Red Rock Resorts Inc (NASDAQ:RRR) saw unusually large options trading on Monday. Stock traders purchased 3,747 call options on the stock. This represents an increase of approximately 4,584% compared to the average daily volume of 80 call options.
Red Rock Resorts (NASDAQ RRR) traded down $0.04 during midday trading on Wednesday, hitting $31.98. The company had a trading volume of 369,655 shares, compared to its average volume of 666,431. Red Rock Resorts has a fifty-two week low of $21.07 and a fifty-two week high of $35.77. The company has a quick ratio of 1.38, a current ratio of 1.43 and a debt-to-equity ratio of 4.06. The firm has a market cap of $3,868.93, a PE ratio of 76.14 and a beta of 1.15.
Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. Red Rock Resorts had a return on equity of 16.11% and a net margin of 2.18%. The business had revenue of $394.02 million during the quarter, compared to analysts’ expectations of $406.75 million. sell-side analysts predict that Red Rock Resorts will post 1.19 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Thursday, March 15th will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, March 14th. This represents a $0.40 annualized dividend and a dividend yield of 1.25%. Red Rock Resorts’s dividend payout ratio is presently 95.24%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Verition Fund Management LLC acquired a new position in shares of Red Rock Resorts during the 4th quarter worth about $342,000. Millennium Management LLC acquired a new position in Red Rock Resorts in the 4th quarter valued at approximately $35,370,000. TIAA CREF Investment Management LLC raised its holdings in Red Rock Resorts by 46.2% in the 4th quarter. TIAA CREF Investment Management LLC now owns 1,430,059 shares of the company’s stock valued at $48,250,000 after acquiring an additional 451,588 shares in the last quarter. Teachers Advisors LLC raised its holdings in Red Rock Resorts by 125.5% in the 4th quarter. Teachers Advisors LLC now owns 1,942,818 shares of the company’s stock valued at $65,551,000 after acquiring an additional 1,081,326 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Red Rock Resorts by 7.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,084,781 shares of the company’s stock valued at $36,600,000 after acquiring an additional 76,545 shares in the last quarter. 63.24% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently issued reports on the company. Telsey Advisory Group assumed coverage on Red Rock Resorts in a research note on Tuesday. They set a “market perform” rating and a $32.00 price target for the company. Zacks Investment Research upgraded Red Rock Resorts from a “hold” rating to a “strong-buy” rating and set a $39.00 price target for the company in a research note on Thursday, March 1st. Stifel Nicolaus downgraded Red Rock Resorts from a “buy” rating to a “hold” rating and upped their price target for the stock from $29.00 to $37.00 in a research note on Friday, February 23rd. They noted that the move was a valuation call. ValuEngine upgraded Red Rock Resorts from a “hold” rating to a “buy” rating in a research note on Saturday, February 17th. Finally, BidaskClub downgraded Red Rock Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $32.75.
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About Red Rock Resorts
Red Rock Resorts, Inc is a gaming, development and management company. The Company’s segments include Las Vegas operations, Native American management, and Corporate and other. The Las Vegas operations segment includes all of its Las Vegas area casino properties and the Native American management segment includes its Native American management arrangements.
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