Red Rock Resorts (NASDAQ:RRR) Sees Strong Trading Volume – Should You Buy?

Red Rock Resorts, Inc. (NASDAQ:RRR) shares saw an uptick in trading volume on Thursday . 1,381,775 shares were traded during mid-day trading, an increase of 186% from the previous session’s volume of 483,586 shares.The stock last traded at $50.10 and had previously closed at $51.28.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Mizuho reiterated an “outperform” rating and set a $57.00 target price (down previously from $67.00) on shares of Red Rock Resorts in a report on Tuesday. Morgan Stanley boosted their target price on Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 4th. Truist Financial decreased their price target on shares of 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. JPMorgan Chase & Co. increased their target price on shares of Red Rock Resorts from $62.00 to $69.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, Macquarie lowered their price target on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Red Rock Resorts presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.50.

Red Rock Resorts Stock Performance

The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.89 and a current ratio of 1.02. The stock’s fifty day moving average price is $53.38 and its 200-day moving average price is $53.81. The company has a market capitalization of $5.30 billion, a P/E ratio of 18.99, a PEG ratio of 6.52 and a beta of 2.04.

Red Rock Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.99%. Red Rock Resorts’s dividend payout ratio (DPR) is 37.04%.

Institutional Trading of Red Rock Resorts

Hedge funds and other institutional investors have recently modified their holdings of the stock. Covestor Ltd grew its holdings in Red Rock Resorts by 16,666.7% in the 1st quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $30,000 after buying an additional 500 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Red Rock Resorts in the first quarter valued at about $78,000. US Bancorp DE increased its position in Red Rock Resorts by 2,223.9% during the third quarter. US Bancorp DE now owns 1,557 shares of the company’s stock worth $85,000 after acquiring an additional 1,490 shares during the period. Point72 DIFC Ltd acquired a new stake in Red Rock Resorts in the 2nd quarter worth about $98,000. Finally, nVerses Capital LLC acquired a new stake in Red Rock Resorts in the 2nd quarter worth about $154,000. 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.