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

Vaughan Nelson Investment Management L.P. lowered its position in Red Rock Resorts, Inc. (NASDAQ:RRR) by 6.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,114,215 shares of the company’s stock after selling 81,980 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Red Rock Resorts were worth $60,658,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Long Pond Capital LP acquired a new position in shares of Red Rock Resorts in the 2nd quarter valued at about $21,987,000. Eminence Capital LP grew its stake in shares of Red Rock Resorts by 23.7% during the 2nd quarter. Eminence Capital LP now owns 1,952,754 shares of the company’s stock worth $107,265,000 after purchasing an additional 374,128 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Red Rock Resorts by 4,050.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 333,769 shares of the company’s stock valued at $18,170,000 after purchasing an additional 325,727 shares in the last quarter. Hantz Financial Services Inc. acquired a new position in shares of Red Rock Resorts in the 2nd quarter valued at $14,384,000. Finally, Vanguard Group Inc. boosted its holdings in Red Rock Resorts by 4.3% during the first quarter. Vanguard Group Inc. now owns 5,136,942 shares of the company’s stock worth $307,292,000 after buying an additional 209,593 shares in the last quarter. Institutional investors and hedge funds own 47.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on RRR shares. Barclays decreased their price objective on shares of Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Susquehanna upped their price target on Red Rock Resorts from $63.00 to $70.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Stifel Nicolaus raised their price objective 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 reiterated an “outperform” rating and set a $57.00 target price (down previously from $67.00) on shares of Red Rock Resorts in a research report on Tuesday, November 12th. Finally, JMP Securities reissued a “market outperform” rating and issued a $65.00 price target on shares of Red Rock Resorts in a research note on Monday, October 14th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $61.50.

Red Rock Resorts Stock Performance

NASDAQ:RRR opened at $50.84 on Friday. Red Rock Resorts, Inc. has a twelve month low of $43.08 and a twelve month high of $63.28. The company has a market cap of $5.37 billion, a P/E ratio of 18.83, a P/E/G ratio of 6.33 and a beta of 2.04. The company has a current ratio of 1.02, a quick ratio of 0.89 and a debt-to-equity ratio of 14.28. The company’s 50-day moving average price is $53.15 and its 200-day moving average price is $53.76.

Red Rock Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.97%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 37.04%.

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.