Red Rock Resorts (NASDAQ:RRR) Price Target Lowered to $57.00 at JMP Securities

Red Rock Resorts (NASDAQ:RRR) had its target price cut by JMP Securities from $61.00 to $57.00 in a research note published on Thursday morning,Benzinga reports. They currently have a market outperform rating on the stock.

RRR has been the subject of several other research reports. Truist Financial dropped their price objective 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. Barclays dropped their price target on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Macquarie reduced their price objective on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Wells Fargo & Company dropped their target price on shares of Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Finally, Mizuho cut shares of Red Rock Resorts from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $57.00 to $44.00 in a research report on Monday, November 25th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $58.38.

Red Rock Resorts Stock Performance

Red Rock Resorts stock opened at $46.73 on Thursday. Red Rock Resorts has a 1-year low of $42.46 and a 1-year high of $63.28. The firm has a market cap of $4.94 billion, a P/E ratio of 17.31, a P/E/G ratio of 4.75 and a beta of 2.01. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. The firm has a 50-day moving average of $48.01 and a 200-day moving average of $52.49.

Red Rock Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend was Monday, December 16th. Red Rock Resorts’s dividend payout ratio is 37.04%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP boosted its holdings in Red Rock Resorts by 479.4% in the third quarter. Quarry LP now owns 1,124 shares of the company’s stock worth $61,000 after acquiring an additional 930 shares in the last quarter. US Bancorp DE raised its position in shares of Red Rock Resorts by 2,223.9% in the 3rd quarter. US Bancorp DE now owns 1,557 shares of the company’s stock worth $85,000 after purchasing an additional 1,490 shares during the last quarter. Point72 DIFC Ltd bought a new position in Red Rock Resorts in the 2nd quarter worth about $98,000. nVerses Capital LLC grew its position in Red Rock Resorts by 28.6% during the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock valued at $196,000 after purchasing an additional 800 shares during the last quarter. Finally, Mayfair Advisory Group LLC increased its stake in Red Rock Resorts by 15.1% during the 4th quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock valued at $208,000 after purchasing an additional 591 shares in the last quarter. Institutional investors own 47.84% of the company’s stock.

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.