Red Rock Resorts (RRR) Coverage Initiated by Analysts at Telsey Advisory Group
Telsey Advisory Group initiated coverage on shares of Red Rock Resorts (NASDAQ:RRR) in a research note published on Tuesday morning, The Fly reports. The firm issued a market perform rating on the stock.
RRR has been the subject of several other research reports. Zacks Investment Research cut shares of Red Rock Resorts from a hold rating to a sell rating in a report on Wednesday, January 24th. JPMorgan Chase & Co. reissued a buy rating and set a $33.00 target price on shares of Red Rock Resorts in a report on Tuesday, November 28th. ValuEngine raised shares of Red Rock Resorts from a hold rating to a buy rating in a report on Saturday, February 17th. Deutsche Bank reissued a buy rating and set a $35.00 target price on shares of Red Rock Resorts in a report on Tuesday, November 28th. Finally, BidaskClub cut shares of Red Rock Resorts from a buy rating to a hold rating in a report on Tuesday, February 13th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $32.86.
Shares of Red Rock Resorts (RRR) opened at $32.02 on Tuesday. Red Rock Resorts has a one year low of $21.07 and a one year high of $35.77. The company has a current ratio of 1.43, a quick ratio of 1.38 and a debt-to-equity ratio of 4.06. The company has a market cap of $3,760.00 and a price-to-earnings ratio of 25.21.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Thursday, March 15th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $0.40 dividend on an annualized basis and a yield of 1.25%. Red Rock Resorts’s payout ratio is 31.50%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC increased its holdings in Red Rock Resorts by 302.0% in the third quarter. Cubist Systematic Strategies LLC now owns 5,801 shares of the company’s stock valued at $134,000 after buying an additional 4,358 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Red Rock Resorts by 763.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,964 shares of the company’s stock valued at $134,000 after buying an additional 3,505 shares in the last quarter. Verity Asset Management Inc. purchased a new position in Red Rock Resorts in the fourth quarter valued at $211,000. California Public Employees Retirement System purchased a new position in Red Rock Resorts in the second quarter valued at $212,000. Finally, Guggenheim Capital LLC purchased a new position in Red Rock Resorts in the fourth quarter valued at $224,000. 63.24% of the stock is owned by institutional investors.
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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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