Red Rock Resorts (NASDAQ:RRR) Sets New 12-Month Low - Time to Sell?

Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report)'s stock price reached a new 52-week low on Friday . The company traded as low as $42.61 and last traded at $43.10, with a volume of 23451 shares traded. The stock had previously closed at $43.94.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wells Fargo & Company dropped their target price on shares of Red Rock Resorts from $64.00 to $58.00 and set an "equal weight" rating for the company in a report on Thursday, October 17th. Truist Financial dropped their price target on Red Rock Resorts from $63.00 to $58.00 and set a "hold" rating for the company in a research note on Wednesday, October 23rd. Macquarie dropped their target price on shares of Red Rock Resorts from $65.00 to $64.00 and set an "outperform" rating for the company in a research report on Friday, November 8th. Mizuho cut Red Rock Resorts from an "outperform" rating to a "neutral" rating and lowered their target price for the company from $57.00 to $44.00 in a research note on Monday, November 25th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and issued a $51.00 price target (down from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $59.69.

Red Rock Resorts Stock Performance

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 firm has a market capitalization of $4.56 billion, a PE ratio of 16.00, a P/E/G ratio of 6.69 and a beta of 2.01. The business has a 50-day simple moving average of $48.99 and a 200-day simple moving average of $52.85.

Red Rock Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.00 annualized dividend and a yield of 2.32%. Red Rock Resorts's dividend payout ratio (DPR) is currently 37.04%.

Institutional Investors Weigh In On Red Rock Resorts

A number of hedge funds have recently made changes to their positions in the stock. Long Pond Capital LP purchased a new stake in shares of Red Rock Resorts during the second quarter valued at $21,987,000. Eminence Capital LP grew its stake in Red Rock Resorts by 23.7% during the 2nd quarter. Eminence Capital LP now owns 1,952,754 shares of the company's stock valued at $107,265,000 after purchasing an additional 374,128 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Red Rock Resorts by 4,050.3% in the third quarter. Sequoia Financial Advisors LLC now owns 333,769 shares of the company's stock valued at $18,170,000 after purchasing an additional 325,727 shares during the period. Wellington Management Group LLP raised its stake in shares of Red Rock Resorts by 239.0% in the third quarter. Wellington Management Group LLP now owns 185,018 shares of the company's stock worth $10,072,000 after purchasing an additional 130,434 shares during the last quarter. Finally, Bamco Inc. NY lifted its holdings in shares of Red Rock Resorts by 1.0% during the third quarter. Bamco Inc. NY now owns 10,623,284 shares of the company's stock worth $578,332,000 after purchasing an additional 106,509 shares during the period. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

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.