Red Rock Resorts (NASDAQ:RRR) Reaches New 1-Year Low – Should You Sell?

Red Rock Resorts, Inc. (NASDAQ:RRR) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $42.61 and last traded at $43.10, with a volume of 23451 shares traded. The stock had previously closed at $43.94.

Analysts Set New Price Targets

RRR has been the subject of a number of recent analyst reports. Jefferies Financial Group reaffirmed 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. Wells Fargo & Company dropped their price objective on shares of Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. JMP Securities restated a “market outperform” rating and set a $65.00 price objective on shares of Red Rock Resorts in a report on Monday, October 14th. Truist Financial reduced their price objective on shares of Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. Finally, Mizuho downgraded Red Rock Resorts from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $57.00 to $44.00 in a research note on Monday, November 25th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Red Rock Resorts has a consensus rating of “Hold” and a consensus target price of $59.69.

Red Rock Resorts Stock Down 2.4 %

The firm has a market cap of $4.53 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 6.69 and a beta of 2.01. 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 stock has a fifty day simple moving average of $48.99 and a two-hundred day simple moving average of $52.85.

Red Rock Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Monday, December 16th. Red Rock Resorts’s dividend payout ratio is presently 37.04%.

Hedge Funds Weigh In On Red Rock Resorts

A number of institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in shares of Red Rock Resorts by 18.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 89,197 shares of the company’s stock valued at $4,856,000 after purchasing an additional 14,148 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Red Rock Resorts in the 3rd quarter worth approximately $345,000. Geode Capital Management LLC lifted its stake in shares of 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 valued at $63,776,000 after purchasing an additional 14,029 shares during the period. Barclays PLC boosted its position in shares of Red Rock Resorts by 227.9% during the third quarter. Barclays PLC now owns 78,932 shares of the company’s stock valued at $4,297,000 after purchasing an additional 54,863 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Red Rock Resorts in the third quarter worth $233,000. 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.