Red Rock Resorts, Inc. $RRR Stock Holdings Increased by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. grew its position in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 6.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 650,943 shares of the company’s stock after buying an additional 40,295 shares during the period. Vaughan Nelson Investment Management L.P. owned about 0.62% of Red Rock Resorts worth $34,734,000 as of its most recent SEC filing.

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

Red Rock Resorts Stock Performance

RRR opened at $61.33 on Monday. The company has a market cap of $6.44 billion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 4.65 and a beta of 1.36. The stock has a 50-day moving average of $56.31 and a 200-day moving average of $59.10. Red Rock Resorts, Inc. has a 52-week low of $49.47 and a 52-week high of $68.99. The company has a debt-to-equity ratio of 14.42, a quick ratio of 0.76 and a current ratio of 0.81.

Red Rock Resorts (NASDAQ:RRR) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.17). Red Rock Resorts had a net margin of 9.21% and a return on equity of 61.67%. The company had revenue of $507.32 million during the quarter, compared to the consensus estimate of $505.63 million. During the same period in the previous year, the business posted $0.75 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. As a group, equities research analysts forecast that Red Rock Resorts, Inc. will post 1.53 earnings per share for the current fiscal year.

Red Rock Resorts Announces Dividend

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

Analysts Set New Price Targets

RRR has been the subject of a number of research reports. Zacks Research lowered shares of Red Rock Resorts from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Wells Fargo & Company dropped their price target on shares of Red Rock Resorts from $59.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 30th. Wall Street Zen lowered Red Rock Resorts from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Truist Financial dropped their target price on Red Rock Resorts from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Finally, Citigroup dropped their target price on Red Rock Resorts from $76.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Twelve equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.53.

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.