Vaughan Nelson Investment Management L.P. Has $37.83 Million Stock Position in Red Rock Resorts, Inc. $RRR

Vaughan Nelson Investment Management L.P. lowered its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 610,648 shares of the company’s stock after selling 31,390 shares during the quarter. Vaughan Nelson Investment Management L.P. owned approximately 0.58% of Red Rock Resorts worth $37,830,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Bamco Inc. NY boosted its holdings in Red Rock Resorts by 5.7% in the second quarter. Bamco Inc. NY now owns 12,269,004 shares of the company’s stock valued at $638,356,000 after acquiring an additional 666,593 shares during the last quarter. Vanguard Group Inc. raised its holdings in Red Rock Resorts by 6.7% during the 3rd quarter. Vanguard Group Inc. now owns 5,564,421 shares of the company’s stock worth $339,764,000 after purchasing an additional 349,822 shares during the last quarter. Eminence Capital LP lifted its position in Red Rock Resorts by 23.4% during the 2nd quarter. Eminence Capital LP now owns 3,059,372 shares of the company’s stock valued at $159,179,000 after purchasing an additional 581,061 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Red Rock Resorts by 2,248.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,354,644 shares of the company’s stock valued at $82,715,000 after purchasing an additional 1,296,956 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its stake in shares of Red Rock Resorts by 53.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 793,371 shares of the company’s stock valued at $41,279,000 after purchasing an additional 277,426 shares during the last quarter. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Stock Down 3.2%

Shares of NASDAQ:RRR opened at $52.19 on Tuesday. The company has a 50 day moving average price of $60.83 and a two-hundred day moving average price of $59.93. The company has a debt-to-equity ratio of 10.26, a quick ratio of 0.74 and a current ratio of 0.79. The company has a market capitalization of $5.48 billion, a PE ratio of 16.67, a PEG ratio of 2.24 and a beta of 1.46. Red Rock Resorts, Inc. has a 52 week low of $35.09 and a 52 week high of $68.99.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Tuesday, February 10th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.34. The company had revenue of $511.78 million during the quarter, compared to analyst estimates of $500.90 million. Red Rock Resorts had a net margin of 9.35% and a return on equity of 58.13%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.76 EPS. Analysts forecast that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, March 16th. Red Rock Resorts’s dividend payout ratio is 33.23%.

Analysts Set New Price Targets

RRR has been the subject of a number of recent research reports. Citigroup reissued a “market outperform” rating on shares of Red Rock Resorts in a research note on Tuesday, March 10th. Morgan Stanley set a $62.00 price objective on shares of Red Rock Resorts in a research note on Thursday, February 12th. Susquehanna upped their target price on shares of Red Rock Resorts from $69.00 to $77.00 and gave the company a “positive” rating in a research report on Wednesday, February 11th. Stifel Nicolaus increased their price target on Red Rock Resorts from $71.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Finally, UBS Group set a $73.00 price objective on Red Rock Resorts in a research note on Wednesday, December 24th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.86.

About Red Rock Resorts

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.