Red Rock Resorts, Inc. (RRR) Downgraded to Strong Sell at BidaskClub
BidaskClub cut shares of Red Rock Resorts, Inc. (NASDAQ:RRR) from a sell rating to a strong sell rating in a research note released on Friday morning.
A number of other equities analysts have also issued reports on RRR. Zacks Investment Research lowered Red Rock Resorts from a hold rating to a strong sell rating in a report on Friday, August 11th. SunTrust Banks, Inc. started coverage on Red Rock Resorts in a report on Thursday, September 14th. They issued a buy rating and a $26.00 price objective for the company. ValuEngine raised Red Rock Resorts from a hold rating to a buy rating in a report on Friday, September 8th. Bank of America Corporation reissued a buy rating and issued a $26.00 price objective (up from $24.50) on shares of Red Rock Resorts in a report on Monday, June 5th. Finally, Stifel Nicolaus reissued a buy rating and issued a $27.00 price objective on shares of Red Rock Resorts in a report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. The company has an average rating of Buy and an average target price of $26.23.
Shares of Red Rock Resorts (RRR) opened at 22.77 on Friday. Red Rock Resorts has a 12-month low of $21.07 and a 12-month high of $24.67. The firm has a market capitalization of $1.54 billion, a PE ratio of 57.94 and a beta of 0.69. The stock has a 50 day moving average price of $22.65 and a 200 day moving average price of $22.60.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Tuesday, August 15th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Friday, August 11th. Red Rock Resorts’s dividend payout ratio (DPR) is 83.33%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp lifted its position in Red Rock Resorts by 100.9% in the first quarter. Fifth Third Bancorp now owns 5,022 shares of the company’s stock worth $111,000 after purchasing an additional 2,522 shares during the period. Ameritas Investment Partners Inc. lifted its position in Red Rock Resorts by 154.6% in the second quarter. Ameritas Investment Partners Inc. now owns 5,966 shares of the company’s stock worth $140,000 after purchasing an additional 3,623 shares during the period. Advisor Group Inc. lifted its position in Red Rock Resorts by 7,476.6% in the second quarter. Advisor Group Inc. now owns 8,107 shares of the company’s stock worth $191,000 after purchasing an additional 8,000 shares during the period. UBS Group AG lifted its position in Red Rock Resorts by 340.6% in the first quarter. UBS Group AG now owns 8,698 shares of the company’s stock worth $193,000 after purchasing an additional 6,724 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its position in Red Rock Resorts by 123.3% in the second quarter. BNP Paribas Arbitrage SA now owns 8,521 shares of the company’s stock worth $201,000 after purchasing an additional 4,705 shares during the period. Hedge funds and other institutional investors own 62.52% 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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