Red Rock Resorts Target of Unusually High Options Trading (NASDAQ:RRR)


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Red Rock Resorts, Inc. (NASDAQ:RRR) was the recipient of some unusual options trading on Tuesday. Stock traders bought 1,230 put options on the stock. This represents an increase of 1,822% compared to the average daily volume of 64 put options.

Large investors have recently modified their holdings of the company. Dimension Capital Management LLC bought a new position in Red Rock Resorts during the third quarter worth about $31,000. Acadian Asset Management LLC acquired a new stake in Red Rock Resorts during the 3rd quarter worth $34,000. Capstone Triton Financial Group LLC acquired a new position in shares of Red Rock Resorts in the 4th quarter valued at $60,000. Neo Ivy Capital Management bought a new stake in Red Rock Resorts in the 3rd quarter valued at $61,000. Finally, SG Americas Securities LLC bought a new stake in Red Rock Resorts in the 4th quarter valued at $119,000. 52.40% of the stock is currently owned by institutional investors.

Several equities analysts recently commented on the company. The Goldman Sachs Group upped their target price on Red Rock Resorts from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, January 26th. Deutsche Bank Aktiengesellschaft upped their target price on Red Rock Resorts from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, December 9th. They noted that the move was a valuation call. Macquarie upped their target price on Red Rock Resorts from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, February 10th. JPMorgan Chase & Co. upped their target price on Red Rock Resorts from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, February 10th. Finally, KeyCorp assumed coverage on Red Rock Resorts in a research report on Wednesday, January 13th. They set an “overweight” rating and a $30.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $24.15.

Shares of RRR stock opened at $34.52 on Thursday. Red Rock Resorts has a 12-month low of $7.51 and a 12-month high of $35.94. The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of -13.38 and a beta of 2.55. The business has a 50 day simple moving average of $32.32 and a 200 day simple moving average of $24.87. The company has a debt-to-equity ratio of 5.40, a current ratio of 1.14 and a quick ratio of 1.08.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results on Monday, February 8th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.15. The firm had revenue of $343.41 million during the quarter, compared to analyst estimates of $342.17 million. Red Rock Resorts had a negative return on equity of 2.52% and a negative net margin of 13.48%. The firm’s quarterly revenue was down 25.5% on a year-over-year basis. During the same period last year, the company posted $0.05 EPS. On average, equities analysts anticipate that Red Rock Resorts will post -0.03 EPS for the current fiscal year.

About Red Rock Resorts

Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas Operations and Native American Management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.

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