Red Rock Resorts (RRR) Trading Up 8.3%

Red Rock Resorts Inc (NASDAQ:RRR) was up 8.3% during mid-day trading on Thursday . The stock traded as high as $25.27 and last traded at $25.07. Approximately 1,248,441 shares were traded during mid-day trading, an increase of 74% from the average daily volume of 716,182 shares. The stock had previously closed at $23.14.

Several equities research analysts have recently issued reports on RRR shares. SunTrust Banks restated a “buy” rating and issued a $38.00 price objective on shares of Red Rock Resorts in a research note on Thursday, August 16th. BidaskClub downgraded shares of Red Rock Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Zacks Investment Research downgraded shares of Red Rock Resorts from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. ValuEngine downgraded shares of Red Rock Resorts from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. Finally, TheStreet downgraded shares of Red Rock Resorts from a “b-” rating to a “c” rating in a research note on Monday, September 24th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $35.30.

The company has a debt-to-equity ratio of 3.23, a quick ratio of 0.63 and a current ratio of 0.67. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 40.44 and a beta of 1.56.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings results on Tuesday, July 31st. The company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.08. Red Rock Resorts had a net margin of 10.74% and a return on equity of 13.23%. The firm had revenue of $416.19 million for the quarter, compared to the consensus estimate of $408.46 million. As a group, equities research analysts expect that Red Rock Resorts Inc will post 1.27 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC lifted its holdings in shares of Red Rock Resorts by 78.0% during the second quarter. Millennium Management LLC now owns 1,772,281 shares of the company’s stock valued at $59,371,000 after acquiring an additional 776,617 shares during the period. Marshall Wace LLP bought a new position in shares of Red Rock Resorts during the second quarter valued at $20,864,000. BlackRock Inc. lifted its holdings in shares of Red Rock Resorts by 7.5% during the second quarter. BlackRock Inc. now owns 4,575,902 shares of the company’s stock valued at $153,294,000 after acquiring an additional 319,277 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Red Rock Resorts by 33.5% during the third quarter. Victory Capital Management Inc. now owns 1,128,972 shares of the company’s stock valued at $30,087,000 after acquiring an additional 282,985 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of Red Rock Resorts during the second quarter valued at $6,402,000. Hedge funds and other institutional investors own 61.14% of the company’s stock.

About Red Rock Resorts (NASDAQ:RRR)

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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