Red Rock Resorts, Inc. (NASDAQ:RRR) Short Interest Up 16.8% in October

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

Red Rock Resorts Stock Performance

Red Rock Resorts stock traded up $0.63 during mid-day trading on Friday, reaching $50.84. 862,367 shares of the stock traded hands, compared to its average volume of 488,530. The stock has a market capitalization of $5.37 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 6.38 and a beta of 2.04. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.89. The business’s 50-day moving average is $53.15 and its 200-day moving average is $53.76. Red Rock Resorts has a 12-month low of $43.08 and a 12-month high of $63.28.

Red Rock Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Monday, December 16th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 37.04%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Truist Financial cut their price objective on shares of Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. JMP Securities restated a “market outperform” rating and issued a $65.00 price objective on shares of Red Rock Resorts in a report on Monday, October 14th. Wells Fargo & Company lowered their price objective on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. Barclays reduced their target price 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, Susquehanna upped their price target on Red Rock Resorts from $63.00 to $70.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $61.50.

Institutional Trading of Red Rock Resorts

Several large investors have recently added to or reduced their stakes in RRR. Edgestream Partners L.P. bought a new stake in Red Rock Resorts during the first quarter valued at about $1,238,000. Nicholas Investment Partners LP bought a new position in shares of Red Rock Resorts during the 2nd quarter valued at approximately $5,336,000. Seven Eight Capital LP increased its holdings in Red Rock Resorts by 477.5% in the 2nd quarter. Seven Eight Capital LP now owns 28,914 shares of the company’s stock worth $1,588,000 after acquiring an additional 23,907 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in Red Rock Resorts by 26.7% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company’s stock worth $65,706,000 after acquiring an additional 251,855 shares during the period. Finally, Versor Investments LP purchased a new position in Red Rock Resorts during the second quarter valued at approximately $588,000. 47.84% of the stock is currently owned by institutional investors.

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.