Red Rock Resorts (NASDAQ:RRR) Downgraded by Mizuho to Neutral

Mizuho downgraded shares of Red Rock Resorts (NASDAQ:RRR) from an outperform rating to a neutral rating in a research note issued to investors on Monday, MarketBeat Ratings reports. They currently have $44.00 price objective on the stock, down from their prior price objective of $57.00.

A number of other analysts have also commented on the company. Morgan Stanley boosted their target price on Red Rock Resorts from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 4th. Barclays decreased their price objective on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, November 8th. JMP Securities reissued a “market outperform” rating and set a $65.00 price objective on shares of Red Rock Resorts in a report on Monday, October 14th. Truist Financial decreased their price objective 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. Finally, Wells Fargo & Company decreased their price objective on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.42.

Red Rock Resorts Stock Performance

Shares of Red Rock Resorts stock opened at $50.49 on Monday. Red Rock Resorts has a one year low of $43.38 and a one year high of $63.28. The firm has a market capitalization of $5.33 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 6.30 and a beta of 2.04. The business has a 50-day simple moving average of $52.71 and a 200 day simple moving average of $53.64. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96.

Red Rock Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Monday, December 16th. Red Rock Resorts’s dividend payout ratio is presently 37.04%.

Hedge Funds Weigh In On Red Rock Resorts

Several institutional investors have recently bought and sold shares of RRR. Long Pond Capital LP purchased a new position in Red Rock Resorts in the second quarter valued at approximately $21,987,000. Eminence Capital LP lifted its stake in Red Rock Resorts by 23.7% in the second quarter. Eminence Capital LP now owns 1,952,754 shares of the company’s stock valued at $107,265,000 after purchasing an additional 374,128 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Red Rock Resorts by 4,050.3% during the third quarter. Sequoia Financial Advisors LLC now owns 333,769 shares of the company’s stock worth $18,170,000 after acquiring an additional 325,727 shares in the last quarter. Hantz Financial Services Inc. purchased a new stake in shares of Red Rock Resorts during the second quarter worth $14,384,000. Finally, Vaughan Nelson Investment Management L.P. lifted its position in shares of Red Rock Resorts by 26.7% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company’s stock worth $65,706,000 after acquiring an additional 251,855 shares in the last quarter. Hedge funds and other institutional investors own 47.84% of the company’s stock.

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.