Union Gaming Research downgraded shares of Red Rock Resorts (NASDAQ:RRR) from a buy rating to a hold rating in a report published on Wednesday morning, The Fly reports. They currently have $22.00 target price on the stock, down from their prior target price of $25.00.
Other equities research analysts also recently issued research reports about the company. BidaskClub upgraded Red Rock Resorts from a sell rating to a hold rating in a research report on Wednesday, October 16th. ValuEngine upgraded Red Rock Resorts from a hold rating to a buy rating in a research report on Friday, November 1st. Nomura reduced their target price on Red Rock Resorts from $36.00 to $26.00 and set a buy rating on the stock in a research report on Tuesday, August 27th. Deutsche Bank reaffirmed a buy rating and issued a $25.00 price objective on shares of Red Rock Resorts in a research note on Wednesday. Finally, Stifel Nicolaus set a $22.00 price objective on Red Rock Resorts and gave the company a hold rating in a research note on Wednesday, August 7th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of Hold and a consensus price target of $25.57.
Shares of NASDAQ:RRR traded up $0.21 during trading on Wednesday, reaching $21.52. The stock had a trading volume of 552,100 shares, compared to its average volume of 643,074. Red Rock Resorts has a 1-year low of $16.76 and a 1-year high of $29.80. The company has a debt-to-equity ratio of 3.62, a quick ratio of 0.83 and a current ratio of 0.89. The stock has a market cap of $2.73 billion, a PE ratio of 16.43 and a beta of 2.08. The business has a fifty day moving average price of $21.01 and a 200-day moving average price of $21.80.
In related news, Director Frank J. Fertitta III bought 555,149 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $19.30 per share, with a total value of $10,714,375.70. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lorenzo J. Fertitta bought 9,540 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were bought at an average cost of $19.48 per share, with a total value of $185,839.20. The disclosure for this purchase can be found here. Insiders bought 1,027,509 shares of company stock valued at $19,197,896 over the last ninety days. Insiders own 40.19% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its stake in Red Rock Resorts by 1,848.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,812 shares of the company’s stock worth $37,000 after purchasing an additional 1,719 shares in the last quarter. SG Americas Securities LLC acquired a new position in Red Rock Resorts during the 3rd quarter worth $286,000. First Trust Advisors LP grew its stake in Red Rock Resorts by 105.7% during the 3rd quarter. First Trust Advisors LP now owns 39,419 shares of the company’s stock worth $800,000 after purchasing an additional 20,252 shares in the last quarter. California Public Employees Retirement System grew its stake in Red Rock Resorts by 71.9% during the 3rd quarter. California Public Employees Retirement System now owns 129,218 shares of the company’s stock worth $2,624,000 after purchasing an additional 54,034 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. grew its stake in Red Rock Resorts by 5.8% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 7,283,512 shares of the company’s stock worth $147,892,000 after purchasing an additional 399,811 shares in the last quarter. 65.72% of the stock is owned by hedge funds and other institutional investors.
Red Rock Resorts Company Profile
Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.
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