Short Interest in Red Rock Resorts, Inc. (NASDAQ:RRR) Drops By 21.1%

Red Rock Resorts, Inc. (NASDAQ:RRR) saw a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 2,250,000 shares, a decrease of 21.1% from the November 15th total of 2,850,000 shares. Approximately 4.5% of the shares of the stock are sold short. Based on an average daily volume of 600,400 shares, the short-interest ratio is currently 3.7 days.

Red Rock Resorts Stock Down 0.9 %

Shares of NASDAQ:RRR traded down $0.46 during mid-day trading on Friday, reaching $49.49. 419,445 shares of the stock were exchanged, compared to its average volume of 555,658. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The company has a market cap of $5.23 billion, a P/E ratio of 18.33, a P/E/G ratio of 6.69 and a beta of 2.00. Red Rock Resorts has a one year low of $47.18 and a one year high of $63.28. The stock’s 50 day simple moving average is $51.51 and its 200-day simple moving average is $53.61.

Red Rock Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.02%. Red Rock Resorts’s payout ratio is presently 37.04%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP bought a new position in shares of Red Rock Resorts during the third quarter worth about $842,000. Westfield Capital Management Co. LP grew its stake in Red Rock Resorts by 3.5% in the third quarter. Westfield Capital Management Co. LP now owns 1,134,509 shares of the company’s stock valued at $61,763,000 after purchasing an additional 38,443 shares in the last quarter. Nicholas Investment Partners LP bought a new position in Red Rock Resorts in the second quarter valued at approximately $5,336,000. Seven Eight Capital LP grew its stake in Red Rock Resorts by 477.5% in the second quarter. Seven Eight Capital LP now owns 28,914 shares of the company’s stock valued at $1,588,000 after purchasing an additional 23,907 shares in the last quarter. Finally, Versor Investments LP bought a new position in Red Rock Resorts in the second quarter valued at approximately $588,000. 47.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on RRR shares. Wells Fargo & Company decreased their target price on 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. 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 report on Friday, November 8th. JMP Securities reiterated a “market outperform” rating and issued a $65.00 price target on shares of Red Rock Resorts in a report on Monday, October 14th. Macquarie decreased their price target on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Finally, Morgan Stanley raised their price target 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. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $60.42.

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.