Red Rock Resorts, Inc. (NASDAQ:RRR) Short Interest Up 31.4% in January

Red Rock Resorts, Inc. (NASDAQ:RRR) was the target of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 2,300,000 shares, a growth of 31.4% from the January 15th total of 1,750,000 shares. Currently, 4.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 650,000 shares, the days-to-cover ratio is presently 3.5 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RRR. Barclays PLC raised its stake in shares of Red Rock Resorts by 227.9% during the third quarter. Barclays PLC now owns 78,932 shares of the company’s stock valued at $4,297,000 after acquiring an additional 54,863 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Red Rock Resorts in the third quarter worth $842,000. Westfield Capital Management Co. LP grew its holdings in Red Rock Resorts by 3.5% in the third quarter. Westfield Capital Management Co. LP now owns 1,134,509 shares of the company’s stock worth $61,763,000 after purchasing an additional 38,443 shares during the period. JPMorgan Chase & Co. grew its holdings in Red Rock Resorts by 18.9% in the third quarter. JPMorgan Chase & Co. now owns 89,197 shares of the company’s stock worth $4,856,000 after purchasing an additional 14,148 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Red Rock Resorts by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,171,267 shares of the company’s stock valued at $63,776,000 after buying an additional 14,029 shares during the last quarter. Institutional investors and hedge funds own 47.84% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on RRR. Macquarie reduced their price objective on Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Mizuho lifted their target price on Red Rock Resorts from $44.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday. JMP Securities reduced their price objective on Red Rock Resorts from $61.00 to $57.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 16th. Barclays cut their price target on 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. Finally, Susquehanna boosted their price target on Red Rock Resorts from $60.00 to $61.00 and gave the stock a “positive” rating in a research note on Wednesday. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $57.33.

Red Rock Resorts Price Performance

NASDAQ RRR traded up $0.69 during trading on Friday, reaching $52.79. 620,794 shares of the company traded hands, compared to its average volume of 573,413. The stock’s 50 day moving average price is $47.44 and its two-hundred day moving average price is $51.28. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 5.28 and a beta of 2.02. Red Rock Resorts has a 1-year low of $42.46 and a 1-year high of $63.28. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.96 and a current ratio of 1.02.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.34. Red Rock Resorts had a net margin of 8.59% and a return on equity of 73.20%. As a group, analysts anticipate that Red Rock Resorts will post 1.44 EPS for the current year.

Red Rock Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.89%. Red Rock Resorts’s payout ratio is presently 37.04%.

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.