VELA Investment Management LLC Invests $256,000 in Red Rock Resorts, Inc. (NASDAQ:RRR)

VELA Investment Management LLC purchased a new position in Red Rock Resorts, Inc. (NASDAQ:RRR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,808 shares of the company’s stock, valued at approximately $256,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Eminence Capital LP increased its position in Red Rock Resorts by 6.0% during the 3rd quarter. Eminence Capital LP now owns 1,959,685 shares of the company’s stock valued at $80,347,000 after purchasing an additional 111,651 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in Red Rock Resorts in the 4th quarter valued at $40,331,000. Swiss National Bank grew its holdings in shares of Red Rock Resorts by 1.0% during the third quarter. Swiss National Bank now owns 108,700 shares of the company’s stock worth $4,457,000 after buying an additional 1,100 shares in the last quarter. Bamco Inc. NY boosted its position in Red Rock Resorts by 10.8% during the third quarter. Bamco Inc. NY now owns 9,856,963 shares of the company’s stock worth $404,135,000 after acquiring an additional 962,841 shares during the last quarter. Finally, EJF Capital LLC raised its holdings in Red Rock Resorts by 33.0% in the 3rd quarter. EJF Capital LLC now owns 18,953 shares of the company’s stock valued at $777,000 after acquiring an additional 4,698 shares during the last quarter. 47.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RRR has been the topic of several analyst reports. Susquehanna lifted their price target on shares of Red Rock Resorts from $52.00 to $66.00 and gave the company a “positive” rating in a research report on Thursday, February 8th. Wells Fargo & Company upped their price target on Red Rock Resorts from $57.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Stifel Nicolaus increased their price target on Red Rock Resorts from $47.00 to $54.00 and gave the stock a “hold” rating in a report on Thursday, December 21st. Macquarie upgraded shares of Red Rock Resorts from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $51.00 to $58.00 in a report on Wednesday, January 17th. Finally, Mizuho initiated coverage on shares of Red Rock Resorts in a research report on Tuesday, March 26th. They issued a “buy” rating and a $69.00 target price on the stock. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.67.

Red Rock Resorts Trading Down 1.7 %

Shares of RRR traded down $0.99 during mid-day trading on Tuesday, hitting $58.97. The company had a trading volume of 47,997 shares, compared to its average volume of 402,881. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 13.54. The stock has a market cap of $6.20 billion, a PE ratio of 20.46, a P/E/G ratio of 3.08 and a beta of 2.06. Red Rock Resorts, Inc. has a 1-year low of $37.82 and a 1-year high of $63.28. The business’s 50-day simple moving average is $58.17 and its 200-day simple moving average is $50.78.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Wednesday, February 7th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.55. Red Rock Resorts had a net margin of 10.21% and a return on equity of 114.32%. The company had revenue of $462.71 million during the quarter, compared to analyst estimates of $440.75 million. During the same quarter in the prior year, the business earned $1.00 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. Sell-side analysts forecast that Red Rock Resorts, Inc. will post 1.93 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.25 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.70%. Red Rock Resorts’s dividend payout ratio (DPR) is presently 33.90%.

Insider Buying and Selling at Red Rock Resorts

In other news, CFO Stephen Lawrence Cootey sold 7,520 shares of Red Rock Resorts stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $57.74, for a total value of $434,204.80. Following the completion of the transaction, the chief financial officer now directly owns 243,808 shares of the company’s stock, valued at approximately $14,077,473.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 54.20% of the stock is currently owned by insiders.

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.