Red Rock Resorts Inc (NASDAQ:RRR) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Friday.
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 research firms have also recently commented on RRR. Stifel Nicolaus reaffirmed a “buy” rating and set a $27.00 price target on shares of Red Rock Resorts in a research note on Friday, July 14th. Bank of America Corporation reaffirmed a “buy” rating and set a $26.00 price target (up from $24.50) on shares of Red Rock Resorts in a research note on Monday, June 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $26.14.
Shares of Red Rock Resorts (RRR) opened at 22.26 on Friday. Red Rock Resorts has a 12-month low of $20.58 and a 12-month high of $24.94. The stock’s market capitalization is $1.46 billion. The stock’s 50 day moving average is $23.77 and its 200-day moving average is $23.19.
A number of large investors have recently added to or reduced their stakes in the stock. Creative Planning boosted its stake in Red Rock Resorts by 14,324.5% in the first quarter. Creative Planning now owns 28,849 shares of the company’s stock valued at $640,000 after buying an additional 28,649 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in Red Rock Resorts during the first quarter valued at about $684,000. Bank of New York Mellon Corp boosted its stake in Red Rock Resorts by 9.9% in the first quarter. Bank of New York Mellon Corp now owns 387,420 shares of the company’s stock valued at $8,593,000 after buying an additional 34,778 shares during the period. Oxford Asset Management bought a new stake in Red Rock Resorts during the first quarter valued at about $1,558,000. Finally, KRV Capital LP bought a new stake in Red Rock Resorts during the first quarter valued at about $8,428,000. 58.14% of the stock is owned by institutional investors.
About Red Rock Resorts
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Red Rock Resorts Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Rock Resorts Inc and related companies with MarketBeat.com's FREE daily email newsletter.