254,201 Shares in Red Rock Resorts, Inc. $RRR Purchased by Nuveen LLC

Key Points

• Nuveen LLC acquired 254,201 shares of Red Rock Resorts, Inc., valued at approximately $11,025,000, representing around 0.24% of the company's stock.
• Red Rock Resorts reported a quarterly earnings per share (EPS) of $0.95, significantly beating analysts' expectations, and its revenue rose by 8.2% year-over-year to $526.27 million.
• The company declared a quarterly dividend of $0.25, which represents an annualized yield of 1.6%, with a payout ratio of 34.01%.

Nuveen LLC acquired a new stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 254,201 shares of the company's stock, valued at approximately $11,025,000. Nuveen LLC owned approximately 0.24% of Red Rock Resorts as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of RRR. Bamco Inc. NY boosted its position in Red Rock Resorts by 6.9% during the 4th quarter. Bamco Inc. NY now owns 11,356,201 shares of the company's stock valued at $525,111,000 after acquiring an additional 732,917 shares in the last quarter. Eminence Capital LP boosted its position in Red Rock Resorts by 36.1% during the 4th quarter. Eminence Capital LP now owns 2,056,588 shares of the company's stock valued at $95,097,000 after acquiring an additional 546,047 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in Red Rock Resorts by 19.2% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,602,368 shares of the company's stock valued at $69,494,000 after acquiring an additional 258,310 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in Red Rock Resorts by 537.7% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 215,397 shares of the company's stock valued at $9,960,000 after acquiring an additional 181,619 shares in the last quarter. Finally, Millennium Management LLC boosted its position in Red Rock Resorts by 74.1% during the 4th quarter. Millennium Management LLC now owns 275,311 shares of the company's stock valued at $12,730,000 after acquiring an additional 117,199 shares in the last quarter. 47.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RRR. JPMorgan Chase & Co. began coverage on Red Rock Resorts in a research report on Monday, June 23rd. They issued an "overweight" rating and a $62.00 price target on the stock. Susquehanna reissued a "positive" rating and issued a $68.00 price target (up from $65.00) on shares of Red Rock Resorts in a research report on Wednesday, July 30th. Macquarie reissued an "outperform" rating and issued a $58.00 price target on shares of Red Rock Resorts in a research report on Friday, May 2nd. Truist Financial raised Red Rock Resorts from a "hold" rating to a "buy" rating and boosted their price target for the stock from $45.00 to $67.00 in a research report on Wednesday, July 16th. Finally, Stifel Nicolaus set a $60.00 price target on Red Rock Resorts and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.73.

Red Rock Resorts Stock Performance

NASDAQ:RRR traded up $0.49 on Monday, hitting $61.93. The stock had a trading volume of 477,087 shares, compared to its average volume of 963,881. The business's 50-day simple moving average is $55.94 and its two-hundred day simple moving average is $49.35. The stock has a market cap of $6.53 billion, a price-to-earnings ratio of 21.06, a price-to-earnings-growth ratio of 2.48 and a beta of 1.66. Red Rock Resorts, Inc. has a 52-week low of $35.09 and a 52-week high of $62.50. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 11.28.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.95 EPS for the quarter, topping the consensus estimate 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%.Red Rock Resorts's revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 EPS. As a group, research analysts predict 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, September 30th. Shareholders of record on Monday, September 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Monday, September 15th. Red Rock Resorts's dividend payout ratio is presently 34.01%.

Insiders Place Their Bets

In other news, EVP Jeffrey T. Welch sold 56,653 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $60.23, for a total transaction of $3,412,210.19. Following the completion of the transaction, the executive vice president owned 314,767 shares in the company, valued at $18,958,416.41. This trade represents a 15.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Kord Nichols sold 37,075 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $61.03, for a total value of $2,262,687.25. Following the transaction, the chief operating officer owned 87,036 shares of the company's stock, valued at approximately $5,311,807.08. The trade was a 29.87% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 262,703 shares of company stock worth $15,764,672. Corporate insiders own 53.28% of the company's stock.

About Red Rock Resorts

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.