Red Rock Resorts, Inc. (NASDAQ:RRR) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday.
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. “
Several other research analysts have also recently issued reports on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $27.00 price objective on shares of Red Rock Resorts in a report on Friday, July 14th. Bank of America Corporation reiterated a “buy” rating and issued a $26.00 price objective (up from $24.50) on shares of Red Rock Resorts in a report on Monday, June 5th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $26.25.
Shares of Red Rock Resorts (NASDAQ:RRR) opened at 21.65 on Thursday. Red Rock Resorts has a 52-week low of $20.58 and a 52-week high of $24.94. The stock’s 50 day moving average is $23.46 and its 200-day moving average is $23.12. The firm has a market capitalization of $1.47 billion, a P/E ratio of 55.09 and a beta of 0.51.
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Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio boosted its position in Red Rock Resorts by 14.3% in the second quarter. Public Employees Retirement System of Ohio now owns 101,294 shares of the company’s stock valued at $2,385,000 after buying an additional 12,647 shares during the period. Ameritas Investment Partners Inc. raised its stake in 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 in the last quarter. California State Teachers Retirement System raised its stake in Red Rock Resorts by 103.2% in the second quarter. California State Teachers Retirement System now owns 120,408 shares of the company’s stock valued at $2,836,000 after buying an additional 61,164 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Red Rock Resorts by 106.3% in the second quarter. The Manufacturers Life Insurance Company now owns 53,546 shares of the company’s stock valued at $1,261,000 after buying an additional 27,591 shares in the last quarter. Finally, State Street Corp raised its stake in Red Rock Resorts by 109.5% in the second quarter. State Street Corp now owns 1,155,397 shares of the company’s stock valued at $27,210,000 after buying an additional 604,001 shares in the last quarter. Institutional investors and hedge funds own 59.47% of the company’s stock.
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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