Natixis Advisors L.P. Invests $6.60 Million in Red Rock Resorts, Inc. (NASDAQ:RRR)

Natixis Advisors L.P. purchased a new position in Red Rock Resorts, Inc. (NASDAQ:RRR) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 123,671 shares of the company’s stock, valued at approximately $6,595,000.

A number of other hedge funds have also recently made changes to their positions in RRR. Bank of New York Mellon Corp boosted its position in shares of Red Rock Resorts by 1.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 401,209 shares of the company’s stock worth $16,450,000 after purchasing an additional 4,432 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Red Rock Resorts by 13.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,201 shares of the company’s stock worth $459,000 after purchasing an additional 1,330 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Red Rock Resorts by 5.3% in the 3rd quarter. TD Asset Management Inc now owns 35,606 shares of the company’s stock worth $1,460,000 after purchasing an additional 1,800 shares in the last quarter. Malaga Cove Capital LLC bought a new stake in shares of Red Rock Resorts in the 3rd quarter worth approximately $242,000. Finally, Diamond Hill Capital Management Inc. boosted its position in shares of Red Rock Resorts by 1.9% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,827,336 shares of the company’s stock worth $197,921,000 after purchasing an additional 91,798 shares in the last quarter. 47.84% of the stock is owned by institutional investors.

Red Rock Resorts Price Performance

Shares of RRR opened at $50.98 on Friday. The firm has a market cap of $5.36 billion, a PE ratio of 17.70, a P/E/G ratio of 2.81 and a beta of 2.08. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 13.54. The firm has a fifty day simple moving average of $57.55 and a two-hundred day simple moving average of $52.49. Red Rock Resorts, Inc. has a 1-year low of $37.82 and a 1-year high of $63.28.

Red Rock Resorts (NASDAQ:RRR) last announced its earnings results on Tuesday, May 7th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.18. Red Rock Resorts had a return on equity of 114.32% and a net margin of 10.21%. The company had revenue of $488.90 million for the quarter, compared to analysts’ expectations of $490.49 million. During the same period last year, the firm earned $0.75 EPS. Red Rock Resorts’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, equities analysts anticipate that Red Rock Resorts, Inc. will post 1.92 EPS for the current year.

Red Rock Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.96%. Red Rock Resorts’s payout ratio is currently 34.72%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RRR. Stifel Nicolaus decreased their price objective on shares of Red Rock Resorts from $61.00 to $59.00 and set a “hold” rating for the company in a report on Wednesday. JMP Securities decreased their price objective on shares of Red Rock Resorts from $66.00 to $65.00 and set a “market outperform” rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Red Rock Resorts from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Morgan Stanley boosted their price objective on shares of Red Rock Resorts from $51.00 to $53.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Red Rock Resorts from $63.00 to $69.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Red Rock Resorts presently has an average rating of “Moderate Buy” and an average target price of $61.75.

Insider Activity at Red Rock Resorts

In other Red Rock Resorts news, CFO Stephen Lawrence Cootey sold 7,520 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $57.74, for a total transaction of $434,204.80. Following the sale, the chief financial officer now owns 243,808 shares in the company, valued at approximately $14,077,473.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 53.28% of the stock is currently owned by corporate insiders.

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.