Union Gaming Research Lowers Red Rock Resorts (NASDAQ:RRR) to Hold

Union Gaming Research downgraded shares of Red Rock Resorts (NASDAQ:RRR) from a buy rating to a hold rating in a research report sent to investors on Thursday, November 9th. Union Gaming Research currently has $27.00 price target on the stock, down from their prior price target of $28.00.

A number of other analysts have also recently commented on the stock. Deutsche Bank boosted their price target on shares of Red Rock Resorts from $25.00 to $28.00 and gave the stock a buy rating in a research report on Wednesday, November 8th. ValuEngine upgraded shares of Red Rock Resorts from a hold rating to a buy rating in a research report on Friday, September 8th. Bank of America boosted their target price on shares of Red Rock Resorts from $26.00 to $30.00 and gave the company a buy rating in a report on Wednesday, November 8th. BidaskClub upgraded shares of Red Rock Resorts from a strong sell rating to a sell rating in a report on Friday, September 22nd. Finally, Zacks Investment Research lowered shares of Red Rock Resorts from a hold rating to a strong sell rating in a report on Friday, August 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. Red Rock Resorts presently has a consensus rating of Buy and an average target price of $28.50.

Shares of Red Rock Resorts (NASDAQ:RRR) opened at $30.59 on Thursday. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 4.41. Red Rock Resorts has a one year low of $20.87 and a one year high of $30.86. The company has a market cap of $3,350.70, a price-to-earnings ratio of 20.46, a PEG ratio of 16.90 and a beta of 0.80.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Wednesday, November 15th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Tuesday, November 14th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 90.91%.

Several hedge funds have recently added to or reduced their stakes in the company. California Public Employees Retirement System increased its holdings in Red Rock Resorts by 139.4% during the 3rd quarter. California Public Employees Retirement System now owns 21,550 shares of the company’s stock valued at $499,000 after acquiring an additional 12,550 shares in the last quarter. Bamco Inc. NY grew its holdings in shares of Red Rock Resorts by 28.0% during the third quarter. Bamco Inc. NY now owns 7,095,981 shares of the company’s stock worth $164,343,000 after buying an additional 1,550,892 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of Red Rock Resorts by 302.0% during the third quarter. Cubist Systematic Strategies LLC now owns 5,801 shares of the company’s stock worth $134,000 after buying an additional 4,358 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Red Rock Resorts by 46.8% during the third quarter. Point72 Asset Management L.P. now owns 4,285,300 shares of the company’s stock worth $99,248,000 after buying an additional 1,366,300 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Red Rock Resorts during the third quarter worth about $306,000. Institutional investors own 64.35% of the company’s stock.

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Red Rock Resorts Company Profile

Red Rock Resorts, Inc is a gaming, development and management company. The Company’s segments include Las Vegas operations, Native American management, and Corporate and other. The Las Vegas operations segment includes all of its Las Vegas area casino properties and the Native American management segment includes its Native American management arrangements.

Analyst Recommendations for Red Rock Resorts (NASDAQ:RRR)

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