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

Vaughan Nelson Investment Management L.P. cut its stake in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 6.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,114,215 shares of the company's stock after selling 81,980 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 1.06% of Red Rock Resorts worth $60,658,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. MQS Management LLC acquired a new stake in Red Rock Resorts during the third quarter worth about $392,000. Crystal Rock Capital Management grew its stake in shares of Red Rock Resorts by 19.1% in the 3rd quarter. Crystal Rock Capital Management now owns 54,200 shares of the company's stock valued at $2,951,000 after buying an additional 8,700 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Red Rock Resorts during the 3rd quarter worth approximately $842,000. Olympiad Research LP acquired a new stake in shares of Red Rock Resorts during the 3rd quarter worth approximately $401,000. Finally, US Bancorp DE raised 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 valued at $85,000 after buying an additional 1,490 shares during the period. Hedge funds and other institutional investors own 47.84% of the company's stock.

Red Rock Resorts Stock Up 1.3 %

NASDAQ RRR traded up $0.63 during trading on Friday, reaching $50.84. 862,367 shares of the company's stock were exchanged, compared to its average volume of 730,253. The company has a 50 day moving average price of $53.15 and a two-hundred day moving average price of $53.76. The stock has a market cap of $5.37 billion, a P/E 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 1 year low of $43.08 and a 1 year high of $63.28. The company has a debt-to-equity ratio of 14.28, a quick ratio of 0.89 and a current ratio of 1.02.

Red Rock Resorts Announces Dividend

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

Wall Street Analyst Weigh In

RRR has been the subject of a number of recent analyst reports. Susquehanna raised their price objective on 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 dropped their price target 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. Mizuho reissued an "outperform" rating and issued a $57.00 price target (down from $67.00) on shares of Red Rock Resorts in a research note on Tuesday, November 12th. Morgan Stanley increased their price objective on shares of Red Rock Resorts from $54.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Red Rock Resorts from $62.00 to $69.00 and gave the company an "overweight" rating in a report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Red Rock Resorts has a consensus rating of "Moderate Buy" and a consensus price target of $61.50.

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.