Red Rock Resorts, Inc. (NASDAQ:RRR – Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $51.27 and traded as high as $62.02. Red Rock Resorts shares last traded at $61.73, with a volume of 607,338 shares.
Analyst Ratings Changes
RRR has been the topic of several recent research reports. Stifel Nicolaus set a $60.00 price target on Red Rock Resorts and gave the stock a “hold” rating in a report on Wednesday, July 30th. Mizuho increased their price objective on Red Rock Resorts from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Truist Financial upgraded Red Rock Resorts from a “hold” rating to a “buy” rating and increased their price objective for the company from $45.00 to $67.00 in a report on Wednesday, July 16th. Morgan Stanley increased their price objective on Red Rock Resorts from $49.00 to $53.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Finally, JMP Securities increased their price objective on Red Rock Resorts from $64.00 to $65.00 and gave the company a “market outperform” rating in a report on Tuesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Red Rock Resorts has a consensus rating of “Moderate Buy” and an average target price of $60.82.
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Red Rock Resorts Stock Up 2.9%
The business has a 50 day moving average of $59.72 and a 200-day moving average of $51.27. The stock has a market cap of $6.51 billion, a PE ratio of 21.00, a P/E/G ratio of 2.42 and a beta of 1.46. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 11.28.
Red Rock Resorts (NASDAQ:RRR – Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.55. The firm had revenue of $526.27 million for the quarter, compared to the consensus estimate of $485.44 million. Red Rock Resorts had a return on equity of 59.97% and a net margin of 8.89%.The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 EPS. Equities research analysts predict that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.
Red Rock Resorts Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Monday, September 15th. Red Rock Resorts’s dividend payout ratio (DPR) is currently 34.01%.
Insider Buying and Selling
In related news, EVP Jeffrey T. Welch sold 56,653 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $60.23, for a total transaction of $3,412,210.19. Following the transaction, the executive vice president owned 314,767 shares in the company, valued at $18,958,416.41. This trade represents a 15.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Kord Nichols sold 42,325 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $58.61, for a total value of $2,480,668.25. Following the sale, the chief operating officer directly owned 129,361 shares of the company’s stock, valued at $7,581,848.21. The trade was a 24.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 262,703 shares of company stock worth $15,764,672 in the last quarter. 53.81% of the stock is owned by insiders.
Institutional Trading of Red Rock Resorts
Hedge funds have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Red Rock Resorts by 230.5% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552 shares of the company’s stock worth $29,000 after acquiring an additional 385 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Red Rock Resorts during the 2nd quarter worth approximately $42,000. Pandora Wealth Inc. acquired a new stake in Red Rock Resorts during the 1st quarter worth approximately $43,000. US Bancorp DE lifted its position in Red Rock Resorts by 1,664.4% during the 1st quarter. US Bancorp DE now owns 1,041 shares of the company’s stock worth $45,000 after acquiring an additional 982 shares during the period. Finally, Atlantic Union Bankshares Corp acquired a new stake in Red Rock Resorts during the 2nd quarter worth approximately $62,000. 47.84% of the stock is owned by institutional investors and hedge funds.
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.
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