Red Rock Resorts (RRR) Trading Down 5.9%

Shares of Red Rock Resorts Inc (NASDAQ:RRR) traded down 5.9% on Monday . The stock traded as low as $23.63 and last traded at $23.66. 742,153 shares were traded during trading, an increase of 39% from the average session volume of 534,645 shares. The stock had previously closed at $25.14.

Several analysts have weighed in on the company. BidaskClub downgraded Red Rock Resorts from a “hold” rating to a “sell” rating in a research note on Saturday, May 4th. Telsey Advisory Group reiterated a “market perform” rating and set a $26.00 price target (down previously from $28.00) on shares of Red Rock Resorts in a research note on Wednesday, May 1st. Deutsche Bank reiterated a “buy” rating and set a $31.00 price target on shares of Red Rock Resorts in a research note on Wednesday, May 1st. TheStreet upgraded Red Rock Resorts from a “c+” rating to a “b-” rating in a research note on Friday, April 26th. Finally, Zacks Investment Research upgraded Red Rock Resorts from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $30.80.

The firm has a market cap of $2.70 billion, a PE ratio of 17.66 and a beta of 2.11. The company has a debt-to-equity ratio of 3.52, a current ratio of 0.86 and a quick ratio of 0.82.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.16). The company had revenue of $447.00 million during the quarter, compared to analyst estimates of $445.50 million. Red Rock Resorts had a net margin of 6.89% and a return on equity of 10.08%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the firm earned $0.65 EPS. Research analysts anticipate that Red Rock Resorts Inc will post 1.02 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.40 annualized dividend and a dividend yield of 1.73%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 30.53%.

In other news, insider Joseph J. Hasson sold 31,628 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $26.42, for a total value of $835,611.76. Following the completion of the transaction, the insider now owns 13,921 shares of the company’s stock, valued at approximately $367,792.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joseph J. Hasson sold 42,293 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $27.42, for a total value of $1,159,674.06. Following the completion of the transaction, the insider now directly owns 58,921 shares of the company’s stock, valued at approximately $1,615,613.82. The disclosure for this sale can be found here. In the last three months, insiders sold 131,721 shares of company stock valued at $3,487,693. Insiders own 0.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RRR. Bank of Montreal Can raised its holdings in shares of Red Rock Resorts by 47.5% during the fourth quarter. Bank of Montreal Can now owns 1,437 shares of the company’s stock valued at $29,000 after acquiring an additional 463 shares during the last quarter. First Quadrant L P CA purchased a new stake in shares of Red Rock Resorts in the first quarter valued at approximately $42,000. Quantamental Technologies LLC purchased a new stake in shares of Red Rock Resorts in the fourth quarter valued at approximately $142,000. Fox Run Management L.L.C. purchased a new stake in shares of Red Rock Resorts in the fourth quarter valued at approximately $203,000. Finally, Amalgamated Bank purchased a new stake in shares of Red Rock Resorts in the fourth quarter valued at approximately $206,000. 63.90% of the stock is owned by institutional investors.

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Red Rock Resorts Company Profile (NASDAQ:RRR)

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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