Red Rock Resorts (NASDAQ:RRR) Sets New 52-Week Low - Here's What Happened

Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report)'s share price hit a new 52-week low during trading on Monday . The company traded as low as $41.46 and last traded at $42.22, with a volume of 22640 shares traded. The stock had previously closed at $43.12.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. JMP Securities lowered their target price on shares of Red Rock Resorts from $61.00 to $57.00 and set a "market outperform" rating on the stock in a report on Thursday, January 16th. Stifel Nicolaus lifted their price objective on Red Rock Resorts from $50.00 to $54.00 and gave the company a "hold" rating in a report on Wednesday, February 12th. Susquehanna increased their target price 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. Jefferies Financial Group restated 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. Finally, Truist Financial cut their price objective on Red Rock Resorts from $56.00 to $49.00 and set a "hold" rating for the company in a research report on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $57.33.

Red Rock Resorts Price Performance

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 stock has a market capitalization of $4.01 billion, a PE ratio of 15.03, a P/E/G ratio of 4.32 and a beta of 1.69. The company's fifty day simple moving average is $47.54 and its two-hundred day simple moving average is $49.29.

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Red Rock Resorts (NASDAQ:RRR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.76 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.34. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. As a group, sell-side analysts predict that Red Rock Resorts, Inc. will post 1.76 EPS for the current year.

Red Rock Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.00 annualized dividend and a yield of 2.64%. Red Rock Resorts's payout ratio is currently 39.84%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Sterling Capital Management LLC increased its stake in Red Rock Resorts by 654.7% in the fourth quarter. Sterling Capital Management LLC now owns 883 shares of the company's stock valued at $41,000 after purchasing an additional 766 shares during the last quarter. Quarry LP grew its holdings 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 buying an additional 930 shares during the period. KBC Group NV increased its stake in shares of 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 acquiring an additional 540 shares during the last quarter. Tower Research Capital LLC TRC lifted 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 worth $95,000 after acquiring an additional 664 shares during the period. Finally, 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 acquiring an additional 591 shares during the last quarter. Hedge funds and other institutional investors own 47.84% of the company's stock.

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.