Red Rock Resorts (NASDAQ:RRR) Hits New 12-Month Low – Should You Sell?

Red Rock Resorts, Inc. (NASDAQ:RRR)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $42.44 and last traded at $42.44, with a volume of 400006 shares changing hands. The stock had previously closed at $44.47.

Analysts Set New Price Targets

RRR has been the subject of several recent research reports. Mizuho boosted their price objective on Red Rock Resorts from $44.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Truist Financial decreased their price target on shares of Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. Stifel Nicolaus raised their price objective on shares of Red Rock Resorts from $50.00 to $54.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Susquehanna boosted their target price on shares of 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, JMP Securities dropped their price target on shares of 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. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $57.33.

Red Rock Resorts Stock Down 3.3 %

The stock’s fifty day moving average is $48.10 and its two-hundred day moving average is $50.60. 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 $4.53 billion, a PE ratio of 17.01, a P/E/G ratio of 4.32 and a beta of 2.01.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. As a group, analysts predict that Red Rock Resorts, Inc. will post 1.76 EPS for the current year.

Red Rock Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Monday, March 17th. Red Rock Resorts’s payout ratio is currently 39.84%.

Institutional Inflows and Outflows

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

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.