Red Rock Resorts (NASDAQ:RRR) Hits New 52-Week Low – What’s Next?

Red Rock Resorts, Inc. (NASDAQ:RRR)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $50.05 and last traded at $50.0890, with a volume of 89807 shares. The stock had previously closed at $50.91.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RRR. Citizens Jmp raised their price target on shares of Red Rock Resorts from $69.00 to $71.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 5th. Bank of America boosted their price target on shares of Red Rock Resorts from $60.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Capital One Financial raised shares of Red Rock Resorts to a “buy” rating in a research note on Wednesday, September 9th. Wall Street Zen upgraded shares of Red Rock Resorts from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Finally, Benchmark reissued a “buy” rating on shares of Red Rock Resorts in a research note on Monday, August 31st. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $71.94.

Red Rock Resorts Stock Down 3.1%

The business has a 50-day moving average of $60.04 and a 200-day moving average of $58.69. The company has a debt-to-equity ratio of 12.33, a quick ratio of 0.63 and a current ratio of 0.68. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 17.23, a P/E/G ratio of 4.13 and a beta of 1.31.

Red Rock Resorts (NASDAQ:RRR) last posted its earnings results on Tuesday, August 4th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.16. The company had revenue of $510.26 million for the quarter, compared to analysts’ expectations of $500.08 million. Red Rock Resorts had a net margin of 8.43% and a return on equity of 56.19%. Red Rock Resorts’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.95 earnings per share. On average, sell-side analysts expect that Red Rock Resorts, Inc. will post 1.54 EPS for the current year.

Red Rock Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, September 15th. Red Rock Resorts’s dividend payout ratio (DPR) is 36.75%.

Insider Transactions at Red Rock Resorts

In other Red Rock Resorts news, President Scott Kreeger sold 31,159 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $61.78, for a total value of $1,925,003.02. Following the sale, the president owned 203,881 shares of the company’s stock, valued at $12,595,768.18. The trade was a 13.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 54.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Red Rock Resorts

A number of institutional investors have recently modified their holdings of RRR. Valeo Financial Advisors LLC increased its stake in shares of Red Rock Resorts by 4.7% during the second quarter. Valeo Financial Advisors LLC now owns 5,201 shares of the company’s stock worth $338,000 after acquiring an additional 234 shares during the period. Baron Wealth Management LLC raised its holdings in Red Rock Resorts by 3.0% during the first quarter. Baron Wealth Management LLC now owns 15,718 shares of the company’s stock worth $839,000 after purchasing an additional 452 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in Red Rock Resorts by 1,924.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company’s stock valued at $31,000 after purchasing an additional 481 shares during the period. Inceptionr LLC lifted its position in Red Rock Resorts by 3.9% in the first quarter. Inceptionr LLC now owns 13,283 shares of the company’s stock valued at $709,000 after purchasing an additional 499 shares during the period. Finally, Nykredit A S purchased a new stake in Red Rock Resorts in the 2nd quarter valued at approximately $45,000. 47.84% of the stock is owned by institutional investors and hedge funds.

About Red Rock Resorts

Red Rock Resorts, Inc is a gaming and entertainment company based in Las Vegas, Nevada. Through its subsidiary Station Casinos, the company owns and operates casino resorts, hotel properties, and neighborhood casinos, with a primary focus on the Southern Nevada market.

Its properties offer casino gaming, hotel accommodations, restaurants, bars, entertainment venues, meeting and event spaces, and other amenities. The portfolio includes Red Rock Casino Resort & Spa, Green Valley Ranch Resort Spa and Casino, Durango Casino & Resort, Palace Station, Boulder Station, Sunset Station, Santa Fe Station, and a number of Wildfire casino locations.