Red Rock Resorts, Inc. (NASDAQ:RRR) Sees Significant Increase in Short Interest

Red Rock Resorts, Inc. (NASDAQ:RRR) was the recipient of a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 2,790,000 shares, a growth of 21.3% from the January 31st total of 2,300,000 shares. Approximately 5.5% of the company’s stock are short sold. Based on an average daily trading volume, of 587,200 shares, the short-interest ratio is currently 4.8 days.

Wall Street Analysts Forecast Growth

RRR has been the topic of several research reports. JMP Securities dropped their price target on Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating on the stock in a research report on Thursday, January 16th. Jefferies Financial Group restated a “hold” rating and issued a $51.00 price target (down from $64.00) on shares of Red Rock Resorts in a research report on Friday, January 3rd. Stifel Nicolaus lifted their price target on shares of Red Rock Resorts from $50.00 to $54.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. Barclays dropped their price objective on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Finally, Truist Financial cut their price target on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Red Rock Resorts presently has a consensus rating of “Hold” and an average target price of $57.33.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Jefferies Financial Group Inc. bought a new position in Red Rock Resorts during the fourth quarter worth $1,826,000. Voloridge Investment Management LLC increased its holdings in shares of Red Rock Resorts by 63.4% during the 4th quarter. Voloridge Investment Management LLC now owns 229,792 shares of the company’s stock worth $10,626,000 after purchasing an additional 89,169 shares during the period. ProShare Advisors LLC raised its position in shares of Red Rock Resorts by 49.1% during the fourth quarter. ProShare Advisors LLC now owns 13,855 shares of the company’s stock valued at $641,000 after buying an additional 4,560 shares during the last quarter. Malaga Cove Capital LLC raised its position in shares of Red Rock Resorts by 46.8% during the fourth quarter. Malaga Cove Capital LLC now owns 13,377 shares of the company’s stock valued at $619,000 after buying an additional 4,263 shares during the last quarter. Finally, Occudo Quantitative Strategies LP bought a new stake in shares of Red Rock Resorts in the fourth quarter valued at about $269,000. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Red Rock Resorts Stock Down 1.2 %

Red Rock Resorts stock traded down $0.56 during mid-day trading on Thursday, hitting $47.32. The company’s stock had a trading volume of 23,138 shares, compared to its average volume of 609,722. The firm’s 50 day moving average is $48.21 and its 200 day moving average is $50.97. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. The company has a market cap of $5.02 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 4.32 and a beta of 2.01. 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 quarterly 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 return on equity of 71.00% and a net margin of 7.94%. On average, analysts anticipate that Red Rock Resorts will post 1.76 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Monday, March 17th. Red Rock Resorts’s dividend payout ratio (DPR) is currently 39.84%.

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.