Red Rock Resorts (NASDAQ:RRR) Shares Gap Down - Here's What Happened

Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $55.66, but opened at $52.20. Red Rock Resorts shares last traded at $51.21, with a volume of 170,164 shares traded.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RRR. Barclays reduced their price target on Red Rock Resorts from $65.00 to $62.00 and set an "overweight" rating for the company in a research report on Friday. Stifel Nicolaus boosted their target price on Red Rock Resorts from $59.00 to $62.00 and gave the stock a "hold" rating in a research note on Wednesday, July 24th. Susquehanna boosted their target price on Red Rock Resorts from $63.00 to $70.00 and gave the stock a "positive" rating in a research note on Wednesday, July 24th. JMP Securities restated a "market outperform" rating and set a $65.00 target price on shares of Red Rock Resorts in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. boosted their target price on Red Rock Resorts from $62.00 to $69.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $62.25.

Red Rock Resorts Trading Down 4.3 %

The company has a debt-to-equity ratio of 15.15, a quick ratio of 0.89 and a current ratio of 0.94. The company has a 50 day simple moving average of $53.81 and a two-hundred day simple moving average of $54.00. The firm has a market cap of $5.63 billion, a PE ratio of 18.89, a P/E/G ratio of 5.96 and a beta of 2.04.

Institutional Trading of Red Rock Resorts

Hedge funds have recently modified their holdings of the stock. Edgestream Partners L.P. purchased a new stake in shares of Red Rock Resorts in the first quarter worth about $1,238,000. BNP Paribas Financial Markets raised its holdings in Red Rock Resorts by 35.5% in the 1st quarter. BNP Paribas Financial Markets now owns 32,080 shares of the company's stock worth $1,919,000 after purchasing an additional 8,402 shares during the period. Nicholas Investment Partners LP acquired a new position in Red Rock Resorts in the 2nd quarter worth about $5,336,000. Lisanti Capital Growth LLC acquired a new position in Red Rock Resorts in the 1st quarter worth about $2,260,000. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in Red Rock Resorts by 26.7% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company's stock worth $65,706,000 after purchasing an additional 251,855 shares during the period. Hedge funds and other institutional investors own 47.84% of the company's stock.

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.