Short Interest in Red Rock Resorts, Inc. (NASDAQ:RRR) Increases By 37.7%

Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) was the recipient of a significant increase in short interest in the month of 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. Approximately 8.1% of the company's shares are sold short. Based on an average daily trading volume, of 593,000 shares, the short-interest ratio is currently 7.0 days.

Institutional Trading of Red Rock Resorts

Institutional investors and hedge funds have recently bought and sold shares of the company. Sterling Capital Management LLC grew its holdings in shares of Red Rock Resorts by 654.7% during the fourth quarter. Sterling Capital Management LLC now owns 883 shares of the company's stock valued at $41,000 after buying an additional 766 shares during the last quarter. Quarry LP lifted its position in Red Rock Resorts by 479.4% in the 3rd quarter. Quarry LP now owns 1,124 shares of the company's stock valued at $61,000 after acquiring an additional 930 shares in the last quarter. KBC Group NV boosted its stake in Red Rock Resorts by 37.1% during 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 during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Red Rock Resorts by 47.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company's stock worth $95,000 after purchasing an additional 664 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Red Rock Resorts in the third quarter worth $233,000. 47.84% of the stock is currently owned by institutional investors.

Red Rock Resorts Stock Down 3.2 %

Shares of RRR traded down $1.23 during mid-day trading on Friday, reaching $37.78. The company had a trading volume of 628,079 shares, compared to its average volume of 543,670. 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 company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 4.32 and a beta of 1.69. The firm has a 50-day moving average price of $47.54 and a 200 day moving average price of $49.29. Red Rock Resorts has a 52 week low of $36.13 and a 52 week high of $63.29.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last released its earnings results on Tuesday, February 11th. The company reported $0.76 EPS for the quarter, topping analysts' consensus estimates 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, sell-side analysts forecast 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 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 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend was Monday, March 17th. Red Rock Resorts's dividend payout ratio (DPR) is 39.84%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Susquehanna raised their price target on Red Rock Resorts from $60.00 to $61.00 and gave the stock a "positive" rating in a research report on Wednesday, February 12th. Truist Financial lowered their price target on shares of Red Rock Resorts from $56.00 to $49.00 and set a "hold" rating for the company in a report on Tuesday, January 14th. Mizuho increased their price target on shares of Red Rock Resorts from $44.00 to $52.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. Jefferies Financial Group restated a "hold" rating and issued a $51.00 price objective (down previously from $64.00) on shares of Red Rock Resorts in a research report on Friday, January 3rd. Finally, Stifel Nicolaus increased their target price on shares of Red Rock Resorts from $50.00 to $54.00 and gave the stock a "hold" rating in a report on Wednesday, February 12th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently 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.