Vaughan Nelson Investment Management L.P. Purchases 40,295 Shares of Red Rock Resorts, Inc. $RRR

Vaughan Nelson Investment Management L.P. lifted its position in Red Rock Resorts, Inc. (NASDAQ:RRR) by 6.6% in the first quarter, HoldingsChannel.com reports. The firm owned 650,943 shares of the company’s stock after acquiring an additional 40,295 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Red Rock Resorts were worth $34,734,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Salomon & Ludwin LLC acquired a new stake in Red Rock Resorts during the fourth quarter worth $25,000. Kestra Advisory Services LLC bought a new stake in shares of Red Rock Resorts in the 4th quarter valued at approximately $27,000. Rockefeller Capital Management L.P. increased its stake in shares of Red Rock Resorts by 1,924.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company’s stock valued at $31,000 after buying an additional 481 shares in the last quarter. GAMMA Investing LLC increased its position in Red Rock Resorts by 53.8% in the fourth quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock worth $47,000 after purchasing an additional 263 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in Red Rock Resorts by 98.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,474 shares of the company’s stock valued at $91,000 after purchasing an additional 733 shares in the last quarter. 47.84% of the stock is owned by institutional investors.

Red Rock Resorts Stock Performance

Shares of RRR stock opened at $61.33 on Monday. The firm has a market cap of $6.44 billion, a PE ratio of 19.72, a P/E/G ratio of 4.65 and a beta of 1.36. The company’s fifty day simple moving average is $56.31 and its 200-day simple moving average is $59.10. Red Rock Resorts, Inc. has a 12 month low of $49.47 and a 12 month high of $68.99. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 14.42.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.17). The company had revenue of $507.32 million during the quarter, compared to analyst estimates of $505.63 million. Red Rock Resorts had a net margin of 9.21% and a return on equity of 61.67%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company posted $0.75 EPS. Equities research analysts expect that Red Rock Resorts, Inc. will post 1.53 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.26 per share. The ex-dividend date is Monday, June 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.7%. Red Rock Resorts’s dividend payout ratio (DPR) is 33.44%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RRR shares. JPMorgan Chase & Co. lowered their price target on Red Rock Resorts from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Susquehanna cut their price objective on Red Rock Resorts from $77.00 to $70.00 and set a “positive” rating on the stock in a report on Thursday, April 30th. Wells Fargo & Company decreased their price objective on Red Rock Resorts from $59.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. Morgan Stanley set a $59.00 target price on Red Rock Resorts in a research note on Wednesday, May 6th. Finally, Truist Financial dropped their target price on shares of Red Rock Resorts from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Twelve analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.53.

Red Rock Resorts Profile

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.