Red Rock Resorts (NASDAQ:RRR) Sets New 1-Year Low – Here’s Why

Red Rock Resorts, Inc. (NASDAQ:RRR) reached a new 52-week low on Friday . The stock traded as low as $42.61 and last traded at $43.10, with a volume of 23451 shares changing hands. The stock had previously closed at $43.94.

Analysts Set New Price Targets

Several analysts have recently issued reports on RRR shares. Macquarie reduced their price target 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. Jefferies Financial Group reissued a “hold” rating and issued a $51.00 price target (down previously from $64.00) on shares of Red Rock Resorts in a research report on Friday, January 3rd. JMP Securities reiterated a “market outperform” rating and issued a $65.00 price objective on shares of Red Rock Resorts in a research note on Monday, October 14th. Wells Fargo & Company lowered their target price on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. Finally, Mizuho lowered 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. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Red Rock Resorts presently has an average rating of “Hold” and a consensus price target of $59.69.

Red Rock Resorts Stock Down 1.7 %

The firm’s 50-day moving average price is $48.81 and its two-hundred day moving average price is $52.78. 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 firm has a market cap of $4.56 billion, a PE ratio of 16.00, a P/E/G ratio of 6.69 and a beta of 2.01.

Red Rock Resorts Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 2.32%. Red Rock Resorts’s dividend payout ratio is presently 37.04%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Avior Wealth Management LLC boosted its stake in shares of Red Rock Resorts by 3.0% during the third quarter. Avior Wealth Management LLC now owns 7,898 shares of the company’s stock worth $430,000 after buying an additional 232 shares during the period. Truist Financial Corp grew its stake in shares of Red Rock Resorts by 0.9% in the 2nd quarter. Truist Financial Corp now owns 27,545 shares of the company’s stock valued at $1,513,000 after purchasing an additional 241 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Red Rock Resorts by 3.3% in the second quarter. Arizona State Retirement System now owns 14,086 shares of the company’s stock valued at $774,000 after purchasing an additional 444 shares during the period. WCG Wealth Advisors LLC raised its stake in shares of Red Rock Resorts by 2.5% during the second quarter. WCG Wealth Advisors LLC now owns 18,325 shares of the company’s stock worth $1,007,000 after purchasing an additional 450 shares during the last quarter. Finally, King Luther Capital Management Corp lifted its holdings in shares of Red Rock Resorts by 1.2% during the third quarter. King Luther Capital Management Corp now owns 64,043 shares of the company’s stock worth $3,487,000 after purchasing an additional 765 shares during the period. Institutional investors and hedge funds own 47.84% of the company’s stock.

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.