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

Red Rock Resorts, Inc. (NASDAQ:RRR) was the recipient of a significant decrease in short interest in 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. Based on an average trading volume of 600,400 shares, the days-to-cover ratio is presently 3.7 days. Approximately 4.5% of the shares of the company are short sold.

Red Rock Resorts Price Performance

NASDAQ:RRR traded down $0.46 during trading hours on Friday, hitting $49.49. 419,445 shares of the stock were exchanged, compared to its average volume of 494,286. The firm’s fifty day moving average price is $51.51 and its 200 day moving average price is $53.55. Red Rock Resorts has a 52-week low of $47.18 and a 52-week high of $63.28. The company has a market cap of $5.23 billion, a P/E ratio of 18.33, a P/E/G ratio of 6.72 and a beta of 2.00. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28.

Red Rock Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.25 dividend. 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 2.02%. Red Rock Resorts’s payout ratio is currently 37.04%.

Institutional Investors Weigh In On Red Rock Resorts

A number of large investors have recently modified their holdings of RRR. Avior Wealth Management LLC boosted its stake in Red Rock Resorts by 3.0% during the third quarter. Avior Wealth Management LLC now owns 7,898 shares of the company’s stock worth $430,000 after buying an additional 232 shares during the last quarter. Truist Financial Corp boosted its position in shares of Red Rock Resorts by 0.9% during the 2nd quarter. Truist Financial Corp now owns 27,545 shares of the company’s stock valued at $1,513,000 after acquiring an additional 241 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Red Rock Resorts by 3.8% in the second quarter. Sequoia Financial Advisors LLC now owns 8,042 shares of the company’s stock valued at $442,000 after purchasing an additional 292 shares during the period. Arizona State Retirement System increased its position in Red Rock Resorts by 3.3% during the second quarter. Arizona State Retirement System now owns 14,086 shares of the company’s stock worth $774,000 after purchasing an additional 444 shares during the last quarter. Finally, WCG Wealth Advisors LLC raised its stake in Red Rock Resorts by 2.5% during the second quarter. WCG Wealth Advisors LLC now owns 18,325 shares of the company’s stock worth $1,007,000 after purchasing an additional 450 shares during the period. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Truist Financial cut their price target on Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. Barclays dropped 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. Morgan Stanley upped their price objective on Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 4th. Macquarie cut their target price on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, JMP Securities reissued a “market outperform” rating and set a $65.00 price target on shares of Red Rock Resorts in a report on Monday, October 14th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.