Red Rock Resorts (NASDAQ:RRR) Stock Price Down 3.9% – What’s Next?

Red Rock Resorts, Inc. (NASDAQ:RRRGet Free Report) shares traded down 3.9% during mid-day trading on Thursday . The company traded as low as $44.40 and last traded at $44.45. 224,786 shares traded hands during trading, a decline of 54% from the average session volume of 491,138 shares. The stock had previously closed at $46.24.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RRR. Morgan Stanley raised their price objective on Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. JMP Securities restated a “market outperform” rating and set a $65.00 price objective on shares of Red Rock Resorts in a research note on Monday, October 14th. 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 research report on Friday, November 8th. Barclays cut their price objective 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. Finally, Truist Financial dropped their price target on Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.42.

Read Our Latest Analysis on Red Rock Resorts

Red Rock Resorts Stock Down 3.2 %

The firm has a 50 day moving average of $49.98 and a two-hundred day moving average of $53.17. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of 16.57, a price-to-earnings-growth ratio of 6.69 and a beta of 2.01. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28.

Red Rock Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.24%. The ex-dividend date was Monday, December 16th. Red Rock Resorts’s dividend payout ratio (DPR) is currently 37.04%.

Hedge Funds Weigh In On Red Rock Resorts

Hedge funds and other institutional investors have recently bought and sold shares of the company. Avior Wealth Management LLC increased its position in shares of 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 acquiring an additional 232 shares in the last quarter. Truist Financial Corp boosted its holdings in Red Rock Resorts by 0.9% during the 2nd quarter. Truist Financial Corp now owns 27,545 shares of the company’s stock worth $1,513,000 after acquiring an additional 241 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Red Rock Resorts by 3.3% in the second quarter. Arizona State Retirement System now owns 14,086 shares of the company’s stock valued at $774,000 after purchasing an additional 444 shares during the last quarter. WCG Wealth Advisors LLC raised its holdings in shares of Red Rock Resorts by 2.5% in the second quarter. WCG Wealth Advisors LLC now owns 18,325 shares of the company’s stock valued at $1,007,000 after purchasing an additional 450 shares during the last quarter. Finally, King Luther Capital Management Corp lifted its position in shares of Red Rock Resorts by 1.2% during the third quarter. King Luther Capital Management Corp now owns 64,043 shares of the company’s stock valued at $3,487,000 after purchasing an additional 765 shares in the last quarter. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Company Profile

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for Red Rock Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Rock Resorts and related companies with MarketBeat.com's FREE daily email newsletter.