Red Rock Resorts, Inc. (NASDAQ:RRR) Sees Large Decline in Short Interest

Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) was the recipient of a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 1,750,000 shares, a drop of 25.8% from the December 31st total of 2,360,000 shares. Approximately 3.5% of the shares of the stock are sold short. Based on an average daily volume of 617,200 shares, the short-interest ratio is currently 2.8 days.

Institutional Investors Weigh In On Red Rock Resorts

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP raised its holdings in shares of Red Rock Resorts by 479.4% in the third quarter. Quarry LP now owns 1,124 shares of the company's stock worth $61,000 after buying an additional 930 shares during the last quarter. US Bancorp DE increased its stake in shares of Red Rock Resorts by 2,223.9% in the third quarter. US Bancorp DE now owns 1,557 shares of the company's stock worth $85,000 after acquiring an additional 1,490 shares during the period. KBC Group NV increased its stake in shares of Red Rock Resorts by 37.1% in the fourth quarter. KBC Group NV now owns 1,996 shares of the company's stock worth $92,000 after acquiring an additional 540 shares during the period. nVerses Capital LLC increased its stake in shares of Red Rock Resorts by 28.6% in the third quarter. nVerses Capital LLC now owns 3,600 shares of the company's stock worth $196,000 after acquiring an additional 800 shares during the period. Finally, Mayfair Advisory Group LLC increased its stake 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 acquiring an additional 591 shares during the period. Hedge funds and other institutional investors own 47.84% of the company's stock.

Analyst Upgrades and Downgrades

RRR has been the topic of several recent analyst reports. JMP Securities decreased their price objective on shares of 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. Susquehanna reduced their price target on shares of Red Rock Resorts from $66.00 to $60.00 and set a "positive" rating on the stock in a report on Tuesday. Macquarie reduced their price target on shares of Red Rock Resorts from $65.00 to $64.00 and set an "outperform" rating on the stock in a report on Friday, November 8th. Barclays reduced their price target 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. 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 analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Red Rock Resorts presently has a consensus rating of "Hold" and a consensus price target of $57.25.

Red Rock Resorts Stock Up 0.1 %

Shares of RRR traded up $0.05 during mid-day trading on Tuesday, hitting $48.69. The company's stock had a trading volume of 131,166 shares, compared to its average volume of 588,193. The company's 50-day moving average is $47.39 and its 200-day moving average is $51.72. Red Rock Resorts has a 52-week low of $42.46 and a 52-week high of $63.28. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 5.30 and a beta of 2.02. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported $0.48 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.11. Red Rock Resorts had a net margin of 8.59% and a return on equity of 73.20%. The company had revenue of $468.02 million during the quarter, compared to analysts' expectations of $460.73 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. On average, equities research analysts forecast that Red Rock Resorts will post 1.44 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 2.05%. Red Rock Resorts's payout ratio is 37.04%.

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.