Red Rock Resorts, Inc. (NASDAQ:RRR) Short Interest Update

Red Rock Resorts, Inc. (NASDAQ:RRR) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 2,710,000 shares, an increase of 16.8% from the October 15th total of 2,320,000 shares. Currently, 5.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 489,700 shares, the days-to-cover ratio is currently 5.5 days.

Red Rock Resorts Trading Up 1.3 %

Shares of NASDAQ:RRR traded up $0.63 during trading on Friday, reaching $50.84. 862,367 shares of the company traded hands, compared to its average volume of 730,253. The company has a current ratio of 1.02, a quick ratio of 0.89 and a debt-to-equity ratio of 14.28. Red Rock Resorts has a 52-week low of $43.08 and a 52-week high of $63.28. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of 18.83, a P/E/G ratio of 6.33 and a beta of 2.04. The business’s fifty day moving average is $53.15 and its 200-day moving average is $53.76.

Red Rock Resorts Announces Dividend

The company also recently declared 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 of this dividend is Monday, December 16th. This represents a $1.00 annualized dividend and a yield of 1.97%. Red Rock Resorts’s payout ratio is currently 37.04%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on RRR shares. Truist Financial lowered their target price on shares of Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating on the stock in a research note on Wednesday, October 23rd. Mizuho reiterated an “outperform” rating and issued a $57.00 target price (down from $67.00) on shares of Red Rock Resorts in a research report on Tuesday, November 12th. JPMorgan Chase & Co. raised their price target on Red Rock Resorts from $62.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Barclays cut their price objective on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Finally, Morgan Stanley raised their price objective on Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Wednesday, September 4th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.50.

Hedge Funds Weigh In On Red Rock Resorts

A number of hedge funds have recently modified their holdings of RRR. Avior Wealth Management LLC raised its holdings in shares of Red Rock Resorts by 3.0% during the third quarter. Avior Wealth Management LLC now owns 7,898 shares of the company’s stock valued at $430,000 after acquiring an additional 232 shares in the last quarter. Truist Financial Corp raised its holdings in Red Rock Resorts by 0.9% in the 2nd quarter. Truist Financial Corp now owns 27,545 shares of the company’s stock worth $1,513,000 after purchasing an additional 241 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Red Rock Resorts by 3.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 8,042 shares of the company’s stock valued at $442,000 after purchasing an additional 292 shares in the last quarter. Arizona State Retirement System increased its position in shares of Red Rock Resorts by 3.3% during the second quarter. Arizona State Retirement System now owns 14,086 shares of the company’s stock valued at $774,000 after buying an additional 444 shares during the period. Finally, WCG Wealth Advisors LLC raised its stake in Red Rock Resorts by 2.5% in the second quarter. WCG Wealth Advisors LLC now owns 18,325 shares of the company’s stock worth $1,007,000 after buying an additional 450 shares in 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.