additional 4,560 shares in the last quarter. Malaga Cove Capital LLC boosted its stake in Red Rock Resorts by 46.8% in the 4th quarter. Malaga Cove Capital LLC now owns 13,377 shares of the company's stock worth $619,000 after purchasing an additional 4,263 shares during the period. Occudo Quantitative Strategies LP bought a new stake in shares of Red Rock Resorts in the fourth quarter worth about $269,000. Finally, Millennium Management LLC raised its position in shares of Red Rock Resorts by 74.1% during the 4th quarter. Millennium Management LLC now owns 275,311 shares of the company's stock valued at $12,730,000 after buying an additional 117,199 shares in the last quarter. Hedge funds and other institutional investors own 47.84% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RRR. Macquarie dropped their price target 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. Stifel Nicolaus increased their price objective on Red Rock Resorts from $50.00 to $54.00 and gave the company a "hold" rating in a research report on Wednesday, February 12th. Barclays lowered their price target on Red Rock Resorts from $65.00 to $62.00 and set an "overweight" rating on the stock in a report on Friday, November 8th. Susquehanna lifted their price objective on shares of Red Rock Resorts from $60.00 to $61.00 and gave the company a "positive" rating in a research note on Wednesday, February 12th. Finally, Truist Financial cut their target price on shares of Red Rock Resorts from $56.00 to $49.00 and set a "hold" rating for the company in a research report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $57.33.

Red Rock Resorts Trading Down 0.0 %

NASDAQ RRR traded down $0.01 during mid-day trading on Wednesday, reaching $52.90. 402,461 shares of the stock were exchanged, compared to its average volume of 663,946. The stock has a market cap of $5.59 billion, a P/E ratio of 21.08, a P/E/G ratio of 5.76 and a beta of 2.02. 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 current ratio of 1.02 and a quick ratio of 0.96. The stock has a 50 day simple moving average of $47.64 and a 200-day simple moving average of $51.24.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last announced its earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. On average, analysts anticipate that Red Rock Resorts will post 1.76 EPS for the current year.

Red Rock Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.89%. Red Rock Resorts's dividend payout ratio is 39.84%.

About Red Rock Resorts

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.