Red Rock Resorts (RRR) Shares Up 5.5%

Red Rock Resorts Inc (NASDAQ:RRR) shares shot up 5.5% during mid-day trading on Monday . The company traded as high as $34.99 and last traded at $34.23. 2,504,200 shares changed hands during mid-day trading, an increase of 365% from the average session volume of 538,306 shares. The stock had previously closed at $32.46.

A number of brokerages recently issued reports on RRR. Zacks Investment Research downgraded shares of Red Rock Resorts from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 10th. BidaskClub downgraded shares of Red Rock Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $33.00 price target on shares of Red Rock Resorts in a research note on Tuesday, November 28th. ValuEngine upgraded shares of Red Rock Resorts from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Bank of America boosted their price objective on shares of Red Rock Resorts from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Red Rock Resorts has an average rating of “Buy” and an average price target of $31.43.

The firm has a market cap of $4,040.00 and a PE ratio of 33.79. The company has a debt-to-equity ratio of 4.41, a current ratio of 1.29 and a quick ratio of 1.26.

Several large investors have recently modified their holdings of RRR. UBS Asset Management Americas Inc. purchased a new stake in shares of Red Rock Resorts during the 2nd quarter worth approximately $250,000. Northern Trust Corp lifted its position in shares of Red Rock Resorts by 110.7% during the 2nd quarter. Northern Trust Corp now owns 730,074 shares of the company’s stock worth $17,193,000 after buying an additional 383,520 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Red Rock Resorts by 16.0% during the 2nd quarter. Vanguard Group Inc. now owns 4,831,772 shares of the company’s stock worth $113,788,000 after buying an additional 666,099 shares during the last quarter. California Public Employees Retirement System purchased a new stake in shares of Red Rock Resorts during the 2nd quarter worth approximately $212,000. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Red Rock Resorts during the 2nd quarter worth approximately $1,473,000. Institutional investors and hedge funds own 63.32% of the company’s stock.

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Red Rock Resorts Company Profile

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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