Short Interest in Red Rock Resorts, Inc. (NASDAQ:RRR) Increases By 21.3%

Red Rock Resorts, Inc. (NASDAQ:RRR) saw a significant increase in short interest in February. As of February 15th, there was short interest totalling 2,790,000 shares, an increase of 21.3% from the January 31st total of 2,300,000 shares. Approximately 5.5% of the company’s shares are short sold. Based on an average daily volume of 587,200 shares, the days-to-cover ratio is presently 4.8 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Truist Financial reduced their price target on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. Susquehanna boosted their price target on shares of Red Rock Resorts from $60.00 to $61.00 and gave the stock a “positive” rating in a research report on Wednesday, February 12th. JMP Securities reduced their price objective on shares of Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating for the company in a research note on Thursday, January 16th. Barclays lowered their target price on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $51.00 price target (down from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $57.33.

Hedge Funds Weigh In On Red Rock Resorts

A number of hedge funds and other institutional investors have recently made changes to their positions in RRR. Sterling Capital Management LLC boosted its position in shares of Red Rock Resorts by 654.7% during the 4th quarter. Sterling Capital Management LLC now owns 883 shares of the company’s stock worth $41,000 after purchasing an additional 766 shares in the last quarter. Quarry LP grew its stake in Red Rock Resorts by 479.4% in the third quarter. Quarry LP now owns 1,124 shares of the company’s stock valued at $61,000 after acquiring an additional 930 shares during the period. US Bancorp DE grew its stake in Red Rock Resorts by 2,223.9% in the third quarter. US Bancorp DE now owns 1,557 shares of the company’s stock valued at $85,000 after acquiring an additional 1,490 shares during the period. KBC Group NV increased its holdings in shares of Red Rock Resorts by 37.1% during the fourth quarter. KBC Group NV now owns 1,996 shares of the company’s stock valued at $92,000 after acquiring an additional 540 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Red Rock Resorts by 47.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company’s stock valued at $95,000 after purchasing an additional 664 shares in the last quarter. 47.84% of the stock is owned by institutional investors and hedge funds.

Red Rock Resorts Price Performance

NASDAQ RRR traded down $0.56 on Thursday, hitting $47.32. 23,138 shares of the company’s stock were exchanged, compared to its average volume of 609,722. The stock has a 50-day moving average of $48.21 and a 200-day moving average of $50.97. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of 18.84, a P/E/G ratio of 4.32 and a beta of 2.01. Red Rock Resorts has a 52 week low of $42.46 and a 52 week high of $63.28. 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 (NASDAQ:RRR) last announced its quarterly 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 71.00% and a net margin of 7.94%. Analysts expect that Red Rock Resorts will post 1.76 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued 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 2.11%. Red Rock Resorts’s payout ratio is 39.84%.

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.