Red Rock Resorts, Inc. (NASDAQ:RRR) Short Interest Up 37.7% in March

Red Rock Resorts, Inc. (NASDAQ:RRR) saw a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 4,130,000 shares, a growth of 37.7% from the February 28th total of 3,000,000 shares. Currently, 8.1% of the shares of the company are short sold. Based on an average daily trading volume, of 593,000 shares, the days-to-cover ratio is presently 7.0 days.

Wall Street Analyst Weigh In

RRR has been the subject of several recent research reports. Truist Financial cut their price target on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. Jefferies Financial Group reissued a “hold” rating and set a $51.00 price target (down from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. Susquehanna increased their target price on Red Rock Resorts from $60.00 to $61.00 and gave the stock a “positive” rating in a research report on Wednesday, February 12th. Mizuho boosted their price target on Red Rock Resorts from $44.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Finally, Stifel Nicolaus boosted their target price on shares of Red Rock Resorts from $50.00 to $54.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $57.33.

Red Rock Resorts Trading Down 2.9 %

RRR traded down $1.25 on Tuesday, hitting $42.12. The company had a trading volume of 562,472 shares, compared to its average volume of 541,542. The business’s fifty day simple moving average is $47.91 and its 200 day simple moving average is $49.49. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. Red Rock Resorts has a 12-month low of $41.46 and a 12-month high of $63.29. The company has a market cap of $4.47 billion, a PE ratio of 16.78, a PEG ratio of 4.32 and a beta of 2.01.

Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. Equities research analysts expect that Red Rock Resorts will post 1.76 EPS for the current year.

Red Rock Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.25 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.37%. Red Rock Resorts’s payout ratio is 39.84%.

Institutional Investors Weigh In On Red Rock Resorts

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC increased its position in shares of Red Rock Resorts by 654.7% during the fourth quarter. Sterling Capital Management LLC now owns 883 shares of the company’s stock worth $41,000 after acquiring an additional 766 shares during the period. Quarry LP increased its holdings in Red Rock Resorts by 479.4% during the 3rd quarter. Quarry LP now owns 1,124 shares of the company’s stock worth $61,000 after purchasing an additional 930 shares during the period. KBC Group NV increased its holdings in Red Rock Resorts by 37.1% during the 4th quarter. KBC Group NV now owns 1,996 shares of the company’s stock worth $92,000 after purchasing an additional 540 shares during the period. Tower Research Capital LLC TRC raised its position 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. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Red Rock Resorts in the 3rd quarter worth $233,000. 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.