Red Rock Resorts, Inc. (NASDAQ:RRR) Short Interest Up 37.7% in March

Red Rock Resorts, Inc. (NASDAQ:RRR) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 4,130,000 shares, a growth of 37.7% from the February 28th total of 3,000,000 shares. Currently, 8.1% of the company’s stock are short sold. Based on an average daily volume of 593,000 shares, the days-to-cover ratio is currently 7.0 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on RRR shares. Truist Financial cut 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. Susquehanna lifted their price objective on shares of Red Rock Resorts from $60.00 to $61.00 and gave the company a “positive” rating in a research report on Wednesday, February 12th. Stifel Nicolaus upped their target price on shares of Red Rock Resorts from $50.00 to $54.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. Mizuho raised their target price on shares of Red Rock Resorts from $44.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Finally, JMP Securities lowered their price target on Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating on the stock in a research report on Thursday, January 16th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Red Rock Resorts has a consensus rating of “Hold” and an average price target of $57.33.

Red Rock Resorts Stock Performance

Shares of NASDAQ RRR opened at $43.12 on Monday. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of 17.18, a P/E/G ratio of 4.32 and a beta of 2.01. The stock’s fifty day moving average price is $47.98 and its two-hundred day moving average price is $49.56. Red Rock Resorts has a one year low of $42.33 and a one year high of $63.29.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. Red Rock Resorts had a net margin of 7.94% and a return on equity of 71.00%. On average, equities analysts forecast that Red Rock Resorts 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 Monday, March 31st. Stockholders of record on Monday, March 17th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.32%. Red Rock Resorts’s payout ratio is 39.84%.

Institutional Investors Weigh In On Red Rock Resorts

Several institutional investors have recently made changes to their positions in RRR. Sterling Capital Management LLC increased its stake in Red Rock Resorts by 654.7% during the 4th quarter. Sterling Capital Management LLC now owns 883 shares of the company’s stock worth $41,000 after acquiring an additional 766 shares during the period. Quarry LP grew its holdings in shares of Red Rock Resorts by 479.4% during the 3rd quarter. Quarry LP now owns 1,124 shares of the company’s stock worth $61,000 after purchasing an additional 930 shares in the last quarter. KBC Group NV increased its position in shares of Red Rock Resorts by 37.1% in the fourth quarter. KBC Group NV now owns 1,996 shares of the company’s stock worth $92,000 after purchasing an additional 540 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Red Rock Resorts by 47.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company’s stock worth $95,000 after purchasing an additional 664 shares during the period. Finally, Mayfair Advisory Group LLC raised its stake in Red Rock Resorts by 15.1% in the fourth 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. 47.84% of the stock is currently 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.