Vaughan Nelson Investment Management L.P. Has $92.28 Million Position in Red Rock Resorts, Inc. $RRR

Vaughan Nelson Investment Management L.P. increased its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 10.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,773,603 shares of the company’s stock after buying an additional 171,235 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 1.67% of Red Rock Resorts worth $92,281,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Eminence Capital LP grew its position in Red Rock Resorts by 20.5% during the first quarter. Eminence Capital LP now owns 2,478,311 shares of the company’s stock worth $107,484,000 after buying an additional 421,723 shares in the last quarter. Millennium Management LLC grew its position in Red Rock Resorts by 56.2% during the first quarter. Millennium Management LLC now owns 430,150 shares of the company’s stock worth $18,656,000 after buying an additional 154,839 shares in the last quarter. Comerica Bank grew its position in Red Rock Resorts by 4.6% during the first quarter. Comerica Bank now owns 377,976 shares of the company’s stock worth $16,393,000 after buying an additional 16,496 shares in the last quarter. Natixis Advisors LLC grew its position in Red Rock Resorts by 14.5% during the first quarter. Natixis Advisors LLC now owns 287,409 shares of the company’s stock worth $12,465,000 after buying an additional 36,338 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Red Rock Resorts during the first quarter worth approximately $11,025,000. Institutional investors and hedge funds own 47.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RRR shares. Mizuho increased their price target on Red Rock Resorts from $59.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Stifel Nicolaus set a $60.00 target price on Red Rock Resorts and gave the company a “hold” rating in a report on Wednesday, July 30th. JMP Securities raised their target price on Red Rock Resorts from $64.00 to $65.00 and gave the company a “market outperform” rating in a report on Tuesday, September 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Red Rock Resorts in a report on Saturday, September 27th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Red Rock Resorts in a report on Tuesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $60.82.

Insider Activity at Red Rock Resorts

In related news, EVP Jeffrey T. Welch sold 56,653 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $60.23, for a total transaction of $3,412,210.19. Following the completion of the transaction, the executive vice president directly owned 314,767 shares of the company’s stock, valued at $18,958,416.41. This trade represents a 15.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Kord Nichols sold 37,075 shares of Red Rock Resorts stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $61.03, for a total value of $2,262,687.25. Following the transaction, the chief operating officer directly owned 87,036 shares in the company, valued at $5,311,807.08. The trade was a 29.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 262,703 shares of company stock valued at $15,764,672 in the last 90 days. 53.81% of the stock is owned by corporate insiders.

Red Rock Resorts Trading Down 1.7%

NASDAQ RRR opened at $60.40 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 11.28. Red Rock Resorts, Inc. has a twelve month low of $35.09 and a twelve month high of $63.60. The company has a market cap of $6.37 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 2.48 and a beta of 1.47. The business’s fifty day moving average is $60.44 and its 200 day moving average is $51.85.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.55. Red Rock Resorts had a return on equity of 59.97% and a net margin of 8.89%.The company had revenue of $526.27 million for the quarter, compared to the consensus estimate of $485.44 million. During the same quarter last year, the business posted $0.59 EPS. Red Rock Resorts’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, sell-side analysts expect that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.7%. Red Rock Resorts’s dividend payout ratio (DPR) is 34.01%.

Red Rock Resorts Company 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.