Nuveen Asset Management LLC Sells 40,658 Shares of Red Rock Resorts, Inc. (NASDAQ:RRR)

Nuveen Asset Management LLC lowered its stake in shares of Red Rock Resorts, Inc. (NASDAQ:RRR – Get Rating) by 13.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 271,513 shares of the company’s stock after selling 40,658 shares during the quarter. Nuveen Asset Management LLC’s holdings in Red Rock Resorts were worth $9,302,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in Red Rock Resorts during the first quarter worth approximately $30,000. Quantbot Technologies LP acquired a new position in shares of Red Rock Resorts during the second quarter worth approximately $92,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Red Rock Resorts during the second quarter worth approximately $100,000. Great West Life Assurance Co. Can acquired a new position in shares of Red Rock Resorts during the third quarter worth approximately $104,000. Finally, Creative Planning lifted its holdings in shares of Red Rock Resorts by 5.3% during the second quarter. Creative Planning now owns 6,048 shares of the company’s stock worth $202,000 after buying an additional 305 shares during the last quarter. Institutional investors own 52.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. TheStreet upgraded Red Rock Resorts from a “c” rating to a “b-” rating in a report on Tuesday, February 28th. JMP Securities upped their price target on Red Rock Resorts from $50.00 to $51.00 and gave the stock a “market outperform” rating in a report on Friday, January 20th. StockNews.com upgraded Red Rock Resorts from a “hold” rating to a “buy” rating in a report on Thursday, February 9th. Deutsche Bank Aktiengesellschaft upped their price target on Red Rock Resorts from $51.00 to $53.00 in a report on Wednesday, February 8th. Finally, Truist Financial upped their target price on Red Rock Resorts from $45.00 to $49.00 in a research note on Wednesday, February 8th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Red Rock Resorts currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.58.

Red Rock Resorts Stock Performance

Red Rock Resorts stock opened at $44.18 on Friday. The firm has a market capitalization of $4.60 billion, a P/E ratio of 13.19, a P/E/G ratio of 20.72 and a beta of 2.19. The stock has a fifty day moving average price of $44.56 and a two-hundred day moving average price of $41.69. Red Rock Resorts, Inc. has a 52-week low of $30.98 and a 52-week high of $50.55. The company has a debt-to-equity ratio of 91.76, a current ratio of 0.75 and a quick ratio of 0.71.

Red Rock Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Tuesday, March 14th. Red Rock Resorts’s dividend payout ratio is currently 29.85%.

About Red Rock Resorts

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Red Rock Resorts, Inc is a holding company engaged in the management and development of gaming and entertainment facilities. The firm operates through the following segments: Las Vegas Operations and Native American Management. Its amenities include restaurants, entertainment venues, movie theatres, bowling and convention or banquet spaces, as well as traditional casino gaming offerings such as video poker, slot machines, table games, bingo and race and sports wagering.