Red Rock Resorts, Inc. (NASDAQ:RRR) Short Interest Up 16.8% in October

Red Rock Resorts, Inc. (NASDAQ:RRR) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 2,710,000 shares, a growth of 16.8% from the October 15th total of 2,320,000 shares. Based on an average daily trading volume, of 489,700 shares, the short-interest ratio is presently 5.5 days. Approximately 5.4% of the shares of the stock are sold short.

Analyst Ratings Changes

Several equities analysts have recently commented on RRR shares. Mizuho restated an “outperform” rating and issued a $57.00 price objective (down from $67.00) on shares of Red Rock Resorts in a research report on Tuesday. Macquarie lowered 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. Barclays dropped their price target on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Wells Fargo & Company reduced their price objective 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, JMP Securities restated a “market outperform” rating and set a $65.00 target price on shares of Red Rock Resorts in a research report on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Red Rock Resorts has an average rating of “Moderate Buy” and a consensus price target of $61.50.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Covestor Ltd lifted its position in Red Rock Resorts by 16,666.7% in the first quarter. Covestor Ltd now owns 503 shares of the company’s stock worth $30,000 after buying an additional 500 shares during the last quarter. Quarry LP boosted its stake in shares of Red Rock Resorts by 479.4% during the 3rd quarter. Quarry LP now owns 1,124 shares of the company’s stock worth $61,000 after purchasing an additional 930 shares during the period. Headlands Technologies LLC bought a new position in Red Rock Resorts during the 1st quarter valued at about $78,000. US Bancorp DE raised its position 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 worth $85,000 after purchasing an additional 1,490 shares during the period. Finally, Point72 DIFC Ltd bought a new stake in Red Rock Resorts in the second quarter worth about $98,000. Institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Price Performance

Red Rock Resorts stock traded up $0.63 during mid-day trading on Friday, reaching $50.84. 862,367 shares of the company’s stock traded hands, compared to its average volume of 488,530. Red Rock Resorts has a 12-month low of $43.08 and a 12-month high of $63.28. The company has a quick ratio of 0.89, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The stock has a 50 day moving average of $53.15 and a two-hundred day moving average of $53.76. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 6.38 and a beta of 2.04.

Red Rock Resorts Announces Dividend

The firm also recently announced 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 1.97%. The ex-dividend date is Monday, December 16th. Red Rock Resorts’s dividend payout ratio is 37.04%.

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.