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

Red Rock Resorts, Inc. (NASDAQ:RRR) saw a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 2,790,000 shares, an increase of 21.3% from the January 31st total of 2,300,000 shares. Approximately 5.5% of the shares of the company are short sold. Based on an average daily trading volume, of 587,200 shares, the days-to-cover ratio is currently 4.8 days.

Hedge Funds Weigh In On Red Rock Resorts

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sterling Capital Management LLC boosted its holdings in Red Rock Resorts by 654.7% during the 4th quarter. Sterling Capital Management LLC now owns 883 shares of the company’s stock valued at $41,000 after acquiring an additional 766 shares during the period. Quarry LP boosted its stake in shares of Red Rock Resorts by 479.4% in the 3rd quarter. Quarry LP now owns 1,124 shares of the company’s stock valued at $61,000 after buying an additional 930 shares during the period. US Bancorp DE boosted its stake in shares of Red Rock Resorts by 2,223.9% in the 3rd quarter. US Bancorp DE now owns 1,557 shares of the company’s stock valued at $85,000 after buying an additional 1,490 shares during the period. KBC Group NV lifted its stake in Red Rock Resorts by 37.1% during the fourth quarter. KBC Group NV now owns 1,996 shares of the company’s stock worth $92,000 after purchasing an additional 540 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Red Rock Resorts by 47.7% during 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 during the last quarter. 47.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on RRR shares. Truist Financial cut their price target on shares of Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Mizuho upped their price objective on Red Rock Resorts from $44.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. JMP Securities lowered their price objective on Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating on the stock in a research report on Thursday, January 16th. Susquehanna upped their price objective on Red Rock Resorts from $60.00 to $61.00 and gave the stock a “positive” rating in a research report on Wednesday, February 12th. Finally, Barclays decreased their target price on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Red Rock Resorts presently has an average rating of “Hold” and a consensus price target of $57.33.

Red Rock Resorts Stock Down 1.7 %

Shares of NASDAQ:RRR opened at $47.07 on Friday. The business has a 50-day moving average price of $48.21 and a 200 day moving average price of $50.97. 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 company has a market capitalization of $4.99 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 4.32 and a beta of 2.01. Red Rock Resorts has a 12-month low of $42.46 and a 12-month high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. Sell-side analysts expect that Red Rock Resorts will post 1.76 EPS for the current year.

Red Rock Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Monday, March 17th. Red Rock Resorts’s dividend payout ratio (DPR) is 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.