Red Rock Resorts, Inc. (RRR) Given Consensus Recommendation of “Buy” by Brokerages
Red Rock Resorts, Inc. (NASDAQ:RRR) has earned an average recommendation of “Buy” from the twelve research firms that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $26.28.
RRR has been the subject of a number of research reports. Zacks Investment Research cut shares of Red Rock Resorts from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $27.00 target price on shares of Red Rock Resorts in a report on Friday, July 14th. Bank of America Corporation reaffirmed a “buy” rating and issued a $26.00 target price (up from $24.50) on shares of Red Rock Resorts in a report on Monday, June 5th. Finally, ValuEngine raised shares of Red Rock Resorts from a “hold” rating to a “buy” rating in a report on Friday.
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Shares of Red Rock Resorts (RRR) opened at 22.68 on Friday. Red Rock Resorts has a 12 month low of $20.58 and a 12 month high of $24.94. The firm’s 50-day moving average price is $22.91 and its 200 day moving average price is $22.99. The firm has a market capitalization of $1.54 billion, a P/E ratio of 57.71 and a beta of 0.69.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.76%. Red Rock Resorts’s payout ratio is 83.33%.
Several large investors have recently made changes to their positions in RRR. Fifth Third Bancorp raised its holdings in shares of Red Rock Resorts by 100.9% in the first quarter. Fifth Third Bancorp now owns 5,022 shares of the company’s stock valued at $111,000 after buying an additional 2,522 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Red Rock Resorts by 154.6% in the second quarter. Ameritas Investment Partners Inc. now owns 5,966 shares of the company’s stock valued at $140,000 after buying an additional 3,623 shares during the last quarter. Advisor Group Inc. raised its holdings in Red Rock Resorts by 7,476.6% during the second quarter. Advisor Group Inc. now owns 8,107 shares of the company’s stock worth $191,000 after purchasing an additional 8,000 shares in the last quarter. UBS Group AG raised its holdings in Red Rock Resorts by 340.6% during the first quarter. UBS Group AG now owns 8,698 shares of the company’s stock worth $193,000 after purchasing an additional 6,724 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its holdings in Red Rock Resorts by 123.3% during the second quarter. BNP Paribas Arbitrage SA now owns 8,521 shares of the company’s stock worth $201,000 after purchasing an additional 4,705 shares in the last quarter. 62.52% of the stock is owned by institutional investors and hedge funds.
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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