Red Rock Resorts (NASDAQ:RRR) Stock Rating Lowered by Mizuho

Mizuho downgraded shares of Red Rock Resorts (NASDAQ:RRR) from an outperform rating to a neutral rating in a research report released on Monday, MarketBeat reports. The brokerage currently has $44.00 price target on the stock, down from their previous price target of $57.00.

Several other research firms have also recently weighed in on RRR. 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 report on Friday, November 8th. Wells Fargo & Company reduced their price target on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Macquarie decreased their price target on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Truist Financial cut their price objective on shares of Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $65.00 target price on shares of Red Rock Resorts in a research report on Monday, October 14th. 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.42.

Red Rock Resorts Trading Up 0.2 %

RRR opened at $49.86 on Monday. The stock has a market capitalization of $5.27 billion, a P/E ratio of 18.49, a P/E/G ratio of 6.26 and a beta of 2.04. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. Red Rock Resorts has a 12 month low of $43.38 and a 12 month high of $63.28. The firm’s fifty day simple moving average is $52.63 and its 200 day simple moving average is $53.64.

Red Rock Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Monday, December 16th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 37.04%.

Hedge Funds Weigh In On Red Rock Resorts

A number of hedge funds and other institutional investors have recently bought and sold shares of RRR. GSA Capital Partners LLP bought a new position in Red Rock Resorts during the third quarter worth $842,000. Nicholas Investment Partners LP acquired a new stake in shares of Red Rock Resorts during the 2nd quarter worth about $5,336,000. Westfield Capital Management Co. LP boosted its holdings in shares of Red Rock Resorts by 3.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,134,509 shares of the company’s stock worth $61,763,000 after buying an additional 38,443 shares during the period. Seven Eight Capital LP grew its stake in Red Rock Resorts by 477.5% in the 2nd quarter. Seven Eight Capital LP now owns 28,914 shares of the company’s stock valued at $1,588,000 after buying an additional 23,907 shares during the last quarter. Finally, Versor Investments LP bought a new position in Red Rock Resorts in the 2nd quarter valued at about $588,000. 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.