Vaughan Nelson Investment Management L.P. Sells 31,390 Shares of Red Rock Resorts, Inc. $RRR

Vaughan Nelson Investment Management L.P. reduced its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR) by 4.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 610,648 shares of the company’s stock after selling 31,390 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Red Rock Resorts were worth $37,830,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Red Rock Resorts during the third quarter worth $4,961,000. Capital Fund Management S.A. bought a new stake in Red Rock Resorts in the 2nd quarter valued at $1,441,000. Diametric Capital LP acquired a new position in Red Rock Resorts in the 2nd quarter worth $3,786,000. Cookson Peirce & Co. Inc. acquired a new position in Red Rock Resorts in the 3rd quarter worth $1,203,000. Finally, Armistice Capital LLC bought a new position in Red Rock Resorts during the 2nd quarter worth about $8,386,000. Institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Price Performance

NASDAQ:RRR opened at $52.19 on Tuesday. Red Rock Resorts, Inc. has a 52-week low of $35.09 and a 52-week high of $68.99. The company has a market cap of $5.48 billion, a P/E ratio of 16.67, a P/E/G ratio of 2.24 and a beta of 1.46. 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 stock’s 50-day simple moving average is $60.83 and its 200 day simple moving average is $59.93.

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

Red Rock Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. Red Rock Resorts’s dividend payout ratio (DPR) is currently 33.23%.

Analyst Ratings Changes

Several research firms have recently weighed in on RRR. Barclays upped their price objective on Red Rock Resorts from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Morgan Stanley set a $62.00 target price on Red Rock Resorts in a research note on Thursday, February 12th. Citigroup reaffirmed a “market outperform” rating on shares of Red Rock Resorts in a research note on Tuesday, March 10th. Mizuho set a $77.00 price objective on shares of Red Rock Resorts in a report on Wednesday, February 11th. Finally, Benchmark started coverage on shares of Red Rock Resorts in a research report on Monday, March 23rd. They issued a “buy” rating and a $67.00 price objective on the stock. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.