VELA Investment Management LLC Invests $256,000 in Red Rock Resorts, Inc. (NASDAQ:RRR)

VELA Investment Management LLC bought a new position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) during the 4th quarter, Holdings Channel.com reports. The fund bought 4,808 shares of the company’s stock, valued at approximately $256,000.

Several other institutional investors have also made changes to their positions in RRR. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in Red Rock Resorts in the first quarter valued at approximately $30,000. Lazard Asset Management LLC acquired a new stake in shares of Red Rock Resorts during the 4th quarter valued at $34,000. Tower Research Capital LLC TRC grew its position in Red Rock Resorts by 601.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,283 shares of the company’s stock worth $57,000 after acquiring an additional 1,100 shares during the last quarter. Quantbot Technologies LP acquired a new position in Red Rock Resorts in the 2nd quarter worth about $92,000. Finally, State of Wyoming acquired a new position in Red Rock Resorts in the 4th quarter worth about $113,000. 47.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Red Rock Resorts

In other Red Rock Resorts news, CFO Stephen Lawrence Cootey sold 7,520 shares of Red Rock Resorts stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $57.74, for a total value of $434,204.80. Following the transaction, the chief financial officer now directly owns 243,808 shares of the company’s stock, valued at approximately $14,077,473.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 54.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Red Rock Resorts from $63.00 to $69.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Stifel Nicolaus boosted their price objective on shares of Red Rock Resorts from $47.00 to $54.00 and gave the stock a “hold” rating in a research note on Thursday, December 21st. Deutsche Bank Aktiengesellschaft increased their price objective on Red Rock Resorts from $54.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Bank of America lifted their target price on shares of Red Rock Resorts from $52.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company boosted their price objective on Red Rock Resorts from $57.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Red Rock Resorts presently has a consensus rating of “Moderate Buy” and an average price target of $60.67.

Red Rock Resorts Price Performance

Red Rock Resorts stock traded down $0.99 during midday trading on Tuesday, reaching $58.97. 47,997 shares of the stock were exchanged, compared to its average volume of 402,881. The company’s fifty day moving average is $58.17 and its 200-day moving average is $50.78. The company has a debt-to-equity ratio of 13.54, a quick ratio of 0.76 and a current ratio of 0.81. Red Rock Resorts, Inc. has a 52 week low of $37.82 and a 52 week high of $63.28. The firm has a market cap of $6.20 billion, a PE ratio of 20.46, a PEG ratio of 3.08 and a beta of 2.06.

Red Rock Resorts (NASDAQ:RRR) last released its earnings results on Wednesday, February 7th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.55. The business had revenue of $462.71 million for the quarter, compared to analysts’ expectations of $440.75 million. Red Rock Resorts had a return on equity of 114.32% and a net margin of 10.21%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.00 earnings per share. On average, sell-side analysts forecast that Red Rock Resorts, Inc. will post 1.93 EPS for the current year.

Red Rock Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Thursday, March 14th. Red Rock Resorts’s dividend payout ratio is presently 33.90%.

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.