Red Rock Resorts (NASDAQ:RRR) Shares Down 3.9% – Time to Sell?

Red Rock Resorts, Inc. (NASDAQ:RRR) dropped 3.9% during mid-day trading on Thursday . The stock traded as low as $44.40 and last traded at $44.45. Approximately 224,786 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 491,138 shares. The stock had previously closed at $46.24.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RRR. JMP Securities restated a “market outperform” rating and issued a $65.00 target price on shares of Red Rock Resorts in a research note on Monday, October 14th. Barclays reduced their price objective 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. Macquarie lowered their target price on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Truist Financial reduced their price target on shares of Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. Finally, Mizuho lowered shares of Red Rock Resorts from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $57.00 to $44.00 in a research report on Monday, November 25th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $59.69.

Red Rock Resorts Trading Up 0.4 %

The stock has a market cap of $4.74 billion, a PE ratio of 16.63, a PEG ratio of 6.69 and a beta of 2.01. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. The firm has a fifty day simple moving average of $49.69 and a two-hundred day simple moving average of $53.06.

Red Rock Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 2.23%. Red Rock Resorts’s dividend payout ratio is presently 37.04%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Long Pond Capital LP bought a new stake in shares of Red Rock Resorts in the 2nd quarter worth 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 worth $107,265,000 after purchasing an additional 374,128 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in 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 valued at $18,170,000 after buying an additional 325,727 shares during the period. Wellington Management Group LLP grew its stake in shares of Red Rock Resorts by 239.0% during the third quarter. Wellington Management Group LLP now owns 185,018 shares of the company’s stock valued at $10,072,000 after buying an additional 130,434 shares during the last quarter. Finally, Bamco Inc. NY increased its holdings in shares of Red Rock Resorts by 1.0% in the third quarter. Bamco Inc. NY now owns 10,623,284 shares of the company’s stock worth $578,332,000 after buying an additional 106,509 shares during the period. 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.