Red Rock Resorts (NASDAQ:RRR) Shares Pass Above 200 Day Moving Average – Time to Sell?

Red Rock Resorts, Inc. (NASDAQ:RRR) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $60.34 and traded as high as $64.04. Red Rock Resorts shares last traded at $60.53, with a volume of 722,419 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on RRR shares. Susquehanna boosted their price target on shares of Red Rock Resorts from $69.00 to $77.00 and gave the company a “positive” rating in a report on Wednesday, February 11th. Citigroup lifted their price objective on shares of Red Rock Resorts from $63.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Stifel Nicolaus boosted their target price on shares of Red Rock Resorts from $71.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Citizens Jmp raised their price target on shares of Red Rock Resorts from $65.00 to $68.00 and gave the company a “market outperform” rating in a research note on Wednesday, January 14th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $79.00 price target on shares of Red Rock Resorts in a report on Wednesday, February 11th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $71.15.

Red Rock Resorts Stock Down 5.5%

The firm has a market cap of $6.41 billion, a price-to-earnings ratio of 19.34, a price-to-earnings-growth ratio of 2.65 and a beta of 1.49. The stock’s 50 day moving average is $62.80 and its 200 day moving average is $60.34. The company has a quick ratio of 0.70, a current ratio of 0.75 and a debt-to-equity ratio of 10.11.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.34. Red Rock Resorts had a return on equity of 58.12% and a net margin of 9.35%.The firm had revenue of $511.78 million during the quarter, compared to analyst estimates of $500.90 million. During the same period last year, the company posted $0.76 EPS. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. Analysts forecast that Red Rock Resorts, Inc. will post 1.76 EPS for the current year.

Red Rock Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be given a $0.26 dividend. The ex-dividend date is Monday, March 16th. This represents a $1.04 annualized dividend and a yield of 1.7%. Red Rock Resorts’s payout ratio is 33.23%.

Red Rock Resorts declared that its Board of Directors has initiated a stock buyback program on Tuesday, October 28th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 4.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RRR. T. Rowe Price Investment Management Inc. lifted its position in shares of Red Rock Resorts by 2.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 323,267 shares of the company’s stock valued at $20,027,000 after acquiring an additional 6,464 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Red Rock Resorts by 345.6% in the 4th quarter. Invesco Ltd. now owns 1,054,086 shares of the company’s stock worth $65,301,000 after acquiring an additional 817,524 shares during the last quarter. State of Tennessee Department of Treasury raised its position in shares of Red Rock Resorts by 1,374.9% during the fourth quarter. State of Tennessee Department of Treasury now owns 33,732 shares of the company’s stock worth $2,130,000 after purchasing an additional 31,445 shares during the period. Fuller & Thaler Asset Management Inc. raised its position in shares of Red Rock Resorts by 7.4% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,207,404 shares of the company’s stock worth $74,799,000 after purchasing an additional 82,849 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in shares of Red Rock Resorts during the fourth quarter valued at $45,724,000. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.