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

Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 4,130,000 shares, an increase of 37.7% from the February 28th total of 3,000,000 shares. Based on an average daily trading volume, of 593,000 shares, the short-interest ratio is currently 7.0 days. Currently, 8.1% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Arizona State Retirement System lifted its holdings in shares of Red Rock Resorts by 1.5% during the 4th quarter. Arizona State Retirement System now owns 14,707 shares of the company's stock valued at $680,000 after acquiring an additional 216 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Red Rock Resorts by 3.0% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 10,662 shares of the company's stock worth $492,000 after purchasing an additional 314 shares in the last quarter. KBC Group NV lifted its stake in shares of Red Rock Resorts by 37.1% during the fourth quarter. KBC Group NV now owns 1,996 shares of the company's stock worth $92,000 after purchasing an additional 540 shares in the last quarter. Mayfair Advisory Group LLC boosted its position in shares of Red Rock Resorts by 15.1% in the fourth quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company's stock worth $208,000 after buying an additional 591 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Red Rock Resorts by 47.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company's stock valued at $95,000 after buying an additional 664 shares during the period. 47.84% of the stock is owned by institutional investors and hedge funds.

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Red Rock Resorts Trading Down 9.4 %

Shares of RRR stock traded down $4.06 during trading hours on Thursday, hitting $39.01. 908,403 shares of the company were exchanged, compared to its average volume of 542,861. Red Rock Resorts has a 1 year low of $38.93 and a 1 year high of $63.29. The firm has a fifty day moving average of $47.71 and a 200 day moving average of $49.36. The firm has a market cap of $4.14 billion, a PE ratio of 15.54, a PEG ratio of 4.32 and a beta of 1.69. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last announced its quarterly earnings data 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 net margin of 7.94% and a return on equity of 71.00%. Analysts expect that Red Rock Resorts will post 1.76 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date was Monday, March 17th. Red Rock Resorts's dividend payout ratio (DPR) is presently 39.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RRR shares. Jefferies Financial Group reiterated a "hold" rating and set a $51.00 price target (down from $64.00) on shares of Red Rock Resorts in a research report on Friday, January 3rd. JMP Securities decreased their target price on Red Rock Resorts from $61.00 to $57.00 and set a "market outperform" rating on the stock in a research report on Thursday, January 16th. Mizuho lifted their price target on Red Rock Resorts from $44.00 to $52.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Stifel Nicolaus raised their target price on shares of Red Rock Resorts from $50.00 to $54.00 and gave the company a "hold" rating in a report on Wednesday, February 12th. Finally, Truist Financial reduced their price target on shares of Red Rock Resorts from $56.00 to $49.00 and set a "hold" rating on the stock in a report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Red Rock Resorts has a consensus rating of "Hold" and an average target price of $57.33.

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.