Red Rock Resorts, Inc. (NASDAQ:RRR) Stake Boosted by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. boosted its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 19.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,602,368 shares of the company's stock after buying an additional 258,310 shares during the quarter. Vaughan Nelson Investment Management L.P. owned 1.51% of Red Rock Resorts worth $69,494,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Sterling Capital Management LLC grew its holdings in Red Rock Resorts by 654.7% during the 4th quarter. Sterling Capital Management LLC now owns 883 shares of the company's stock valued at $41,000 after buying an additional 766 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Red Rock Resorts by 47.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,055 shares of the company's stock worth $95,000 after purchasing an additional 664 shares during the last quarter. Cibc World Markets Corp purchased a new position in shares of Red Rock Resorts in the 4th quarter worth $213,000. Jump Financial LLC purchased a new position in shares of Red Rock Resorts in the 4th quarter worth about $253,000. Finally, Occudo Quantitative Strategies LP purchased a new position in Red Rock Resorts in the fourth quarter valued at approximately $269,000. Institutional investors and hedge funds own 47.84% of the company's stock.

Wall Street Analysts Forecast Growth

RRR has been the topic of several research reports. Truist Financial cut their price objective on Red Rock Resorts from $56.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley reduced their price objective on shares of Red Rock Resorts from $45.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Barclays lowered their price target on Red Rock Resorts from $58.00 to $54.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Susquehanna dropped their price objective on shares of Red Rock Resorts from $61.00 to $52.00 and set a "positive" rating on the stock in a research note on Wednesday, April 16th. Finally, JMP Securities reduced their price target on shares of Red Rock Resorts from $59.00 to $55.00 and set a "market outperform" rating for the company in a report on Thursday, April 17th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.64.

Red Rock Resorts Price Performance

Shares of RRR stock traded up $0.28 during mid-day trading on Wednesday, hitting $50.79. 219,668 shares of the stock traded hands, compared to its average volume of 592,349. The company's 50-day simple moving average is $45.44 and its 200-day simple moving average is $46.36. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 5.24 and a beta of 1.61. Red Rock Resorts, Inc. has a twelve month low of $35.09 and a twelve month high of $61.73. The company has a debt-to-equity ratio of 9.04, a quick ratio of 0.87 and a current ratio of 0.92.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.33. Red Rock Resorts had a return on equity of 56.45% and a net margin of 8.01%. The company had revenue of $497.86 million for the quarter, compared to analysts' expectations of $499.12 million. During the same quarter in the prior year, the company earned $0.68 earnings per share. The firm's revenue was up 1.8% on a year-over-year basis. As a group, equities research analysts expect that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The company also recently disclosed an annual dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $1.00 dividend. This represents a yield of 2.29%. The ex-dividend date is Monday, June 16th. Red Rock Resorts's dividend payout ratio is 38.76%.

Red Rock Resorts 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.