Red Rock Resorts, Inc. (NASDAQ:RRR) Short Interest Up 31.4% in January

Red Rock Resorts, Inc. (NASDAQ:RRR) was the target of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 2,300,000 shares, an increase of 31.4% from the January 15th total of 1,750,000 shares. Approximately 4.6% of the shares of the company are sold short. Based on an average daily volume of 650,000 shares, the days-to-cover ratio is presently 3.5 days.

Analysts Set New Price Targets

RRR has been the subject of a number of recent research reports. Stifel Nicolaus boosted their price target on Red Rock Resorts from $50.00 to $54.00 and gave the company a “hold” rating in a research note on Wednesday. Jefferies Financial Group reissued a “hold” rating and issued a $51.00 target price (down from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. Macquarie reduced their target price on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Mizuho increased their target price on shares of Red Rock Resorts from $44.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Susquehanna increased their target price on shares of Red Rock Resorts from $60.00 to $61.00 and gave the stock a “positive” rating in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $57.33.

Institutional Trading of Red Rock Resorts

Hedge funds and other institutional investors have recently bought and sold shares of the business. Long Pond Capital LP increased its stake in shares of Red Rock Resorts by 142.5% during the fourth quarter. Long Pond Capital LP now owns 1,474,153 shares of the company’s stock valued at $68,165,000 after buying an additional 866,320 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in Red Rock Resorts by 4,050.3% in the third quarter. Sequoia Financial Advisors LLC now owns 333,769 shares of the company’s stock worth $18,170,000 after acquiring an additional 325,727 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Red Rock Resorts by 167.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 422,447 shares of the company’s stock worth $19,534,000 after purchasing an additional 264,609 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Red Rock Resorts by 20.6% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,344,058 shares of the company’s stock worth $62,149,000 after purchasing an additional 229,843 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Red Rock Resorts by 239.0% in the third quarter. Wellington Management Group LLP now owns 185,018 shares of the company’s stock valued at $10,072,000 after acquiring an additional 130,434 shares during the period. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Price Performance

RRR traded up $0.69 during trading on Friday, reaching $52.79. 620,794 shares of the company traded hands, compared to its average volume of 573,413. 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 cap of $5.58 billion, a P/E ratio of 19.55, a PEG ratio of 5.28 and a beta of 2.02. Red Rock Resorts has a 12-month low of $42.46 and a 12-month high of $63.28. The firm has a fifty day simple moving average of $47.44 and a 200 day simple moving average of $51.28.

Red Rock Resorts (NASDAQ:RRR) last posted its earnings results on Tuesday, February 11th. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.34. Red Rock Resorts had a return on equity of 73.20% and a net margin of 8.59%. On average, equities analysts forecast that Red Rock Resorts will post 1.44 EPS for the current year.

Red Rock Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.25 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 1.89%. Red Rock Resorts’s dividend payout ratio is presently 37.04%.

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.