Red Rock Resorts Inc’s filing revealed that its EVP & Chief Financial Officer Cootey Stephen Lawrence unloaded Company’s shares for reported $0.43 million on Feb 23 ’24. In the deal valued at $57.74 per share,7,520 shares were sold. As a result of this transaction, Cootey Stephen Lawrence now holds 243,808 shares worth roughly $14.54 million.
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Mizuho initiated its Red Rock Resorts Inc [RRR] rating to a Buy in a research note published on March 26, 2024; the price target was $69. A number of analysts have revised their coverage, including Barclays’s analysts, who began to cover the stock in mid January with a ‘”an Overweight”‘ rating. Macquarie also remained covering RRR and has increased its forecast on January 17, 2024 with a “an Outperform” recommendation from previously “Neutral” rating. Morgan Stanley revised its rating on January 09, 2024. It rated RRR as “an Equal-weight” which previously was an “an Overweight”.
Price Performance Review of RRR
On Tuesday, Red Rock Resorts Inc [NASDAQ:RRR] saw its stock jump 4.21% to $59.64. Over the last five days, the stock has gained 8.16%. Red Rock Resorts Inc shares have risen nearly 13.79% since the year began. Nevertheless, the stocks have risen 43.67% over the past one year. While a 52-week high of $58.59 was reached on 03/26/24, a 52-week low of $37.17 was recorded on 01/16/24. SMA at 50 days reached $56.11, while 200 days put it at $48.07. A total of 0.3 million shares were traded, compared to the trading of 0.32 million shares in the previous session.
Levels Of Support And Resistance For RRR Stock
The 24-hour chart illustrates a support level at 58.19, which if violated will result in even more drops to 56.74. On the upside, there is a resistance level at 60.49. A further resistance level may holdings at 61.34. The Relative Strength Index (RSI) on the 14-day chart is 65.44, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.02, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 4.71%. Stochastics %K at 68.56% indicates the stock is a holding.
How much short interest is there in Red Rock Resorts Inc?
A steep rise in short interest was recorded in Red Rock Resorts Inc stocks on Feb 29, 2024, dropping by -0.28 million shares to a total of 1.74 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 2.02 million shares. There was a decline of -16.09%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 4.14% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.64.
The most recent change occurred on September 11, 2023 when Susquehanna began covering the stock and recommended ‘”a Positive”‘ rating along with a $52 price target.
