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

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

Red Rock Resorts Price Performance

NASDAQ RRR traded down $0.68 on Monday, hitting $48.81. The stock had a trading volume of 384,023 shares, compared to its average volume of 493,831. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02. Red Rock Resorts has a 52-week low of $47.18 and a 52-week high of $63.28. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 6.69 and a beta of 2.00. The firm has a 50-day moving average of $51.51 and a 200-day moving average of $53.61.

Red Rock Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Monday, December 16th. Red Rock Resorts’s dividend payout ratio (DPR) is currently 37.04%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC boosted its stake in Red Rock Resorts by 3.8% in the second quarter. Sequoia Financial Advisors LLC now owns 8,042 shares of the company’s stock worth $442,000 after buying an additional 292 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Red Rock Resorts by 26.7% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company’s stock valued at $65,706,000 after purchasing an additional 251,855 shares in the last quarter. Institute for Wealth Management LLC. grew its holdings in shares of Red Rock Resorts by 57.8% during the 2nd quarter. Institute for Wealth Management LLC. now owns 11,804 shares of the company’s stock valued at $648,000 after purchasing an additional 4,322 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Red Rock Resorts by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 404,153 shares of the company’s stock valued at $22,200,000 after purchasing an additional 24,992 shares during the last quarter. Finally, Legato Capital Management LLC raised its position in Red Rock Resorts by 139.9% in the 2nd quarter. Legato Capital Management LLC now owns 12,868 shares of the company’s stock worth $707,000 after purchasing an additional 7,503 shares during the period. Institutional investors own 47.84% of the company’s stock.

Analysts Set New Price Targets

RRR has been the topic of several analyst reports. Morgan Stanley upped their target price on Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Wednesday, September 4th. Truist Financial reduced 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 note on Wednesday, October 23rd. JMP Securities reissued a “market outperform” rating and set a $65.00 target price on shares of Red Rock Resorts in a research note on Monday, October 14th. Wells Fargo & Company cut their price target on shares of 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. Finally, Mizuho downgraded Red Rock Resorts from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $57.00 to $44.00 in a report on Monday, November 25th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Red Rock Resorts currently has an average rating of “Moderate Buy” and a consensus price target of $60.42.

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.