Red Rock Resorts, Inc. (NASDAQ:RRR) Short Interest Up 31.4% in January

Red Rock Resorts, Inc. (NASDAQ:RRR) was the recipient of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 2,300,000 shares, a growth of 31.4% from the January 15th total of 1,750,000 shares. Based on an average daily volume of 650,000 shares, the short-interest ratio is presently 3.5 days. Currently, 4.6% of the company’s stock are sold short.

Hedge Funds Weigh In On Red Rock Resorts

Large investors have recently added to or reduced their stakes in the business. Long Pond Capital LP grew its holdings in Red Rock Resorts by 142.5% in the 4th quarter. Long Pond Capital LP now owns 1,474,153 shares of the company’s stock worth $68,165,000 after acquiring an additional 866,320 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Red Rock Resorts by 4,050.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 333,769 shares of the company’s stock valued at $18,170,000 after purchasing an additional 325,727 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Red Rock Resorts by 167.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 422,447 shares of the company’s stock valued at $19,534,000 after purchasing an additional 264,609 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Red Rock Resorts by 20.6% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,344,058 shares of the company’s stock valued at $62,149,000 after purchasing an additional 229,843 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Red Rock Resorts by 239.0% during the 3rd quarter. Wellington Management Group LLP now owns 185,018 shares of the company’s stock valued at $10,072,000 after purchasing an additional 130,434 shares in the last quarter. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Price Performance

NASDAQ RRR traded up $0.69 on Friday, hitting $52.79. The stock had a trading volume of 620,794 shares, compared to its average volume of 573,413. Red Rock Resorts has a 52-week low of $42.46 and a 52-week high of $63.28. 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 company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 19.55, a price-to-earnings-growth ratio of 5.28 and a beta of 2.02. The firm has a 50-day moving average of $47.44 and a 200-day moving average of $51.28.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a net margin of 8.59% and a return on equity of 73.20%. Equities analysts expect that Red Rock Resorts will post 1.44 EPS for the current year.

Red Rock Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Monday, March 17th. Red Rock Resorts’s dividend payout ratio (DPR) is currently 37.04%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group reiterated a “hold” rating and set a $51.00 price objective (down previously from $64.00) on shares of Red Rock Resorts in a report on Friday, January 3rd. Barclays lowered their target price on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Susquehanna upped their target price on shares of Red Rock Resorts from $60.00 to $61.00 and gave the stock a “positive” rating in a report on Wednesday. JMP Securities lowered their target price on shares of Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating on the stock in a report on Thursday, January 16th. Finally, Mizuho upped their target price on shares of Red Rock Resorts from $44.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Red Rock Resorts currently has a consensus rating of “Hold” and an average price target of $57.33.

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.