JMP Securities Lowers Red Rock Resorts (NASDAQ:RRR) Price Target to $57.00

Red Rock Resorts (NASDAQ:RRR) had its price target trimmed by JMP Securities from $61.00 to $57.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

Several other equities analysts have also commented on RRR. Wells Fargo & Company lowered their price target on shares of Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Jefferies Financial Group reissued a “hold” rating and set a $51.00 target price (down from $64.00) on shares of Red Rock Resorts in a research note on Friday, January 3rd. Barclays dropped their price target on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Mizuho downgraded Red Rock Resorts from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $57.00 to $44.00 in a research report on Monday, November 25th. Finally, Truist Financial lowered their target price on Red Rock Resorts from $56.00 to $49.00 and set a “hold” rating on the stock in a research report on Tuesday. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Red Rock Resorts presently has a consensus rating of “Hold” and a consensus price target of $58.38.

Red Rock Resorts Trading Up 0.4 %

NASDAQ:RRR opened at $46.74 on Thursday. The firm has a market capitalization of $4.94 billion, a P/E ratio of 17.31, a P/E/G ratio of 4.75 and a beta of 2.01. The business has a 50 day simple moving average of $48.32 and a 200 day simple moving average of $52.59. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. Red Rock Resorts has a 12-month low of $42.46 and a 12-month high of $63.28.

Red Rock Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.25 dividend. The ex-dividend date was Monday, December 16th. This represents a $1.00 annualized dividend and a dividend yield of 2.14%. Red Rock Resorts’s dividend payout ratio is currently 37.04%.

Institutional Trading of Red Rock Resorts

Several institutional investors and hedge funds have recently added to or reduced their stakes in RRR. Quarry LP grew its position in Red Rock Resorts by 479.4% in the third quarter. Quarry LP now owns 1,124 shares of the company’s stock worth $61,000 after buying an additional 930 shares during the last quarter. US Bancorp DE boosted its stake in shares of Red Rock Resorts by 2,223.9% during the 3rd quarter. US Bancorp DE now owns 1,557 shares of the company’s stock worth $85,000 after acquiring an additional 1,490 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of Red Rock Resorts in the 2nd quarter worth $98,000. nVerses Capital LLC raised its position in shares of Red Rock Resorts by 28.6% during the third quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock worth $196,000 after purchasing an additional 800 shares during the period. Finally, Mayfair Advisory Group LLC lifted its holdings in shares of Red Rock Resorts by 15.1% during the fourth quarter. Mayfair Advisory Group LLC now owns 4,497 shares of the company’s stock valued at $208,000 after purchasing an additional 591 shares during the last quarter. 47.84% of the stock is owned by institutional investors and hedge funds.

Red Rock Resorts Company Profile

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.