Zacks Investment Research downgraded shares of Red Rock Resorts, Inc. (NASDAQ:RRR) from a hold rating to a sell rating in a report released on Wednesday.
According to Zacks, “Red Rock Resorts manage and own an indirect equity interest in Station Casinos LLC. Station is the provider of gaming and entertainment primarily in Las Vegas, Nevada. Red Rock Resorts is based in LAS VEGAS, United States. “
A number of other equities research analysts also recently commented on the company. SunTrust Banks, Inc. initiated coverage on Red Rock Resorts in a research report on Thursday, September 14th. They set a buy rating and a $26.00 price objective for the company. BidaskClub downgraded Red Rock Resorts from a sell rating to a strong sell rating in a research report on Friday, September 15th. Stifel Nicolaus reiterated a buy rating and set a $27.00 price objective on shares of Red Rock Resorts in a research report on Friday, July 14th. Finally, ValuEngine upgraded Red Rock Resorts from a hold rating to a buy rating in a research report on Friday, September 8th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $26.39.
Red Rock Resorts (NASDAQ RRR) traded down 0.04% during trading on Wednesday, reaching $23.88. The company’s stock had a trading volume of 1,131,140 shares. The firm has a market capitalization of $1.62 billion, a P/E ratio of 60.76 and a beta of 0.70. Red Rock Resorts has a 52 week low of $20.87 and a 52 week high of $24.94. The firm has a 50-day moving average price of $23.24 and a 200-day moving average price of $23.24.
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A number of large investors have recently made changes to their positions in RRR. Wells Fargo & Company MN raised its stake in Red Rock Resorts by 119.7% during the 1st quarter. Wells Fargo & Company MN now owns 81,721 shares of the company’s stock valued at $1,813,000 after purchasing an additional 44,523 shares during the period. Bank of New York Mellon Corp raised its stake in Red Rock Resorts by 9.9% during the 1st quarter. Bank of New York Mellon Corp now owns 387,420 shares of the company’s stock valued at $8,593,000 after purchasing an additional 34,778 shares during the period. Swiss National Bank raised its stake in Red Rock Resorts by 33.7% during the 1st quarter. Swiss National Bank now owns 68,300 shares of the company’s stock valued at $1,515,000 after purchasing an additional 17,200 shares during the period. Parametric Portfolio Associates LLC acquired a new stake in Red Rock Resorts during the 1st quarter valued at $1,063,000. Finally, SG Americas Securities LLC raised its stake in Red Rock Resorts by 29.8% during the 1st quarter. SG Americas Securities LLC now owns 11,177 shares of the company’s stock valued at $248,000 after purchasing an additional 2,568 shares during the period. 62.52% of the stock is currently owned by institutional investors.
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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