Natixis Advisors LLC Reduces Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

Natixis Advisors LLC reduced its holdings in Red Rock Resorts, Inc. (NASDAQ:RRR) by 3.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 219,276 shares of the company’s stock after selling 7,869 shares during the period. Natixis Advisors LLC’s holdings in Red Rock Resorts were worth $11,937,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Long Pond Capital LP purchased a new position in shares of Red Rock Resorts during the 2nd quarter worth $21,987,000. Eminence Capital LP raised its stake in Red Rock Resorts by 23.7% during the second 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 boosted its holdings in Red Rock Resorts by 4,050.3% in 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 during the last quarter. Hantz Financial Services Inc. purchased a new stake in shares of Red Rock Resorts in the 2nd quarter valued at approximately $14,384,000. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in shares of Red Rock Resorts by 26.7% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,196,195 shares of the company’s stock worth $65,706,000 after buying an additional 251,855 shares during the last quarter. 47.84% of the stock is currently owned by institutional investors and hedge funds.

Red Rock Resorts Price Performance

Shares of NASDAQ:RRR opened at $49.69 on Thursday. The company has a market cap of $5.25 billion, a P/E ratio of 18.40, a P/E/G ratio of 6.33 and a beta of 2.04. Red Rock Resorts, Inc. has a 52 week low of $43.38 and a 52 week high of $63.28. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 14.28. The business has a fifty day simple moving average of $52.90 and a 200-day simple moving average of $53.67.

Red Rock Resorts Dividend Announcement

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. The ex-dividend date is Monday, December 16th. This represents a $1.00 annualized dividend and a yield of 2.01%. Red Rock Resorts’s payout ratio is 37.04%.

Analysts Set New Price Targets

RRR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of Red Rock Resorts from $62.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Barclays decreased their target price on Red Rock Resorts from $65.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Macquarie lowered their price objective on shares of Red Rock Resorts from $65.00 to $64.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Wells Fargo & Company cut their target price on shares of Red Rock Resorts from $64.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 17th. Finally, Mizuho reissued an “outperform” rating and set a $57.00 target price (down from $67.00) on shares of Red Rock Resorts in a research note on Tuesday, November 12th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.