Red Rock Resorts (NASDAQ:RRR) Stock Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Red Rock Resorts, Inc. (NASDAQ:RRR - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $46.70 and traded as high as $55.27. Red Rock Resorts shares last traded at $54.85, with a volume of 923,597 shares changing hands.

Wall Street Analyst Weigh In

RRR has been the subject of a number of research reports. Mizuho raised shares of Red Rock Resorts from a "neutral" rating to an "outperform" rating and set a $50.00 price target for the company in a report on Monday, June 2nd. Truist Financial reduced their price target on shares of Red Rock Resorts from $56.00 to $45.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Stifel Nicolaus reduced their price target on shares of Red Rock Resorts from $54.00 to $44.00 and set a "hold" rating for the company in a report on Friday, May 2nd. Susquehanna reduced their price target on shares of Red Rock Resorts from $61.00 to $52.00 and set a "positive" rating for the company in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. began coverage on shares of Red Rock Resorts in a report on Monday, June 23rd. They issued an "overweight" rating and a $62.00 price target for the company. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Red Rock Resorts currently has an average rating of "Moderate Buy" and an average price target of $52.55.

Red Rock Resorts Stock Down 2.1%

The stock has a market capitalization of $5.95 billion, a P/E ratio of 21.76, a P/E/G ratio of 5.79 and a beta of 1.62. The firm's fifty day moving average is $49.36 and its 200-day moving average is $46.89. The company has a current ratio of 0.92, a quick ratio of 0.87 and a debt-to-equity ratio of 9.04.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.33. The firm had revenue of $497.86 million during the quarter, compared to analysts' expectations of $499.12 million. Red Rock Resorts had a net margin of 8.01% and a return on equity of 56.45%. The company's quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 EPS. As a group, equities research analysts predict that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The business also recently disclosed an annual dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a $1.00 dividend. This represents a yield of 2.29%. The ex-dividend date was Monday, June 16th. Red Rock Resorts's payout ratio is presently 38.76%.

Institutional Investors Weigh In On Red Rock Resorts

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC increased its position in Red Rock Resorts by 654.7% in the 4th quarter. Sterling Capital Management LLC now owns 883 shares of the company's stock valued at $41,000 after acquiring an additional 766 shares in the last quarter. Pandora Wealth Inc. acquired a new stake in shares of Red Rock Resorts during the 1st quarter worth approximately $43,000. US Bancorp DE grew its position in shares of Red Rock Resorts by 1,664.4% during the 1st quarter. US Bancorp DE now owns 1,041 shares of the company's stock worth $45,000 after buying an additional 982 shares during the period. New Age Alpha Advisors LLC acquired a new stake in shares of Red Rock Resorts during the 1st quarter worth approximately $89,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Red Rock Resorts by 47.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company's stock worth $95,000 after buying an additional 664 shares during the period. Institutional investors and hedge funds own 47.84% of the company's stock.

About Red Rock Resorts

Red Rock Resorts, Inc, through its interest in Station Casinos LLC, develops and operates casino and entertainment properties in the United States. The company owns and operates gaming and entertainment facilities, including Durango Casino & Resort and smaller casinos in the Las Vegas regional market.