2 weeks Ago By ABMN Staff
Red Rock Resorts, Inc. ( NASDAQ:RRR – Get Free Report ) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 2,340,000 shares, an increase of 23.
8% from the August 31st total of 1,890,000 shares. Approximately 4.6% of the shares of the company are short sold.
Based on an average daily trading volume, of 480,600 shares, the short-interest ratio is currently 4.9 days. Analyst Ratings Changes A number of research firms recently weighed in on RRR.
Barclays boosted their target price on Red Rock Resorts from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th.
Morgan Stanley raised their price target on Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 4th.
Wells Fargo & Company cut shares of Red Rock Resorts from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $63.00 to $64.00 in a research report on Wednesday, July 24th.
JPMorgan Chase & Co. raised their target price on Red Rock Resorts from $62.00 to $69.
00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Macquarie upped their price target on Red Rock Resorts from $62.00 to $65.
00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Red Rock Resorts presently has an average rating of “Moderate Buy” and a consensus price target of $63.
50. Check Out Our Latest Stock Analysis on RRR Red Rock Resorts Price Performance Red Rock Resorts ( NASDAQ:RRR – Get Free Report ) last issued its earnings results on Tuesday, July 23rd. The company reported $0.
59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.16.
Red Rock Resorts had a return on equity of 83.84% and a net margin of 9.21%.
The firm had revenue of $486.40 million for the quarter, compared to analysts’ expectations of $475.80 million.
During the same period in the previous year, the firm posted $0.65 earnings per share. The business’s revenue was up 16.
9% compared to the same quarter last year. Equities analysts predict that Red Rock Resorts will post 1.66 EPS for the current year.
Red Rock Resorts Dividend Announcement The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.25 dividend.
This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.83%.
The ex-dividend date of this dividend is Monday, September 16th. Red Rock Resorts’s dividend payout ratio (DPR) is presently 34.72%.
Insider Buying and Selling In related news, VP Lorenzo J. Fertitta acquired 33,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average cost of $54.
49 per share, for a total transaction of $1,798,170.00. Following the purchase, the vice president now owns 47,480,301 shares in the company, valued at approximately $2,587,201,601.
49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink . In other Red Rock Resorts news, CEO Frank J.
Fertitta III bought 67,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were acquired at an average cost of $49.77 per share, for a total transaction of $3,334,590.
00. Following the purchase, the chief executive officer now directly owns 46,048,301 shares of the company’s stock, valued at $2,291,823,940.77.
The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink . Also, VP Lorenzo J. Fertitta bought 33,000 shares of the company’s stock in a transaction on Thursday, August 1st.
The shares were bought at an average price of $54.49 per share, with a total value of $1,798,170.00.
Following the completion of the transaction, the vice president now owns 47,480,301 shares of the company’s stock, valued at $2,587,201,601.49. The disclosure for this purchase can be found here .
In the last ninety days, insiders acquired 200,000 shares of company stock valued at $10,426,000. Company insiders own 53.28% of the company’s stock.
Institutional Investors Weigh In On Red Rock Resorts Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Covestor Ltd lifted its stake in shares of Red Rock Resorts by 16,666.7% during the 1st quarter.
Covestor Ltd now owns 503 shares of the company’s stock worth $30,000 after acquiring an additional 500 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Red Rock Resorts in the first quarter valued at about $78,000. Point72 DIFC Ltd purchased a new stake in Red Rock Resorts in the second quarter worth about $98,000.
nVerses Capital LLC bought a new position in Red Rock Resorts during the 2nd quarter worth about $154,000. Finally, Virtu Financial LLC purchased a new position in Red Rock Resorts during the 4th quarter valued at about $212,000. 47.
84% of the stock is currently owned by hedge funds and other institutional investors. Red Rock Resorts Company Profile ( Get Free Report ) 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.
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