Vaughan Nelson Investment Management L.P. Buys New Holdings in Red Rock Resorts, Inc. (NASDAQ:RRR)

Vaughan Nelson Investment Management L.P. purchased a new position in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 756,245 shares of the company's stock, valued at approximately $40,331,000. Vaughan Nelson Investment Management L.P. owned approximately 0.72% of Red Rock Resorts at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Eminence Capital LP raised its position in shares of Red Rock Resorts by 6.0% in the 3rd quarter. Eminence Capital LP now owns 1,959,685 shares of the company's stock worth $80,347,000 after acquiring an additional 111,651 shares in the last quarter. Comerica Bank acquired a new position in Red Rock Resorts during the 2nd quarter valued at about $27,069,000. Swiss National Bank increased its position in Red Rock Resorts by 1.0% during the 3rd quarter. Swiss National Bank now owns 108,700 shares of the company's stock valued at $4,457,000 after buying an additional 1,100 shares in the last quarter. Bamco Inc. NY increased its position in Red Rock Resorts by 10.8% during the 3rd quarter. Bamco Inc. NY now owns 9,856,963 shares of the company's stock valued at $404,135,000 after buying an additional 962,841 shares in the last quarter. Finally, EJF Capital LLC increased its position in Red Rock Resorts by 33.0% during the 3rd quarter. EJF Capital LLC now owns 18,953 shares of the company's stock valued at $777,000 after buying an additional 4,698 shares in the last quarter. 47.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Red Rock Resorts news, CFO Stephen Lawrence Cootey sold 7,520 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $57.74, for a total transaction of $434,204.80. Following the transaction, the chief financial officer now owns 243,808 shares in the company, valued at $14,077,473.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 54.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RRR. Deutsche Bank Aktiengesellschaft upped their target price on Red Rock Resorts from $54.00 to $62.00 and gave the company a "buy" rating in a research report on Wednesday, January 24th. Stifel Nicolaus upped their target price on Red Rock Resorts from $47.00 to $54.00 and gave the company a "hold" rating in a research report on Thursday, December 21st. Wells Fargo & Company boosted their price target on Red Rock Resorts from $57.00 to $62.00 and gave the company an "overweight" rating in a research note on Thursday, February 8th. Macquarie upgraded Red Rock Resorts from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $51.00 to $58.00 in a research note on Wednesday, January 17th. Finally, JMP Securities boosted their price target on Red Rock Resorts from $55.00 to $61.00 and gave the company a "market outperform" rating in a research note on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Red Rock Resorts currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.82.

Red Rock Resorts Stock Performance

Shares of RRR traded up $1.70 during mid-day trading on Friday, reaching $61.55. The company had a trading volume of 415,512 shares, compared to its average volume of 355,562. Red Rock Resorts, Inc. has a 52-week low of $37.82 and a 52-week high of $63.28. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 13.54. The stock has a market capitalization of $6.47 billion, a P/E ratio of 20.86, a PEG ratio of 4.09 and a beta of 2.06. The stock has a 50 day moving average of $57.46 and a two-hundred day moving average of $49.94.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last issued its earnings results on Wednesday, February 7th. The company reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.55. Red Rock Resorts had a return on equity of 114.32% and a net margin of 10.21%. The firm had revenue of $462.71 million for the quarter, compared to the consensus estimate of $440.75 million. During the same quarter in the prior year, the business earned $1.00 earnings per share. The company's revenue was up 8.8% compared to the same quarter last year. On average, analysts expect that Red Rock Resorts, Inc. will post 1.95 earnings per share for the current year.

Red Rock Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.62%. Red Rock Resorts's payout ratio is 33.90%.

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.