Red Rock Resorts Target of Unusually Large Options Trading (RRR)


Red Rock Resorts Inc (NASDAQ:RRR) was the target of some unusual options trading activity on Thursday. Investors acquired 1,886 put options on the stock. This is an increase of approximately 1,036% compared to the average volume of 166 put options.


Red Rock Resorts opened at $32.86 on Friday, Marketbeat Ratings reports. The stock has a market capitalization of $3.96 billion, a P/E ratio of 53.00 and a beta of 1.65. Red Rock Resorts has a 12 month low of $21.41 and a 12 month high of $36.99. The company has a current ratio of 1.09, a quick ratio of 1.04 and a debt-to-equity ratio of 3.67.

Get Red Rock Resorts alerts:

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings results on Tuesday, May 1st. The company reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.04. The company had revenue of $421.04 million for the quarter, compared to the consensus estimate of $411.13 million. Red Rock Resorts had a net margin of 10.74% and a return on equity of 14.03%. equities research analysts expect that Red Rock Resorts will post 1.3 EPS for the current fiscal year.


The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Thursday, September 13th. Red Rock Resorts’s dividend payout ratio is presently 64.52%.

Several brokerages have recently weighed in on RRR. BidaskClub downgraded shares of Red Rock Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Zacks Investment Research raised shares of Red Rock Resorts from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Saturday, July 21st. Nomura began coverage on shares of Red Rock Resorts in a research note on Tuesday, May 8th. They issued a “buy” rating and a $39.00 target price on the stock. Finally, Citigroup reduced their target price on shares of Red Rock Resorts from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, May 2nd. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $34.10.


Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC grew its holdings in Red Rock Resorts by 86.0% during the 1st quarter. SG Americas Securities LLC now owns 5,640 shares of the company’s stock worth $165,000 after acquiring an additional 2,607 shares in the last quarter. Quantbot Technologies LP bought a new position in Red Rock Resorts during the 1st quarter worth about $198,000. Guggenheim Capital LLC bought a new position in Red Rock Resorts during the 4th quarter worth about $224,000. Quantitative Systematic Strategies LLC bought a new position in Red Rock Resorts during the 1st quarter worth about $270,000. Finally, Prudential Financial Inc. grew its holdings in Red Rock Resorts by 39.5% during the 1st quarter. Prudential Financial Inc. now owns 9,330 shares of the company’s stock worth $273,000 after acquiring an additional 2,640 shares in the last quarter. 59.48% of the stock is currently owned by institutional investors.


Red Rock Resorts Company Profile

Red Rock Resorts, Inc, through its interest in Station Holdco and Station LLC, engages in casino entertainment, and gaming and entertainment businesses in the United States. It operates through two segments, Las Vegas operations and Native American management. The company develops, manages, and operates casino entertainment properties; and owns and operates 10 gaming and entertainment facilities, and 10 smaller casinos in the Las Vegas regional market.

Read More: What is a Leveraged Buyout (LBO)?