Red Rock Resorts, Inc. (RRR) Coverage Initiated by Analysts at SunTrust Banks, Inc.
SunTrust Banks, Inc. assumed coverage on shares of Red Rock Resorts, Inc. (NASDAQ:RRR) in a research report sent to investors on Thursday. The brokerage issued a buy rating and a $26.00 price target on the stock.
A number of other research firms have also recently commented on RRR. Zacks Investment Research raised shares of Red Rock Resorts from a strong sell rating to a hold rating in a report on Thursday, August 17th. Stifel Nicolaus reaffirmed a buy rating and issued a $27.00 price target on shares of Red Rock Resorts in a report on Friday, July 14th. ValuEngine raised shares of Red Rock Resorts from a hold rating to a buy rating in a report on Friday, September 8th. Finally, Bank of America Corporation reaffirmed a buy rating and issued a $26.00 price target (up previously from $24.50) on shares of Red Rock Resorts in a report on Monday, June 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. The company has an average rating of Buy and an average target price of $26.23.
Red Rock Resorts (NASDAQ RRR) traded up 1.467% during trading on Thursday, hitting $22.901. The stock had a trading volume of 944,695 shares. Red Rock Resorts has a 1-year low of $21.07 and a 1-year high of $24.67. The firm has a 50 day moving average price of $22.63 and a 200-day moving average price of $22.35. The firm has a market capitalization of $1.55 billion, a PE ratio of 58.272 and a beta of 0.69.
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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Tuesday, August 15th were paid a $0.10 dividend. The ex-dividend date was Friday, August 11th. This represents a $0.40 dividend on an annualized basis and a yield of 1.77%. Red Rock Resorts’s dividend payout ratio is 83.33%.
A number of institutional investors have recently added to or reduced their stakes in RRR. Fifth Third Bancorp grew its stake in Red Rock Resorts by 100.9% in the 1st 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 in the last quarter. Ameritas Investment Partners Inc. grew its stake in Red Rock Resorts by 154.6% in the 2nd 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 in the last quarter. Advisor Group Inc. grew its stake in Red Rock Resorts by 7,476.6% in the 2nd quarter. Advisor Group Inc. now owns 8,107 shares of the company’s stock valued at $191,000 after buying an additional 8,000 shares in the last quarter. UBS Group AG grew its stake in Red Rock Resorts by 340.6% in the 1st quarter. UBS Group AG now owns 8,698 shares of the company’s stock valued at $193,000 after buying an additional 6,724 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in Red Rock Resorts by 123.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,521 shares of the company’s stock valued at $201,000 after buying an additional 4,705 shares in the last quarter. Institutional investors and hedge funds own 62.52% of the company’s stock.
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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