Short Interest in Red Rock Resorts, Inc. (NASDAQ:RRR) Expands By 16.8%

Red Rock Resorts, Inc. (NASDAQ:RRR) saw a significant growth in short interest in October. As of October 31st, there was short interest totalling 2,710,000 shares, a growth of 16.8% from the October 15th total of 2,320,000 shares. Currently, 5.4% of the shares of the stock are sold short. Based on an average daily volume of 489,700 shares, the days-to-cover ratio is currently 5.5 days.

Red Rock Resorts Stock Up 1.3 %

NASDAQ RRR traded up $0.63 during trading hours on Friday, reaching $50.84. 862,367 shares of the company’s stock traded hands, compared to its average volume of 488,530. The firm has a market cap of $5.37 billion, a PE ratio of 18.83, a PEG ratio of 6.38 and a beta of 2.04. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.89. Red Rock Resorts has a 52-week low of $43.08 and a 52-week high of $63.28. The firm has a 50-day simple moving average of $53.15 and a 200 day simple moving average of $53.76.

Red Rock Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Monday, December 16th. Red Rock Resorts’s dividend payout ratio is presently 37.04%.

Institutional Trading of Red Rock Resorts

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Long Pond Capital LP bought a new stake in shares of Red Rock Resorts in the 2nd quarter worth $21,987,000. Eminence Capital LP boosted its position in shares of Red Rock Resorts by 23.7% during the second quarter. Eminence Capital LP now owns 1,952,754 shares of the company’s stock valued at $107,265,000 after buying an additional 374,128 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Red Rock Resorts by 4,050.3% during the third quarter. Sequoia Financial Advisors LLC now owns 333,769 shares of the company’s stock valued at $18,170,000 after buying an additional 325,727 shares during the last quarter. Hantz Financial Services Inc. bought a new stake in Red Rock Resorts in the 2nd quarter worth about $14,384,000. Finally, Vaughan Nelson Investment Management L.P. raised its position in Red Rock Resorts by 26.7% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company’s stock worth $65,706,000 after buying an additional 251,855 shares during the last quarter. 47.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Morgan Stanley lifted their price target on Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. Stifel Nicolaus lifted their price target on shares of Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Wells Fargo & Company cut their price objective on shares of Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. JPMorgan Chase & Co. lifted their target price on shares of Red Rock Resorts from $62.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Susquehanna upped their price target on shares of Red Rock Resorts from $63.00 to $70.00 and gave the company a “positive” rating in a research report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.50.

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.