Red Rock Resorts (NASDAQ:RRR) Receives “Hold” Rating from Jefferies Financial Group

Jefferies Financial Group reissued their hold rating on shares of Red Rock Resorts (NASDAQ:RRR) in a research report report published on Friday, Marketbeat reports. The firm currently has a $51.00 price target on the stock, down from their previous price target of $64.00.

A number of other brokerages also recently commented on RRR. JMP Securities reaffirmed a “market outperform” rating and set a $65.00 price target on shares of Red Rock Resorts in a research report on Monday, October 14th. Barclays lowered their target price on 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. Mizuho lowered shares of Red Rock Resorts from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $57.00 to $44.00 in a research report on Monday, November 25th. Macquarie lowered their price objective on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Finally, Truist Financial reduced their target price 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. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on 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 %

Shares of RRR stock opened at $44.91 on Friday. Red Rock Resorts has a 52-week low of $43.64 and a 52-week high of $63.28. The company has a 50-day simple moving average of $49.69 and a two-hundred day simple moving average of $53.06. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 6.69 and a beta of 2.01.

Red Rock Resorts Announces Dividend

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

Institutional Investors Weigh In On Red Rock Resorts

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in Red Rock Resorts by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 404,153 shares of the company’s stock worth $22,200,000 after acquiring an additional 24,992 shares during the period. Rhumbline Advisers raised its position in shares of Red Rock Resorts by 4.3% in the second quarter. Rhumbline Advisers now owns 76,663 shares of the company’s stock worth $4,211,000 after buying an additional 3,146 shares in the last quarter. Arizona State Retirement System boosted its stake in Red Rock Resorts by 3.3% during the second quarter. Arizona State Retirement System now owns 14,086 shares of the company’s stock valued at $774,000 after buying an additional 444 shares during the period. Malaga Cove Capital LLC grew its position in Red Rock Resorts by 54.5% during the second quarter. Malaga Cove Capital LLC now owns 9,114 shares of the company’s stock worth $501,000 after buying an additional 3,215 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Red Rock Resorts by 9.8% during the second quarter. American Century Companies Inc. now owns 34,521 shares of the company’s stock worth $1,896,000 after buying an additional 3,084 shares in the last quarter. 47.84% of the stock is owned by hedge funds and other institutional investors.

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.