Short Interest in Red Rock Resorts, Inc. (NASDAQ:RRR) Declines By 21.1%

Red Rock Resorts, Inc. (NASDAQ:RRR) saw a significant decrease in short interest in November. As of November 30th, there was short interest totalling 2,250,000 shares, a decrease of 21.1% from the November 15th total of 2,850,000 shares. Based on an average trading volume of 600,400 shares, the days-to-cover ratio is currently 3.7 days. Currently, 4.5% of the company’s shares are short sold.

Red Rock Resorts Stock Down 1.4 %

NASDAQ:RRR traded down $0.68 on Monday, reaching $48.81. 384,023 shares of the stock traded hands, compared to its average volume of 493,831. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 6.69 and a beta of 2.00. Red Rock Resorts has a 12 month low of $47.18 and a 12 month high of $63.28. The company’s fifty day simple moving average is $51.51 and its 200 day simple moving average is $53.61.

Red Rock Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 2.05%. Red Rock Resorts’s payout ratio is currently 37.04%.

Analyst Ratings Changes

RRR has been the topic of a number of research reports. Mizuho lowered shares of Red Rock Resorts from an “outperform” rating to a “neutral” rating and cut their target price for the company from $57.00 to $44.00 in a research note on Monday, November 25th. Morgan Stanley lifted their price objective on Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 4th. Macquarie reduced their target price on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Truist Financial lowered their target price on 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. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $65.00 price target on shares of Red Rock Resorts in a research note on Monday, October 14th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.42.

Institutional Trading of Red Rock Resorts

Institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new position in shares of Red Rock Resorts during the third quarter valued at approximately $345,000. Geode Capital Management LLC grew its position in Red Rock Resorts by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,171,267 shares of the company’s stock worth $63,776,000 after purchasing an additional 14,029 shares during the period. Barclays PLC raised its stake in Red Rock Resorts by 227.9% during the 3rd quarter. Barclays PLC now owns 78,932 shares of the company’s stock valued at $4,297,000 after buying an additional 54,863 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Red Rock Resorts during the 3rd quarter valued at $233,000. Finally, Wellington Management Group LLP boosted its stake in shares of Red Rock Resorts by 239.0% in the 3rd quarter. Wellington Management Group LLP now owns 185,018 shares of the company’s stock worth $10,072,000 after buying an additional 130,434 shares during the last quarter. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

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.