Red Rock Resorts (NASDAQ:RRR) Sets New 1-Year Low – Should You Sell?

Red Rock Resorts, Inc. (NASDAQ:RRR)’s stock price hit a new 52-week low during trading on Monday . The company traded as low as $50.05 and last traded at $50.0890, with a volume of 89807 shares traded. The stock had previously closed at $50.91.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wolfe Research assumed coverage on shares of Red Rock Resorts in a research note on Wednesday, September 2nd. They issued an “outperform” rating and a $73.00 target price for the company. Wall Street Zen raised shares of Red Rock Resorts from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Jefferies Financial Group reissued a “buy” rating on shares of Red Rock Resorts in a report on Thursday, July 2nd. Morgan Stanley set a $61.00 price objective on shares of Red Rock Resorts in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Company upped their price objective on Red Rock Resorts from $75.00 to $77.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $71.94.

Red Rock Resorts Trading Down 0.9%

The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of 17.83, a P/E/G ratio of 4.18 and a beta of 1.31. The company has a debt-to-equity ratio of 12.33, a quick ratio of 0.63 and a current ratio of 0.68. The business’s 50-day simple moving average is $60.63 and its 200-day simple moving average is $58.84.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.51 by $0.16. The company had revenue of $510.26 million during the quarter, compared to analysts’ expectations of $500.08 million. Red Rock Resorts had a net margin of 8.43% and a return on equity of 56.19%. Red Rock Resorts’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.95 EPS. On average, research analysts expect that Red Rock Resorts, Inc. will post 1.54 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.04 dividend on an annualized basis and a yield of 2.1%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 36.75%.

Insider Buying and Selling

In other Red Rock Resorts news, President Scott Kreeger sold 31,159 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $61.78, for a total transaction of $1,925,003.02. Following the completion of the sale, the president owned 203,881 shares in the company, valued at approximately $12,595,768.18. The trade was a 13.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 54.34% of the company’s stock.

Institutional Investors Weigh In On Red Rock Resorts

A number of institutional investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC bought a new stake in Red Rock Resorts in the second quarter valued at about $500,000. Tidal Investments LLC bought a new position in Red Rock Resorts during the second quarter worth about $217,000. Squarepoint Ops LLC boosted its holdings in Red Rock Resorts by 39.0% during the second quarter. Squarepoint Ops LLC now owns 10,999 shares of the company’s stock worth $716,000 after buying an additional 3,088 shares during the last quarter. Nykredit A S acquired a new position in shares of Red Rock Resorts during the 2nd quarter worth about $45,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Red Rock Resorts during the 2nd quarter worth about $3,220,000. 47.84% of the stock is owned by institutional investors and hedge funds.

About Red Rock Resorts

Red Rock Resorts, Inc is a gaming and entertainment company based in Las Vegas, Nevada. Through its subsidiary Station Casinos, the company owns and operates casino resorts, hotel properties, and neighborhood casinos, with a primary focus on the Southern Nevada market.

Its properties offer casino gaming, hotel accommodations, restaurants, bars, entertainment venues, meeting and event spaces, and other amenities. The portfolio includes Red Rock Casino Resort & Spa, Green Valley Ranch Resort Spa and Casino, Durango Casino & Resort, Palace Station, Boulder Station, Sunset Station, Santa Fe Station, and a number of Wildfire casino locations.