Vaughan Nelson Investment Management L.P. Sells 81,980 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Vaughan Nelson Investment Management L.P. reduced its stake in Red Rock Resorts, Inc. (NASDAQ:RRR) by 6.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,114,215 shares of the company’s stock after selling 81,980 shares during the period. Vaughan Nelson Investment Management L.P. owned 1.06% of Red Rock Resorts worth $60,658,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of RRR. Covestor Ltd increased its holdings in Red Rock Resorts by 16,666.7% during the 1st quarter. Covestor Ltd now owns 503 shares of the company’s stock worth $30,000 after purchasing an additional 500 shares during the period. US Bancorp DE grew its position in shares of Red Rock Resorts by 2,223.9% during the 3rd quarter. US Bancorp DE now owns 1,557 shares of the company’s stock worth $85,000 after buying an additional 1,490 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of Red Rock Resorts during the second quarter valued at $98,000. nVerses Capital LLC purchased a new stake in Red Rock Resorts in the second quarter worth about $154,000. Finally, Ritholtz Wealth Management bought a new position in Red Rock Resorts during the 3rd quarter worth about $215,000. 47.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RRR has been the subject of several research reports. Susquehanna upped their price target on shares of Red Rock Resorts from $63.00 to $70.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. Barclays lowered their target price on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Stifel Nicolaus lifted their price target on Red Rock Resorts from $59.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Mizuho restated an “outperform” rating and set a $57.00 price objective (down from $67.00) on shares of Red Rock Resorts in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. raised their price objective on Red Rock Resorts from $62.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.50.

Red Rock Resorts Stock Up 1.3 %

RRR stock opened at $50.84 on Friday. The stock has a market capitalization of $5.37 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 6.33 and a beta of 2.04. Red Rock Resorts, Inc. has a 52 week low of $43.08 and a 52 week high of $63.28. The company has a quick ratio of 0.89, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The firm has a 50 day moving average of $53.15 and a 200 day moving average of $53.76.

Red Rock Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 annualized dividend and a dividend yield of 1.97%. Red Rock Resorts’s payout ratio is currently 37.04%.

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.