Short Interest in Red Rock Resorts, Inc. (NASDAQ:RRR) Increases By 31.4%

Red Rock Resorts, Inc. (NASDAQ:RRR) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 2,300,000 shares, an increase of 31.4% from the January 15th total of 1,750,000 shares. Approximately 4.6% of the company’s stock are sold short. Based on an average trading volume of 650,000 shares, the short-interest ratio is currently 3.5 days.

Analysts Set New Price Targets

A number of research analysts recently issued reports on RRR shares. Barclays lowered their price target on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Macquarie decreased 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. Susquehanna lifted their target price on shares of Red Rock Resorts from $60.00 to $61.00 and gave the stock a “positive” rating in a report on Wednesday. Stifel Nicolaus lifted their target price on shares of Red Rock Resorts from $50.00 to $54.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $51.00 target price (down from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $57.33.

Red Rock Resorts Stock Performance

NASDAQ RRR traded up $0.69 during trading hours on Friday, hitting $52.79. 620,794 shares of the company’s stock traded hands, compared to its average volume of 573,413. The business’s fifty day moving average price is $47.44 and its two-hundred day moving average price is $51.28. 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 firm has a market capitalization of $5.58 billion, a P/E ratio of 19.55, a P/E/G ratio of 5.28 and a beta of 2.02. Red Rock Resorts has a 52 week low of $42.46 and a 52 week high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a net margin of 8.59% and a return on equity of 73.20%. Equities research analysts predict that Red Rock Resorts will post 1.44 EPS for the current year.

Red Rock Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.89%. Red Rock Resorts’s payout ratio is currently 37.04%.

Hedge Funds Weigh In On Red Rock Resorts

Hedge funds have recently modified their holdings of the company. Sterling Capital Management LLC lifted its position in Red Rock Resorts by 654.7% during the fourth quarter. Sterling Capital Management LLC now owns 883 shares of the company’s stock valued at $41,000 after purchasing an additional 766 shares during the last quarter. Quarry LP lifted its holdings in Red Rock Resorts by 479.4% during the 3rd quarter. Quarry LP now owns 1,124 shares of the company’s stock valued at $61,000 after buying an additional 930 shares in the last quarter. US Bancorp DE lifted its holdings in Red Rock Resorts by 2,223.9% during the 3rd quarter. US Bancorp DE now owns 1,557 shares of the company’s stock valued at $85,000 after buying an additional 1,490 shares in the last quarter. KBC Group NV lifted its holdings in 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 buying an additional 540 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Red Rock Resorts by 47.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company’s stock valued at $95,000 after purchasing an additional 664 shares in the last quarter. 47.84% of the stock is currently owned by institutional investors.

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.