Red Rock Resorts, Inc. (NASDAQ:RRR) Short Interest Up 37.7% in March

Red Rock Resorts, Inc. (NASDAQ:RRR) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 4,130,000 shares, a growth of 37.7% from the February 28th total of 3,000,000 shares. Based on an average daily volume of 593,000 shares, the days-to-cover ratio is presently 7.0 days. Currently, 8.1% of the shares of the stock are sold short.

Institutional Investors Weigh In On Red Rock Resorts

Several large investors have recently bought and sold shares of the business. Long Pond Capital LP boosted its holdings in shares of Red Rock Resorts by 142.5% during the 4th quarter. Long Pond Capital LP now owns 1,474,153 shares of the company’s stock valued at $68,165,000 after acquiring an additional 866,320 shares during the last quarter. Bamco Inc. NY grew its position in Red Rock Resorts by 6.9% in the 4th quarter. Bamco Inc. NY now owns 11,356,201 shares of the company’s stock worth $525,111,000 after purchasing an additional 732,917 shares during the period. Eminence Capital LP raised its stake in Red Rock Resorts by 36.1% during the 4th quarter. Eminence Capital LP now owns 2,056,588 shares of the company’s stock valued at $95,097,000 after buying an additional 546,047 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Red Rock Resorts by 167.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 422,447 shares of the company’s stock valued at $19,534,000 after buying an additional 264,609 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Red Rock Resorts by 20.6% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,344,058 shares of the company’s stock valued at $62,149,000 after buying an additional 229,843 shares during the period. 47.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. JMP Securities cut their target price on Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating for the company in a research note on Thursday, January 16th. Susquehanna raised their price objective on Red Rock Resorts from $60.00 to $61.00 and gave the company a “positive” rating in a research note on Wednesday, February 12th. Mizuho upped their price target on shares of Red Rock Resorts from $44.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Jefferies Financial Group reissued a “hold” rating and set a $51.00 target price (down from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Finally, Truist Financial reduced their price objective on shares of Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $57.33.

Red Rock Resorts Stock Down 2.9 %

Shares of NASDAQ RRR traded down $1.25 during trading on Tuesday, reaching $42.12. The company had a trading volume of 562,472 shares, compared to its average volume of 541,542. Red Rock Resorts has a 12-month low of $41.46 and a 12-month high of $63.29. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The business’s 50-day moving average is $47.91 and its 200 day moving average is $49.49. The stock has a market cap of $4.47 billion, a PE ratio of 16.78, a P/E/G ratio of 4.32 and a beta of 2.01.

Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. As a group, equities analysts forecast that Red Rock Resorts will post 1.76 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Monday, March 17th. Red Rock Resorts’s payout ratio is currently 39.84%.

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.