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

Red Rock Resorts, Inc. (NASDAQ:RRR) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 4,130,000 shares, an increase of 37.7% from the February 28th total of 3,000,000 shares. Based on an average daily volume of 593,000 shares, the days-to-cover ratio is currently 7.0 days. Approximately 8.1% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

RRR has been the subject of a number of recent research reports. Susquehanna upped their price objective on shares of Red Rock Resorts from $60.00 to $61.00 and gave the stock a “positive” rating in a report on Wednesday, February 12th. Truist Financial lowered their price objective on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Stifel Nicolaus boosted their target price on Red Rock Resorts from $50.00 to $54.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. Jefferies Financial Group reiterated a “hold” rating and set a $51.00 price target (down previously from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. Finally, JMP Securities reduced their price objective on shares of Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating for the company in a research note on Thursday, January 16th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $57.33.

Hedge Funds Weigh In On Red Rock Resorts

Hedge funds have recently modified their holdings of the stock. Sterling Capital Management LLC increased its holdings in shares of Red Rock Resorts by 654.7% during the fourth quarter. Sterling Capital Management LLC now owns 883 shares of the company’s stock worth $41,000 after buying an additional 766 shares in the last quarter. Quarry LP increased its holdings in Red Rock Resorts by 479.4% during the 3rd quarter. Quarry LP now owns 1,124 shares of the company’s stock valued at $61,000 after purchasing an additional 930 shares in the last quarter. KBC Group NV raised its position in Red Rock Resorts by 37.1% in the 4th quarter. KBC Group NV now owns 1,996 shares of the company’s stock valued at $92,000 after purchasing an additional 540 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Red Rock Resorts by 47.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company’s stock worth $95,000 after purchasing an additional 664 shares in the last quarter. Finally, Mayfair Advisory Group LLC grew its holdings in shares of Red Rock Resorts by 15.1% during the fourth quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock worth $208,000 after purchasing an additional 591 shares during the last quarter. 47.84% of the stock is owned by institutional investors and hedge funds.

Red Rock Resorts Stock Down 2.9 %

RRR stock opened at $42.12 on Wednesday. Red Rock Resorts has a twelve month low of $41.46 and a twelve month high of $63.29. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The company has a market cap of $4.47 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 4.32 and a beta of 2.01. The business’s 50-day simple moving average is $47.81 and its 200 day simple moving average is $49.41.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. On average, research analysts anticipate that Red Rock Resorts will post 1.76 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend was Monday, March 17th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 39.84%.

About Red Rock Resorts

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.