Red Rock Resorts (NASDAQ:RRR) Reaches New 12-Month Low – Time to Sell?

Red Rock Resorts, Inc. (NASDAQ:RRR)’s share price hit a new 52-week low on Friday . The company traded as low as $42.61 and last traded at $43.10, with a volume of 23451 shares traded. The stock had previously closed at $43.94.

Wall Street Analysts Forecast Growth

RRR has been the topic of a number of analyst reports. Truist Financial dropped their target price on Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. Jefferies Financial Group restated a “hold” rating and issued a $51.00 price objective (down from $64.00) on shares of Red Rock Resorts in a research report on Friday, January 3rd. Mizuho lowered Red Rock Resorts from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $57.00 to $44.00 in a research report on Monday, November 25th. Barclays cut their price target on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Finally, Macquarie decreased their price objective on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $59.69.

Red Rock Resorts Stock Performance

The stock has a 50-day moving average of $48.81 and a 200 day moving average of $52.78. The stock has a market cap of $4.56 billion, a PE ratio of 16.00, a P/E/G ratio of 6.69 and a beta of 2.01. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28.

Red Rock Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.25 per share. The ex-dividend date was Monday, December 16th. This represents a $1.00 annualized dividend and a dividend yield of 2.32%. Red Rock Resorts’s payout ratio is 37.04%.

Institutional Trading of Red Rock Resorts

Hedge funds and other institutional investors have recently made changes to their positions in the company. Long Pond Capital LP purchased a new stake in Red Rock Resorts in the 2nd quarter valued at about $21,987,000. Eminence Capital LP lifted its holdings in shares of Red Rock Resorts by 23.7% in the 2nd quarter. Eminence Capital LP now owns 1,952,754 shares of the company’s stock worth $107,265,000 after acquiring an additional 374,128 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Red Rock Resorts by 4,050.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 333,769 shares of the company’s stock worth $18,170,000 after purchasing an additional 325,727 shares during the period. Wellington Management Group LLP increased its holdings in Red Rock Resorts by 239.0% in the 3rd quarter. Wellington Management Group LLP now owns 185,018 shares of the company’s stock valued at $10,072,000 after purchasing an additional 130,434 shares during the last quarter. Finally, Bamco Inc. NY raised its position in Red Rock Resorts by 1.0% in the third quarter. Bamco Inc. NY now owns 10,623,284 shares of the company’s stock valued at $578,332,000 after purchasing an additional 106,509 shares during the period. Institutional investors and hedge funds own 47.84% of the company’s stock.

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.