Red Rock Resorts, Inc. (NASDAQ:RRR) Shares Bought by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC increased its stake in Red Rock Resorts by 14.5% in the first quarter, owning 287,409 shares valued at approximately $12.47 million.
• Recent analyst upgrades have raised price targets for Red Rock Resorts, with Mizuho setting a new target of $62.00 and Stifel Nicolaus adjusting theirs to $60.00.
• The company recently announced a quarterly dividend of $0.25 per share, translating to an annualized yield of 1.7%, scheduled for payment on September 30th.

Natixis Advisors LLC boosted its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 14.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 287,409 shares of the company's stock after acquiring an additional 36,338 shares during the period. Natixis Advisors LLC owned 0.27% of Red Rock Resorts worth $12,465,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in Red Rock Resorts by 7,978.4% during the 1st quarter. GAMMA Investing LLC now owns 8,240 shares of the company's stock worth $357,000 after buying an additional 8,138 shares during the period. Vaughan Nelson Investment Management L.P. increased 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 worth $69,494,000 after buying an additional 258,310 shares during the period. SG Americas Securities LLC bought a new position in Red Rock Resorts during the 1st quarter worth $750,000. KBC Group NV increased its position in Red Rock Resorts by 44.6% during the 1st quarter. KBC Group NV now owns 2,887 shares of the company's stock worth $125,000 after buying an additional 891 shares during the period. Finally, Deutsche Bank AG increased its position in Red Rock Resorts by 47.4% during the 4th quarter. Deutsche Bank AG now owns 41,788 shares of the company's stock worth $1,932,000 after buying an additional 13,441 shares during the period. Institutional investors own 47.84% of the company's stock.

Insider Transactions at Red Rock Resorts

In related news, EVP Jeffrey T. Welch sold 56,653 shares of the 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 sale, the executive vice president directly owned 314,767 shares in the company, valued at $18,958,416.41. This represents a 15.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Stephen Lawrence Cootey sold 121,400 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $60.04, for a total value of $7,288,856.00. Following the sale, the chief financial officer owned 260,268 shares of the company's stock, valued at $15,626,490.72. This represents a 31.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 53.28% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

RRR has been the topic of a number of recent research reports. Barclays lifted their price target on Red Rock Resorts from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Truist Financial raised Red Rock Resorts from a "hold" rating to a "buy" rating and lifted their price target for the company from $45.00 to $67.00 in a research note on Wednesday, July 16th. Stifel Nicolaus set a $60.00 price target on Red Rock Resorts and gave the company a "hold" rating in a research note on Wednesday, July 30th. Citigroup reissued an "outperform" rating on shares of Red Rock Resorts in a research note on Friday, July 18th. Finally, Macquarie reissued an "outperform" rating and set a $58.00 price target on shares of Red Rock Resorts in a research note on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.36.

Red Rock Resorts Price Performance

NASDAQ RRR traded down $0.80 during trading on Tuesday, reaching $58.42. The company's stock had a trading volume of 904,297 shares, compared to its average volume of 905,949. The stock has a market capitalization of $6.19 billion, a PE ratio of 19.87, a P/E/G ratio of 3.51 and a beta of 1.66. The company has a debt-to-equity ratio of 9.04, a current ratio of 0.92 and a quick ratio of 0.87. The firm has a fifty day moving average of $53.06 and a 200 day moving average of $48.25. Red Rock Resorts, Inc. has a one year low of $35.09 and a one year high of $62.00.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.55. Red Rock Resorts had a return on equity of 59.56% and a net margin of 8.89%. The business had revenue of $526.27 million for the quarter, compared to analyst estimates of $485.44 million. During the same period in the prior year, the company earned $0.59 EPS. The company's quarterly revenue was up 8.2% compared to the same quarter last year. Analysts expect that Red Rock Resorts, Inc. will post 1.76 EPS for the current fiscal year.

Red Rock Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, September 15th. Red Rock Resorts's dividend payout ratio is presently 34.01%.

Red Rock Resorts Company Profile

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.