Red Rock Resorts Inc. [RRR] Revenue clocked in at $1.66 billion, down -32.16% YTD: What’s Next?

Red Rock Resorts Inc. [NASDAQ: RRR] closed the trading session at $37.32 on 09/02/22. The day’s price range saw the stock hit a low of $36.94, while the highest price level was $38.39. The company report on August 9, 2022 that Red Rock Resorts Announces Second Quarter 2022 Results.

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Red Rock Resorts, Inc. (“Red Rock Resorts,” “we” or the “Company”) (NASDAQ: RRR) today reported financial results for the second quarter ended June 30, 2022.

During the second quarter the Company continued to operate its Red Rock, Green Valley Ranch, Santa Fe Station, Boulder Station, Palace Station and Sunset Station properties, together with its Wildfire Properties.

The stocks have a year to date performance of -32.16 percent and weekly performance of -7.09 percent. The stock has been moved at -19.72 percent over the last six months. The stock has performed -10.25 percent around the most recent 30 days and changed -5.33 percent over the most recent 3-months.

If compared to the average trading volume of 492.47K shares, RRR reached to a volume of 500135 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Red Rock Resorts Inc. [RRR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RRR shares is $44.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RRR stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Loop Capital have made an estimate for Red Rock Resorts Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on July 11, 2022. While these analysts kept the previous recommendation, Berenberg raised their target price to Buy. The new note on the price target was released on May 12, 2022, representing the official price target for Red Rock Resorts Inc. stock. Previously, the target price had yet another drop from $60 to $55, while Macquarie kept a Neutral rating on RRR stock. On January 10, 2022, analysts decreased their price target for RRR shares from 64 to 50.

The Average True Range (ATR) for Red Rock Resorts Inc. is set at 1.45, with the Price to Sales ratio for RRR stock in the period of the last 12 months amounting to 2.46. The Price to Book ratio for the last quarter was 162.26, with the Price to Cash per share for the same quarter was set at 2.34. Price to Free Cash Flow for RRR in the course of the last twelve months was 16.01 with Quick ratio for the last quarter at 1.60.

RRR stock trade performance evaluation

Red Rock Resorts Inc. [RRR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.09. With this latest performance, RRR shares dropped by -10.25% in over the last four-week period, additionally sinking by -19.72% over the last 6 months – not to mention a drop of -16.23% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RRR stock in for the last two-week period is set at 39.49, with the RSI for the last a single of trading hit 31.77, and the three-weeks RSI is set at 43.91 for Red Rock Resorts Inc. [RRR]. The present Moving Average for the last 50 days of trading for this stock 37.79, while it was recorded at 38.57 for the last single week of trading, and 43.49 for the last 200 days.

Red Rock Resorts Inc. [RRR]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Red Rock Resorts Inc. [RRR] shares currently have an operating margin of +34.65 and a Gross Margin at +56.10. Red Rock Resorts Inc.’s Net Margin is presently recorded at +14.95.

Return on Equity for this stock inclined to 117.38, with Return on Assets sitting at 7.03.

Red Rock Resorts Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.60.

Red Rock Resorts Inc. [RRR]: Insider Ownership positions

There are presently around $2,114 million, or 97.01% of RRR stock, in the hands of institutional investors. The top three institutional holders of RRR stocks are: BAMCO INC /NY/ with ownership of 8,386,545, which is approximately 6.618% of the company’s market cap and around 1.00% of the total institutional ownership; ZEKE CAPITAL ADVISORS, LLC, holding 6,410,689 shares of the stock with an approximate value of $239.25 million in RRR stocks shares; and DIAMOND HILL CAPITAL MANAGEMENT INC, currently with $201.01 million in RRR stock with ownership of nearly 4.833% of the company’s market capitalization.

Positions in Red Rock Resorts Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 91 institutional holders increased their position in Red Rock Resorts Inc. [NASDAQ:RRR] by around 5,261,466 shares. Additionally, 122 investors decreased positions by around 6,233,739 shares, while 26 investors held positions by with 45,139,811 shares. The mentioned changes placed institutional holdings at 56,635,016 shares, according to the latest SEC report filing. RRR stock had 25 new institutional investments in for a total of 1,528,318 shares, while 48 institutional investors sold positions of 2,965,437 shares during the same period.


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