Red Rock Resorts, Inc. (NASDAQ:RRR) Short Interest Up 20.2% in October

Red Rock Resorts, Inc. (NASDAQ:RRR) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 2,320,000 shares, an increase of 20.2% from the September 30th total of 1,930,000 shares. Based on an average trading volume of 471,900 shares, the days-to-cover ratio is currently 4.9 days. Approximately 4.6% of the company’s stock are sold short.

Insider Activity

In other Red Rock Resorts news, VP Lorenzo J. Fertitta purchased 33,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average cost of $54.49 per share, with a total value of $1,798,170.00. Following the completion of the acquisition, the vice president now directly owns 47,480,301 shares of the company’s stock, valued at $2,587,201,601.49. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Frank J. Fertitta III bought 67,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $49.77 per share, with a total value of $3,334,590.00. Following the transaction, the chief executive officer now directly owns 46,048,301 shares in the company, valued at $2,291,823,940.77. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Lorenzo J. Fertitta purchased 33,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were purchased at an average cost of $54.49 per share, for a total transaction of $1,798,170.00. Following the transaction, the vice president now owns 47,480,301 shares of the company’s stock, valued at $2,587,201,601.49. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 200,000 shares of company stock worth $10,426,000. 53.28% of the stock is currently owned by insiders.

Institutional Trading of Red Rock Resorts

Hedge funds have recently added to or reduced their stakes in the business. Vaughan Nelson Investment Management L.P. grew its position in Red Rock Resorts by 24.9% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 944,340 shares of the company’s stock valued at $56,491,000 after purchasing an additional 188,095 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Red Rock Resorts by 35.5% in the 1st quarter. BNP Paribas Financial Markets now owns 32,080 shares of the company’s stock worth $1,919,000 after acquiring an additional 8,402 shares during the period. FORA Capital LLC boosted its stake in Red Rock Resorts by 16.1% during the first quarter. FORA Capital LLC now owns 10,784 shares of the company’s stock worth $645,000 after buying an additional 1,492 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Red Rock Resorts during the 1st quarter valued at about $236,000. Finally, Lisanti Capital Growth LLC acquired a new position in shares of Red Rock Resorts in the 1st quarter worth approximately $2,260,000. Institutional investors own 47.84% of the company’s stock.

Wall Street Analysts Forecast Growth

RRR has been the topic of a number of research reports. Macquarie raised their price target on Red Rock Resorts from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. increased their target price on Red Rock Resorts from $62.00 to $69.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Stifel Nicolaus lifted their price target on Red Rock Resorts from $59.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Susquehanna boosted their price objective on shares of Red Rock Resorts from $63.00 to $70.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Finally, Barclays boosted their target price on Red Rock Resorts from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.58.

Red Rock Resorts Trading Down 1.8 %

Shares of NASDAQ RRR traded down $0.96 on Wednesday, reaching $53.71. 291,375 shares of the company traded hands, compared to its average volume of 462,274. The stock has a market capitalization of $5.67 billion, a PE ratio of 18.97, a P/E/G ratio of 5.54 and a beta of 2.04. Red Rock Resorts has a fifty-two week low of $37.82 and a fifty-two week high of $63.28. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 15.15. The company has a 50 day moving average of $54.23 and a 200 day moving average of $54.20.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.16. Red Rock Resorts had a return on equity of 83.84% and a net margin of 9.21%. The firm had revenue of $486.40 million during the quarter, compared to the consensus estimate of $475.80 million. During the same period in the prior year, the firm earned $0.65 EPS. The firm’s quarterly revenue was up 16.9% compared to the same quarter last year. On average, equities research analysts forecast that Red Rock Resorts will post 1.63 earnings per share for the current fiscal year.

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.