Red Rock Resorts, Inc. (NASDAQ:RRR) saw a large increase in short interest in June. As of June 30th, there was short interest totalling 4,366,478 shares, an increase of 83.2% from the June 15th total of 2,382,848 shares. Based on an average daily trading volume, of 1,125,473 shares, the short-interest ratio is presently 3.9 days. Approximately 6.5% of the shares of the stock are short sold.
Shares of Red Rock Resorts (NASDAQ RRR) traded up 2.25% during trading on Friday, reaching $24.06. The company’s stock had a trading volume of 371,527 shares. The stock’s market cap is $1.58 billion. Red Rock Resorts has a 12-month low of $20.58 and a 12-month high of $24.94. The company has a 50 day moving average of $23.87 and a 200-day moving average of $23.17.
Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings data on Thursday, May 4th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by $0.07. The company had revenue of $417.73 million during the quarter, compared to the consensus estimate of $402.88 million. Red Rock Resorts had a net margin of 3.58% and a return on equity of 10.00%. Red Rock Resorts’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 earnings per share. Analysts forecast that Red Rock Resorts will post $1.33 EPS for the current year.
The business also recently disclosed a dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th will be paid a $0.10 dividend. The ex-dividend date is Friday, August 11th. Red Rock Resorts’s payout ratio is 45.46%.
A number of brokerages recently weighed in on RRR. Stifel Nicolaus reissued a “buy” rating and set a $27.00 price objective on shares of Red Rock Resorts in a report on Friday, July 14th. Bank of America Corporation reaffirmed a “buy” rating and issued a $26.00 price target (up from $24.50) on shares of Red Rock Resorts in a research note on Monday, June 5th. Finally, Zacks Investment Research cut Red Rock Resorts from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $26.14.
Several large investors have recently bought and sold shares of RRR. Diamond Hill Capital Management Inc. raised its stake in Red Rock Resorts by 5.2% in the second quarter. Diamond Hill Capital Management Inc. now owns 4,593,762 shares of the company’s stock valued at $108,183,000 after buying an additional 226,988 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Red Rock Resorts by 27.7% in the first quarter. Vanguard Group Inc. now owns 4,165,673 shares of the company’s stock valued at $92,395,000 after buying an additional 904,273 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Red Rock Resorts by 78.7% in the first quarter. JPMorgan Chase & Co. now owns 3,391,572 shares of the company’s stock valued at $75,225,000 after buying an additional 1,493,890 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Red Rock Resorts by 4.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,751,102 shares of the company’s stock valued at $38,840,000 after buying an additional 74,797 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Red Rock Resorts by 20.5% in the first quarter. Victory Capital Management Inc. now owns 1,502,132 shares of the company’s stock valued at $33,317,000 after buying an additional 256,020 shares during the last quarter. 58.42% of the stock is owned by institutional investors and hedge funds.
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Red Rock Resorts Company Profile
Red Rock Resorts, Inc is a gaming, development and management company. The Company’s segments include Las Vegas operations, Native American management, and Corporate and other. The Las Vegas operations segment includes all of its Las Vegas area casino properties and the Native American management segment includes its Native American management arrangements.
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