Red Rock Resorts (NASDAQ:RRR) Sees Unusually-High Trading Volume – Should You Buy?

Red Rock Resorts, Inc. (NASDAQ:RRR) shares saw unusually-strong trading volume on Thursday . Approximately 1,381,775 shares changed hands during trading, an increase of 186% from the previous session’s volume of 483,586 shares.The stock last traded at $50.10 and had previously closed at $51.28.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RRR shares. Wells Fargo & Company dropped their price target on 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. Truist Financial dropped their target price 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. JPMorgan Chase & Co. increased their target price on Red Rock Resorts from $62.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. JMP Securities reaffirmed a “market outperform” rating and issued a $65.00 target price on shares of Red Rock Resorts in a research report on Monday, October 14th. Finally, Barclays decreased 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. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Red Rock Resorts has a consensus rating of “Moderate Buy” and a consensus target price of $61.50.

Red Rock Resorts Price Performance

The company has a market capitalization of $5.37 billion, a PE ratio of 18.83, a P/E/G ratio of 6.38 and a beta of 2.04. The stock has a 50 day moving average price of $53.15 and a two-hundred day moving average price of $53.75. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.89 and a current ratio of 1.02.

Red Rock Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued 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 payout ratio is presently 37.04%.

Institutional Trading of Red Rock Resorts

Several institutional investors have recently modified their holdings of RRR. Geode Capital Management LLC lifted its position in shares of Red Rock Resorts by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,171,267 shares of the company’s stock worth $63,776,000 after buying an additional 14,029 shares during the period. Barclays PLC grew its stake in shares of Red Rock Resorts by 227.9% during the third quarter. Barclays PLC now owns 78,932 shares of the company’s stock worth $4,297,000 after purchasing an additional 54,863 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Red Rock Resorts in the third quarter valued at about $233,000. Wellington Management Group LLP lifted its holdings in shares of Red Rock Resorts by 239.0% in the third quarter. Wellington Management Group LLP now owns 185,018 shares of the company’s stock valued at $10,072,000 after purchasing an additional 130,434 shares in the last quarter. Finally, Quarry LP lifted its holdings in shares of Red Rock Resorts by 479.4% in the third quarter. Quarry LP now owns 1,124 shares of the company’s stock valued at $61,000 after purchasing an additional 930 shares in the last quarter. Institutional investors and hedge funds own 47.84% of the company’s stock.

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.