Red Rock Resorts (NASDAQ:RRR) Reaches New 12-Month Low – Here’s What Happened

Red Rock Resorts, Inc. (NASDAQ:RRR)’s stock price reached a new 52-week low on Friday . The stock traded as low as $44.18 and last traded at $44.72, with a volume of 577568 shares changing hands. The stock had previously closed at $46.24.

Analysts Set New Price Targets

Several research firms have issued reports on RRR. Wells Fargo & Company dropped their price target on shares of Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. Macquarie dropped their target price on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Truist Financial reduced their price target on Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. Mizuho lowered Red Rock Resorts from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $57.00 to $44.00 in a research note on Monday, November 25th. Finally, Barclays reduced their target price 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. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Red Rock Resorts currently has an average rating of “Moderate Buy” and an average target price of $60.42.

Red Rock Resorts Trading Down 3.3 %

The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 6.69 and a beta of 2.01. The business has a fifty day simple moving average of $49.85 and a 200 day simple moving average of $53.11.

Red Rock Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.24%. 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

Hedge funds have recently made changes to their positions in the business. Quarry LP raised its stake in Red Rock Resorts by 479.4% in the third quarter. Quarry LP now owns 1,124 shares of the company’s stock valued at $61,000 after purchasing an additional 930 shares in the last quarter. US Bancorp DE increased its holdings in Red Rock Resorts by 2,223.9% in the 3rd quarter. US Bancorp DE now owns 1,557 shares of the company’s stock valued at $85,000 after buying an additional 1,490 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Red Rock Resorts in the 2nd quarter valued at approximately $98,000. nVerses Capital LLC lifted its holdings in shares of Red Rock Resorts by 28.6% during the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock worth $196,000 after acquiring an additional 800 shares during the period. Finally, Ritholtz Wealth Management acquired a new stake in shares of Red Rock Resorts during the 3rd quarter worth approximately $215,000. 47.84% of the stock is owned by institutional investors.

About Red Rock Resorts

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.