Red Rock Resorts (NASDAQ:RRR) Cut to “Neutral” at Mizuho

Mizuho lowered shares of Red Rock Resorts (NASDAQ:RRR) from an outperform rating to a neutral rating in a research report released on Monday, Marketbeat reports. They currently have $44.00 price objective on the stock, down from their prior price objective of $57.00.

RRR has been the subject of a number of other research reports. Morgan Stanley raised their price objective on Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 4th. Barclays reduced their target price on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. JMP Securities reissued a “market outperform” rating and issued a $65.00 price target on shares of Red Rock Resorts in a report on Monday, October 14th. Truist Financial dropped their price objective on shares of 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, Wells Fargo & Company decreased their target price on shares of Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.42.

Red Rock Resorts Stock Up 0.2 %

Shares of RRR stock opened at $49.86 on Monday. Red Rock Resorts has a 12 month low of $43.38 and a 12 month high of $63.28. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The firm has a market cap of $5.27 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 6.26 and a beta of 2.04. The stock has a 50 day moving average of $52.63 and a 200-day moving average of $53.64.

Red Rock Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 2.01%. Red Rock Resorts’s payout ratio is 37.04%.

Hedge Funds Weigh In On Red Rock Resorts

Several large investors have recently bought and sold shares of the business. Quarry LP increased its holdings in Red Rock Resorts by 479.4% in the third quarter. Quarry LP now owns 1,124 shares of the company’s stock valued at $61,000 after purchasing an additional 930 shares during the last quarter. US Bancorp DE raised its position in shares of Red Rock Resorts by 2,223.9% in the 3rd quarter. US Bancorp DE now owns 1,557 shares of the company’s stock valued at $85,000 after acquiring an additional 1,490 shares during the period. Point72 DIFC Ltd bought a new position in Red Rock Resorts during the 2nd quarter worth approximately $98,000. nVerses Capital LLC bought a new position in Red Rock Resorts during the 2nd quarter worth approximately $154,000. Finally, Mayfair Advisory Group LLC acquired a new position in Red Rock Resorts during the third quarter valued at approximately $218,000. 47.84% of the stock is currently owned by institutional investors and hedge funds.

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.