Zacks Investment Research Lowers Red Rock Resorts, Inc. (RRR) to Strong Sell
Red Rock Resorts, Inc. (NASDAQ:RRR) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Red Rock Resorts manage and own an indirect equity interest in Station Casinos LLC. Station is the provider of gaming and entertainment primarily in Las Vegas, Nevada. Red Rock Resorts is based in LAS VEGAS, United States. “
A number of other equities analysts also recently weighed in on RRR. Bank of America Corporation reissued a “buy” rating and set a $26.00 price target (up previously from $24.50) on shares of Red Rock Resorts in a research report on Monday, June 5th. Stifel Nicolaus restated a “buy” rating and set a $27.00 price objective on shares of Red Rock Resorts in a report on Friday, July 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. Red Rock Resorts has a consensus rating of “Buy” and a consensus price target of $26.14.
Shares of Red Rock Resorts (NASDAQ:RRR) traded down 0.72% during mid-day trading on Friday, reaching $22.00. The company had a trading volume of 1,018,540 shares. Red Rock Resorts has a 12 month low of $20.58 and a 12 month high of $24.94. The company’s market capitalization is $1.45 billion. The firm’s 50-day moving average is $23.73 and its 200 day moving average is $23.19.
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Several large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Red Rock Resorts by 16.0% in the second quarter. Vanguard Group Inc. now owns 4,831,772 shares of the company’s stock worth $113,788,000 after buying an additional 666,099 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in shares of Red Rock Resorts by 5.2% in the second quarter. Diamond Hill Capital Management Inc. now owns 4,593,762 shares of the company’s stock worth $108,183,000 after buying an additional 226,988 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Red Rock Resorts by 1.7% in the second quarter. JPMorgan Chase & Co. now owns 3,450,279 shares of the company’s stock worth $81,254,000 after buying an additional 58,707 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Red Rock Resorts by 4.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,751,102 shares of the company’s stock worth $38,840,000 after buying an additional 74,797 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Red Rock Resorts by 15.2% in the second quarter. Victory Capital Management Inc. now owns 1,730,982 shares of the company’s stock worth $40,765,000 after buying an additional 228,850 shares in the last quarter. Institutional investors own 58.14% of the company’s stock.
About Red Rock Resorts
Red Rock Resorts, Inc is a gaming, development and management company. The Company’s segments include Las Vegas operations, Native American management, and Corporate and other. The Las Vegas operations segment includes all of its Las Vegas area casino properties and the Native American management segment includes its Native American management arrangements.
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