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

Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) was the recipient of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 2,790,000 shares, a growth of 21.3% from the January 31st total of 2,300,000 shares. Based on an average daily trading volume, of 587,200 shares, the short-interest ratio is currently 4.8 days. Approximately 5.5% of the shares of the company are sold short.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Truist Financial dropped their target price on Red Rock Resorts from $56.00 to $49.00 and set a "hold" rating on the stock in a research report on Tuesday, January 14th. JMP Securities decreased their price target on Red Rock Resorts from $61.00 to $57.00 and set a "market outperform" rating for the company in a research note on Thursday, January 16th. Mizuho increased 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 increased their price target on Red Rock Resorts from $50.00 to $54.00 and gave the stock a "hold" rating in a research note on Wednesday, February 12th. Finally, Susquehanna increased their price target on Red Rock Resorts from $60.00 to $61.00 and gave the stock a "positive" rating in a research note on Wednesday, February 12th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $57.33.

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Hedge Funds Weigh In On Red Rock Resorts

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Arizona State Retirement System boosted its position in shares of Red Rock Resorts by 1.5% in the 4th quarter. Arizona State Retirement System now owns 14,707 shares of the company's stock valued at $680,000 after purchasing an additional 216 shares during the period. Avior Wealth Management LLC boosted its position in Red Rock Resorts by 3.0% during the 3rd quarter. Avior Wealth Management LLC now owns 7,898 shares of the company's stock worth $430,000 after acquiring an additional 232 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in Red Rock Resorts by 3.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 10,662 shares of the company's stock worth $492,000 after acquiring an additional 314 shares during the period. KBC Group NV boosted its position in Red Rock Resorts by 37.1% during the 4th 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. Finally, Mayfair Advisory Group LLC boosted its position in Red Rock Resorts by 15.1% during the 4th 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. Institutional investors and hedge funds own 47.84% of the company's stock.

Red Rock Resorts Price Performance

RRR stock traded down $0.06 during trading hours on Friday, hitting $47.01. 984,480 shares of the stock traded hands, compared to its average volume of 626,986. 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 has a one year low of $42.46 and a one year high of $63.28. The company has a market cap of $4.99 billion, a P/E ratio of 18.73, a P/E/G ratio of 4.32 and a beta of 2.01. The stock has a 50-day simple moving average of $48.24 and a 200 day simple moving average of $50.81.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share for the quarter, beating 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%. Equities analysts forecast that Red Rock Resorts will post 1.76 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.25 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.13%. Red Rock Resorts's dividend payout ratio (DPR) 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.