Nuveen LLC Acquires Shares of 254,201 Red Rock Resorts, Inc. $RRR

Nuveen LLC acquired a new stake in Red Rock Resorts, Inc. (NASDAQ:RRR) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 254,201 shares of the company’s stock, valued at approximately $11,025,000. Nuveen LLC owned approximately 0.24% of Red Rock Resorts at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Bamco Inc. NY boosted its stake in Red Rock Resorts by 6.9% in the fourth quarter. Bamco Inc. NY now owns 11,356,201 shares of the company’s stock valued at $525,111,000 after acquiring an additional 732,917 shares in the last quarter. Eminence Capital LP boosted its stake in Red Rock Resorts by 36.1% in the fourth quarter. Eminence Capital LP now owns 2,056,588 shares of the company’s stock valued at $95,097,000 after acquiring an additional 546,047 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in Red Rock Resorts by 19.2% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,602,368 shares of the company’s stock valued at $69,494,000 after acquiring an additional 258,310 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Red Rock Resorts by 3.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,225,188 shares of the company’s stock valued at $56,653,000 after acquiring an additional 38,620 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Red Rock Resorts by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 500,365 shares of the company’s stock valued at $23,138,000 after acquiring an additional 9,918 shares in the last quarter. Institutional investors and hedge funds own 47.84% of the company’s stock.

Red Rock Resorts Price Performance

Shares of NASDAQ:RRR opened at $61.44 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 11.28. The company has a market cap of $6.48 billion, a P/E ratio of 20.90, a PEG ratio of 2.41 and a beta of 1.66. Red Rock Resorts, Inc. has a 52 week low of $35.09 and a 52 week high of $62.00. The company has a 50-day moving average price of $55.70 and a 200 day moving average price of $49.25.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.55. The firm had revenue of $526.27 million during the quarter, compared to the consensus estimate of $485.44 million. Red Rock Resorts had a net margin of 8.89% and a return on equity of 59.97%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 earnings per share. Research analysts predict that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a $0.25 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 34.01%.

Analysts Set New Price Targets

RRR has been the subject of several research analyst reports. Stifel Nicolaus set a $60.00 price objective on shares of Red Rock Resorts and gave the company a “hold” rating in a research note on Wednesday, July 30th. Macquarie reiterated an “outperform” rating and set a $58.00 target price on shares of Red Rock Resorts in a research note on Friday, May 2nd. Morgan Stanley raised their price target on Red Rock Resorts from $49.00 to $53.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. started coverage on Red Rock Resorts in a research note on Monday, June 23rd. They set an “overweight” rating and a $62.00 price objective for the company. Finally, Mizuho increased their price objective on Red Rock Resorts from $59.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.73.

Insider Activity at Red Rock Resorts

In related news, COO Kord Nichols sold 5,250 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $61.00, for a total value of $320,250.00. Following the completion of the sale, the chief operating officer owned 124,111 shares in the company, valued at $7,570,771. This trade represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey T. Welch sold 56,653 shares of the firm’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $60.23, for a total transaction of $3,412,210.19. Following the completion of the sale, the executive vice president owned 314,767 shares of the company’s stock, valued at approximately $18,958,416.41. The trade was a 15.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 225,628 shares of company stock worth $13,501,984 over the last 90 days. Company insiders own 53.81% of the company’s stock.

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.