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

Vaughan Nelson Investment Management L.P. boosted its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 10.7% during the 2nd quarter, Holdings Channel reports. 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.’s holdings in Red Rock Resorts were worth $92,281,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mayfair Advisory Group LLC raised its position in shares of Red Rock Resorts by 8.1% in the 1st quarter. Mayfair Advisory Group LLC now owns 4,861 shares of the company’s stock worth $211,000 after acquiring an additional 364 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Red Rock Resorts by 3.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 15,651 shares of the company’s stock worth $679,000 after acquiring an additional 456 shares in the last quarter. Truist Financial Corp raised its position in shares of Red Rock Resorts by 2.7% in the 2nd quarter. Truist Financial Corp now owns 28,733 shares of the company’s stock worth $1,495,000 after acquiring an additional 751 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Red Rock Resorts in the 2nd quarter worth about $42,000. Finally, TD Asset Management Inc raised its position in shares of Red Rock Resorts by 2.1% in the 1st quarter. TD Asset Management Inc now owns 40,862 shares of the company’s stock worth $1,772,000 after acquiring an additional 856 shares in the last quarter. 47.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Red Rock Resorts news, CFO Stephen Lawrence Cootey sold 121,400 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $60.04, for a total transaction of $7,288,856.00. Following the completion of the sale, the chief financial officer directly owned 260,268 shares of the company’s stock, valued at approximately $15,626,490.72. The trade was a 31.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey T. Welch sold 56,653 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $60.23, for a total value of $3,412,210.19. Following the sale, the executive vice president directly owned 314,767 shares of the company’s stock, valued at $18,958,416.41. This represents a 15.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 262,703 shares of company stock valued at $15,764,672. Corporate insiders own 53.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RRR. Mizuho lifted their price objective 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 price objective on Red Rock Resorts and gave the stock a “hold” rating in a research report on Wednesday, July 30th. JMP Securities lifted their price objective on Red Rock Resorts from $64.00 to $65.00 and gave the stock a “market outperform” rating in a research report on Tuesday, September 16th. Citigroup reaffirmed an “outperform” rating on shares of Red Rock Resorts in a research report on Tuesday, September 16th. Finally, Morgan Stanley boosted their target price on Red Rock Resorts from $49.00 to $53.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.82.

Red Rock Resorts Stock Performance

Shares of RRR opened at $60.40 on Friday. The company has a debt-to-equity ratio of 11.28, a quick ratio of 0.84 and a current ratio of 0.89. The stock has a 50 day moving average price of $60.44 and a two-hundred day moving average price of $51.85. The firm has a market capitalization of $6.37 billion, a P/E ratio of 20.54, a P/E/G ratio of 2.48 and a beta of 1.47. Red Rock Resorts, Inc. has a 52 week low of $35.09 and a 52 week high of $63.60.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.55. The firm had revenue of $526.27 million during the quarter, compared to analyst estimates of $485.44 million. Red Rock Resorts had a return on equity of 59.97% and a net margin of 8.89%.The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 EPS. Equities analysts forecast that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

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

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.