Red Rock Resorts (NASDAQ:RRR) Shares Down 7.1%

Red Rock Resorts, Inc. (NASDAQ:RRR)’s share price was down 7.1% on Friday . The stock traded as low as $54.59 and last traded at $55.05. Approximately 155,312 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 402,857 shares. The stock had previously closed at $59.23.

Analysts Set New Price Targets

Several research analysts have weighed in on RRR shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Red Rock Resorts from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Susquehanna upped their price objective on shares of Red Rock Resorts from $52.00 to $66.00 and gave the company a “positive” rating in a research note on Thursday, February 8th. Mizuho started coverage on shares of Red Rock Resorts in a research note on Tuesday, March 26th. They issued a “buy” rating and a $69.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on shares of Red Rock Resorts from $63.00 to $69.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Finally, Truist Financial upped their price objective on shares of Red Rock Resorts from $58.00 to $60.00 and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Red Rock Resorts presently has an average rating of “Moderate Buy” and an average target price of $61.67.

Red Rock Resorts Price Performance

The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 13.54. The company has a market capitalization of $5.69 billion, a P/E ratio of 18.35, a P/E/G ratio of 3.04 and a beta of 2.06. The company’s 50-day simple moving average is $58.27 and its 200 day simple moving average is $51.83.

Red Rock Resorts (NASDAQ:RRR) last posted its earnings results on Wednesday, February 7th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.40 by $0.55. The company had revenue of $462.71 million during the quarter, compared to the consensus estimate of $440.75 million. Red Rock Resorts had a net margin of 10.21% and a return on equity of 114.32%. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.00 earnings per share. As a group, sell-side analysts expect that Red Rock Resorts, Inc. will post 1.94 earnings per share for the current fiscal year.

Red Rock Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Thursday, March 14th. Red Rock Resorts’s dividend payout ratio is currently 33.90%.

Insider Buying and Selling

In related news, CFO Stephen Lawrence Cootey sold 7,520 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $57.74, for a total transaction of $434,204.80. Following the completion of the sale, the chief financial officer now directly owns 243,808 shares of the company’s stock, valued at approximately $14,077,473.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 54.20% of the stock is owned by insiders.

Institutional Trading of Red Rock Resorts

Large investors have recently modified their holdings of the company. Virtu Financial LLC bought a new stake in shares of Red Rock Resorts during the 4th quarter worth $212,000. Core Wealth Partners LLC acquired a new position in Red Rock Resorts during the 4th quarter valued at $213,000. Valeo Financial Advisors LLC acquired a new position in Red Rock Resorts during the 4th quarter valued at $255,000. VELA Investment Management LLC acquired a new position in Red Rock Resorts during the 4th quarter valued at $256,000. Finally, Malaga Cove Capital LLC acquired a new position in Red Rock Resorts during the 3rd quarter valued at $242,000. 47.84% of the stock is owned by institutional investors.

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.