Red Rock Resorts (NASDAQ:RRR) Given Hold Rating at Jefferies Financial Group

Jefferies Financial Group restated their hold rating on shares of Red Rock Resorts (NASDAQ:RRR) in a research report sent to investors on Friday morning, MarketBeat.com reports. The brokerage currently has a $51.00 target price on the stock, down from their previous target price of $64.00.

Several other equities analysts have also recently issued reports on the stock. Mizuho cut shares of Red Rock Resorts from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $57.00 to $44.00 in a research report on Monday, November 25th. Barclays decreased their price objective on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Wells Fargo & Company cut their target price on Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Truist Financial decreased their price target on Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $65.00 price objective on shares of Red Rock Resorts in a research note on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Red Rock Resorts currently has an average rating of “Hold” and a consensus price target of $59.69.

Red Rock Resorts Stock Performance

Shares of Red Rock Resorts stock opened at $44.91 on Friday. The company’s 50 day moving average price is $49.69 and its two-hundred day moving average price is $53.06. The firm has a market capitalization of $4.74 billion, a P/E ratio of 16.63, a P/E/G ratio of 6.69 and a beta of 2.01. 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 fifty-two week low of $43.64 and a fifty-two week high of $63.28.

Red Rock Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.23%. Red Rock Resorts’s payout ratio is presently 37.04%.

Hedge Funds Weigh In On Red Rock Resorts

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its holdings in Red Rock Resorts by 6.6% during the second quarter. Bank of New York Mellon Corp now owns 404,153 shares of the company’s stock worth $22,200,000 after buying an additional 24,992 shares during the last quarter. Rhumbline Advisers boosted its stake in Red Rock Resorts by 4.3% during the 2nd quarter. Rhumbline Advisers now owns 76,663 shares of the company’s stock valued at $4,211,000 after purchasing an additional 3,146 shares during the last quarter. Arizona State Retirement System increased its holdings in Red Rock Resorts by 3.3% during the 2nd quarter. Arizona State Retirement System now owns 14,086 shares of the company’s stock worth $774,000 after purchasing an additional 444 shares in the last quarter. Malaga Cove Capital LLC increased its holdings in Red Rock Resorts by 54.5% during the 2nd quarter. Malaga Cove Capital LLC now owns 9,114 shares of the company’s stock worth $501,000 after purchasing an additional 3,215 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Red Rock Resorts by 9.8% in the second quarter. American Century Companies Inc. now owns 34,521 shares of the company’s stock valued at $1,896,000 after purchasing an additional 3,084 shares in the last quarter. Institutional investors own 47.84% of the company’s stock.

About Red Rock Resorts

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.