Red Rock Resorts (NASDAQ:RRR) Trading Down 3.9% – Time to Sell?

Red Rock Resorts, Inc. (NASDAQ:RRR) fell 3.9% during trading on Thursday . The stock traded as low as $44.40 and last traded at $44.45. 224,786 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 491,138 shares. The stock had previously closed at $46.24.

Wall Street Analysts Forecast Growth

RRR has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price target on shares of Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. Jefferies Financial Group reissued a “hold” rating and issued a $51.00 target price (down from $64.00) on shares of Red Rock Resorts in a research note on Friday. Macquarie lowered their price target on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Barclays dropped 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, Mizuho cut Red Rock Resorts from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $57.00 to $44.00 in a research note on Monday, November 25th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $59.69.

Red Rock Resorts Trading Up 0.4 %

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 firm has a market cap of $4.74 billion, a P/E ratio of 16.63, a P/E/G ratio of 6.69 and a beta of 2.01. The stock has a 50 day simple moving average of $49.69 and a 200-day simple moving average of $53.06.

Red Rock Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.00 annualized dividend and a yield of 2.23%. Red Rock Resorts’s dividend payout ratio (DPR) is currently 37.04%.

Institutional Investors Weigh In On Red Rock Resorts

Several large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in shares of Red Rock Resorts by 18.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 89,197 shares of the company’s stock worth $4,856,000 after acquiring an additional 14,148 shares during the last quarter. 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 stake in shares of Red Rock Resorts by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,171,267 shares of the company’s stock valued at $63,776,000 after buying an additional 14,029 shares during the last quarter. Barclays PLC raised its holdings in shares of Red Rock Resorts by 227.9% in the third quarter. Barclays PLC now owns 78,932 shares of the company’s stock worth $4,297,000 after buying an additional 54,863 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Red Rock Resorts in the third quarter worth approximately $233,000. 47.84% of the stock is owned by 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.