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

Red Rock Resorts, Inc. (NASDAQ:RRR) saw a significant growth in short interest during the month of 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 volume of 489,700 shares, the days-to-cover ratio is currently 5.5 days. Currently, 5.4% of the shares of the company are short sold.

Red Rock Resorts Price Performance

Shares of RRR stock traded up $0.63 on Friday, hitting $50.84. 862,367 shares of the stock traded hands, compared to its average volume of 488,530. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.89. Red Rock Resorts has a 52 week low of $43.08 and a 52 week high of $63.28. The firm has a 50 day simple moving average of $53.15 and a two-hundred day simple moving average of $53.76. The firm 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 declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.97%. Red Rock Resorts’s dividend payout ratio is presently 37.04%.

Hedge Funds Weigh In On Red Rock Resorts

A number of hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in shares of Red Rock Resorts during the first quarter worth $236,000. Headlands Technologies LLC bought a new position in shares of Red Rock Resorts during the 1st quarter valued at about $78,000. ProShare Advisors LLC boosted its holdings in shares of Red Rock Resorts by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 8,559 shares of the company’s stock valued at $512,000 after purchasing an additional 674 shares during the last quarter. HBK Sorce Advisory LLC purchased a new position in shares of Red Rock Resorts during the first quarter valued at about $434,000. Finally, Vanguard Group Inc. increased its holdings in shares of Red Rock Resorts by 4.3% in the first quarter. Vanguard Group Inc. now owns 5,136,942 shares of the company’s stock worth $307,292,000 after purchasing an additional 209,593 shares during the last quarter. Institutional investors own 47.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on RRR shares. Mizuho reaffirmed an “outperform” rating and issued a $57.00 price objective (down previously from $67.00) on shares of Red Rock Resorts in a report on Tuesday. Macquarie reduced their price target on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. JMP Securities reissued a “market outperform” rating and issued a $65.00 price objective on shares of Red Rock Resorts in a report on Monday, October 14th. Susquehanna upped their target price on shares of Red Rock Resorts from $63.00 to $70.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. Finally, Truist Financial dropped their price target on shares of Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating on the stock in a research note on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.50.

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.