Vaughan Nelson Investment Management L.P. Increases Stake in Red Rock Resorts, Inc. (NASDAQ:RRR)

Vaughan Nelson Investment Management L.P. grew its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR) by 24.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 944,340 shares of the company’s stock after buying an additional 188,095 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Red Rock Resorts were worth $56,491,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of RRR. Charles Schwab Investment Management Inc. grew its holdings in Red Rock Resorts by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 540,756 shares of the company’s stock valued at $28,839,000 after buying an additional 15,629 shares in the last quarter. Natixis Advisors L.P. purchased a new stake in shares of Red Rock Resorts in the fourth quarter valued at about $6,595,000. Capital World Investors purchased a new stake in shares of Red Rock Resorts in the 4th quarter valued at approximately $24,897,000. Norges Bank purchased a new position in Red Rock Resorts in the fourth quarter worth approximately $12,880,000. Finally, Auxano Advisors LLC acquired a new stake in shares of Red Rock Resorts during the 4th quarter worth about $1,341,000. 47.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Red Rock Resorts

In other news, CEO Frank J. Fertitta III sold 800,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $50.39, for a total value of $40,312,000.00. Following the completion of the sale, the chief executive officer now directly owns 45,847,301 shares of the company’s stock, valued at $2,310,245,497.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 53.28% of the stock is owned by company insiders.

Red Rock Resorts Stock Down 0.2 %

Shares of NASDAQ:RRR traded down $0.09 on Tuesday, hitting $53.69. 53,960 shares of the company’s stock were exchanged, compared to its average volume of 450,463. Red Rock Resorts, Inc. has a 1-year low of $37.82 and a 1-year high of $63.28. The company has a market capitalization of $5.67 billion, a PE ratio of 18.67, a P/E/G ratio of 2.62 and a beta of 2.04. The company has a debt-to-equity ratio of 18.49, a quick ratio of 0.85 and a current ratio of 0.90. The firm’s 50-day moving average is $52.21 and its 200 day moving average is $54.62.

Red Rock Resorts (NASDAQ:RRR) last posted its earnings results on Tuesday, May 7th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.18. The firm had revenue of $488.90 million during the quarter, compared to analysts’ expectations of $490.49 million. Red Rock Resorts had a return on equity of 98.44% and a net margin of 9.79%. The firm’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 earnings per share. Sell-side analysts predict that Red Rock Resorts, Inc. will post 1.82 EPS for the current year.

Red Rock Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Friday, June 14th. Red Rock Resorts’s dividend payout ratio (DPR) is 34.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus dropped their price objective on Red Rock Resorts from $61.00 to $59.00 and set a “hold” rating for the company in a research note on Wednesday, May 8th. Bank of America upgraded shares of Red Rock Resorts from an “underperform” rating to a “neutral” rating and cut their price target for the stock from $57.00 to $55.00 in a research note on Monday, May 13th. Truist Financial raised their price objective on shares of Red Rock Resorts from $58.00 to $60.00 and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Morgan Stanley upped their target price on shares of Red Rock Resorts from $51.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Mizuho dropped their price target on shares of Red Rock Resorts from $69.00 to $66.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.58.

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.