Red Rock Resorts (NASDAQ:RRR) Downgraded by Mizuho to Neutral

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

RRR has been the topic of a number of other research reports. Barclays lowered their price objective on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Macquarie lowered their price target 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. 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 for the company in a research report on Thursday, October 17th. Morgan Stanley boosted their target price on Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 4th. Finally, Truist Financial lowered their price target on Red Rock Resorts from $63.00 to $58.00 and set a “hold” rating on the stock in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.42.

Red Rock Resorts Trading Up 0.2 %

NASDAQ:RRR 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 firm has a market capitalization of $5.27 billion, a P/E ratio of 18.47, a P/E/G ratio of 6.26 and a beta of 2.04. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.02 and a quick ratio of 0.96. The business has a 50 day simple moving average of $52.55 and a 200 day simple moving average of $53.61.

Red Rock Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 annualized dividend and a yield of 2.01%. Red Rock Resorts’s dividend payout ratio is 37.04%.

Hedge Funds Weigh In On Red Rock Resorts

Several institutional investors and hedge funds have recently added to or reduced their stakes in RRR. Virtu Financial LLC acquired a new stake in Red Rock Resorts during the third quarter worth $345,000. Geode Capital Management LLC boosted its position in shares of Red Rock Resorts by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,171,267 shares of the company’s stock valued at $63,776,000 after acquiring an additional 14,029 shares in the last quarter. Barclays PLC increased its stake in Red Rock Resorts by 227.9% in the third quarter. Barclays PLC now owns 78,932 shares of the company’s stock valued at $4,297,000 after acquiring an additional 54,863 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Red Rock Resorts in the third quarter worth about $233,000. Finally, Wellington Management Group LLP lifted its stake in Red Rock Resorts by 239.0% during the third quarter. Wellington Management Group LLP now owns 185,018 shares of the company’s stock worth $10,072,000 after purchasing an additional 130,434 shares during the period. 47.84% of the stock is currently owned by institutional investors.

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.