Stock Traders Purchase Large Volume of Red Rock Resorts Call Options (RRR)

Red Rock Resorts Inc (NASDAQ:RRR) saw some unusual options trading on Wednesday. Traders purchased 1,500 call options on the company. This represents an increase of approximately 1,072% compared to the typical volume of 128 call options.

Shares of RRR stock opened at $25.74 on Thursday. Red Rock Resorts has a twelve month low of $23.40 and a twelve month high of $36.99. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 41.52 and a beta of 1.59. The company has a debt-to-equity ratio of 3.23, a current ratio of 0.67 and a quick ratio of 0.63.

Red Rock Resorts (NASDAQ:RRR) last issued its earnings results on Tuesday, July 31st. The company reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.08. Red Rock Resorts had a return on equity of 13.23% and a net margin of 10.74%. The business had revenue of $416.19 million during the quarter, compared to analysts’ expectations of $408.46 million. As a group, equities analysts forecast that Red Rock Resorts will post 1.4 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend was Thursday, September 13th. Red Rock Resorts’s dividend payout ratio is 64.52%.

Several hedge funds have recently modified their holdings of RRR. Rhumbline Advisers lifted its stake in shares of Red Rock Resorts by 6.1% during the 2nd quarter. Rhumbline Advisers now owns 67,416 shares of the company’s stock worth $2,258,000 after purchasing an additional 3,862 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Red Rock Resorts by 29.8% during the 1st quarter. Legal & General Group Plc now owns 25,800 shares of the company’s stock worth $756,000 after purchasing an additional 5,924 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Red Rock Resorts during the 2nd quarter worth $226,000. Russell Investments Group Ltd. lifted its stake in shares of Red Rock Resorts by 38.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 24,640 shares of the company’s stock worth $825,000 after purchasing an additional 6,828 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC lifted its stake in shares of Red Rock Resorts by 96.2% during the 2nd quarter. Quantitative Systematic Strategies LLC now owns 18,126 shares of the company’s stock worth $607,000 after purchasing an additional 8,889 shares during the last quarter. Institutional investors and hedge funds own 61.29% of the company’s stock.

A number of equities analysts recently issued reports on the company. BidaskClub upgraded Red Rock Resorts from a “strong sell” rating to a “sell” rating in a report on Friday, October 12th. ValuEngine cut Red Rock Resorts from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Zacks Investment Research cut Red Rock Resorts from a “hold” rating to a “sell” rating in a report on Friday, October 5th. TheStreet cut Red Rock Resorts from a “b-” rating to a “c” rating in a report on Monday, September 24th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $38.00 target price on shares of Red Rock Resorts in a report on Thursday, August 16th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. Red Rock Resorts currently has a consensus rating of “Hold” and a consensus price target of $35.30.

About Red Rock Resorts

Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.

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