Victory Capital Management Inc. Has $490,000 Stake in Red Rock Resorts, Inc. (NASDAQ:RRR)

Victory Capital Management Inc. decreased its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 92.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,925 shares of the company’s stock after selling 109,900 shares during the quarter. Victory Capital Management Inc.’s holdings in Red Rock Resorts were worth $490,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of RRR. Capital World Investors acquired a new stake in shares of Red Rock Resorts during the 4th quarter worth approximately $24,897,000. Eminence Capital LP grew its position in shares of Red Rock Resorts by 21.1% during the 4th quarter. Eminence Capital LP now owns 2,373,556 shares of the company’s stock worth $126,582,000 after buying an additional 413,871 shares during the period. Hantz Financial Services Inc. acquired a new stake in shares of Red Rock Resorts during the 2nd quarter worth approximately $14,384,000. Vaughan Nelson Investment Management L.P. grew its position in shares of Red Rock Resorts by 26.7% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company’s stock worth $65,706,000 after buying an additional 251,855 shares during the period. Finally, Norges Bank acquired a new stake in shares of Red Rock Resorts during the 4th quarter worth approximately $12,880,000. Institutional investors and hedge funds own 47.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on RRR shares. Morgan Stanley raised their price objective on shares of Red Rock Resorts from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. increased their target price on Red Rock Resorts from $62.00 to $69.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Barclays increased their target price on Red Rock Resorts from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Susquehanna increased their target price on Red Rock Resorts from $63.00 to $70.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Finally, Stifel Nicolaus increased their target price on Red Rock Resorts from $59.00 to $62.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $63.50.

Insider Buying and Selling

In other news, VP Lorenzo J. Fertitta acquired 33,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average price of $54.49 per share, with a total value of $1,798,170.00. Following the acquisition, the vice president now owns 47,480,301 shares in the company, valued at approximately $2,587,201,601.49. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Red Rock Resorts news, CEO Frank J. Fertitta III purchased 67,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was purchased at an average price of $54.49 per share, for a total transaction of $3,650,830.00. Following the transaction, the chief executive officer now owns 45,914,301 shares in the company, valued at approximately $2,501,870,261.49. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Lorenzo J. Fertitta bought 33,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average price of $54.49 per share, with a total value of $1,798,170.00. Following the transaction, the vice president now directly owns 47,480,301 shares in the company, valued at $2,587,201,601.49. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 200,000 shares of company stock valued at $10,426,000. 53.28% of the stock is owned by insiders.

Red Rock Resorts Price Performance

Shares of NASDAQ:RRR opened at $53.41 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 15.15. The stock’s fifty day simple moving average is $55.90 and its two-hundred day simple moving average is $55.25. Red Rock Resorts, Inc. has a 1-year low of $37.82 and a 1-year high of $63.28. The stock has a market cap of $5.64 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 5.36 and a beta of 2.04.

Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Tuesday, July 23rd. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.16. Red Rock Resorts had a return on equity of 83.84% and a net margin of 9.21%. The company had revenue of $486.40 million for the quarter, compared to analysts’ expectations of $475.80 million. During the same period in the previous year, the business posted $0.65 EPS. The business’s revenue for the quarter was up 16.9% compared to the same quarter last year. As a group, analysts forecast that Red Rock Resorts, Inc. will post 1.61 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Monday, September 16th. Red Rock Resorts’s dividend payout ratio (DPR) is currently 34.72%.

Red Rock Resorts Profile

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.