Red Rock Resorts, Inc. (NASDAQ:RRR) has earned an average rating of “Buy” from the thirteen research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and ten have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $26.15.
Several brokerages have recently weighed in on RRR. Stifel Nicolaus reissued a “buy” rating and set a $27.00 target price on shares of Red Rock Resorts in a research report on Friday, July 14th. Bank of America Corporation reissued a “buy” rating and set a $26.00 target price (up previously from $24.50) on shares of Red Rock Resorts in a research report on Monday, June 5th. Finally, Zacks Investment Research lowered Red Rock Resorts from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Creative Planning increased its position in Red Rock Resorts by 14,324.5% in the first quarter. Creative Planning now owns 28,849 shares of the company’s stock worth $640,000 after buying an additional 28,649 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Red Rock Resorts during the first quarter worth about $684,000. Bank of New York Mellon Corp increased its position in Red Rock Resorts by 9.9% in the first quarter. Bank of New York Mellon Corp now owns 387,420 shares of the company’s stock worth $8,593,000 after buying an additional 34,778 shares in the last quarter. Oxford Asset Management purchased a new position in Red Rock Resorts during the first quarter worth about $1,558,000. Finally, KRV Capital LP purchased a new position in Red Rock Resorts during the first quarter worth about $8,428,000. Hedge funds and other institutional investors own 58.14% of the company’s stock.
Shares of Red Rock Resorts (NASDAQ RRR) traded down 0.72% during trading on Friday, reaching $22.00. 1,018,510 shares of the company’s stock were exchanged. The company’s market capitalization is $1.45 billion. The stock has a 50-day moving average price of $23.77 and a 200 day moving average price of $23.19. Red Rock Resorts has a 12-month low of $20.58 and a 12-month high of $24.94.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 15th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, August 11th. This represents a $0.40 dividend on an annualized basis and a yield of 1.82%. Red Rock Resorts’s dividend payout ratio is presently 45.46%.
About Red Rock Resorts
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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