Raymond James & Associates lifted its holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO – Get Rating) by 35.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 53,279 shares of the company's stock after purchasing an additional 13,902 shares during the quarter. Raymond James & Associates' holdings in Melco Resorts & Entertainment were worth $353,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Chiron Capital Management LLC lifted its position in shares of Melco Resorts & Entertainment by 3.6% during the third quarter. Chiron Capital Management LLC now owns 51,900 shares of the company's stock worth $344,000 after purchasing an additional 1,800 shares during the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of Melco Resorts & Entertainment by 1.4% in the first quarter. Great West Life Assurance Co. Can now owns 174,880 shares of the company's stock valued at $1,408,000 after acquiring an additional 2,344 shares in the last quarter. McDonald Partners LLC raised its holdings in Melco Resorts & Entertainment by 3.4% in the third quarter. McDonald Partners LLC now owns 81,680 shares of the company's stock worth $542,000 after purchasing an additional 2,670 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Melco Resorts & Entertainment by 103.0% in the second quarter. Quadrant Capital Group LLC now owns 6,661 shares of the company's stock worth $38,000 after purchasing an additional 3,380 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in Melco Resorts & Entertainment by 14.3% in the first quarter. Cetera Investment Advisers now owns 30,024 shares of the company's stock worth $229,000 after purchasing an additional 3,750 shares in the last quarter. 39.70% of the stock is owned by hedge funds and other institutional investors.
Get Melco Resorts & Entertainment alerts:Analyst Ratings Changes
A number of equities research analysts recently commented on the company. StockNews.com upgraded Melco Resorts & Entertainment to a "sell" rating in a research report on Thursday, December 1st. Credit Suisse Group downgraded Melco Resorts & Entertainment from an "outperform" rating to a "neutral" rating in a research note on Monday, October 17th. Finally, JPMorgan Chase & Co. upgraded Melco Resorts & Entertainment from a "neutral" rating to an "overweight" rating and upped their target price for the company from $7.00 to $10.00 in a report on Monday, November 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Melco Resorts & Entertainment has a consensus rating of "Hold" and a consensus price target of $10.75.
Melco Resorts & Entertainment Trading Up 0.1 %
NASDAQ:MLCO opened at $13.37 on Friday. The stock's 50 day moving average price is $11.94 and its 200 day moving average price is $8.05. Melco Resorts & Entertainment Limited has a 52-week low of $4.06 and a 52-week high of $14.24. The company has a market capitalization of $5.95 billion, a PE ratio of -7.47 and a beta of 1.15. The company has a quick ratio of 2.31, a current ratio of 2.34 and a debt-to-equity ratio of 21.09.Melco Resorts & Entertainment (NASDAQ:MLCO – Get Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.52) earnings per share for the quarter, beating analysts' consensus estimates of ($0.56) by $0.04. The firm had revenue of $241.84 million for the quarter, compared to the consensus estimate of $305.79 million. Melco Resorts & Entertainment had a negative return on equity of 182.94% and a negative net margin of 56.15%. On average, research analysts anticipate that Melco Resorts & Entertainment Limited will post -2.05 EPS for the current year.
Melco Resorts & Entertainment Company Profile
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Melco Resorts & Entertainment Limited, through its subsidiaries, develops, owns, and operates casino gaming and entertainment casino resort facilities in Asia. It owns and operates City of Dreams, an integrated casino resort that has 500 gaming tables and 800 gaming machines; approximately 1,400 hotel rooms and suites; a wet stage performance theater with approximately 2,000 seats; approximately 30 restaurants and bars, and 150 retail outlets; and recreation and leisure facilities, including health and fitness clubs, swimming pools, spa and salons, and banquet and meeting facilities.
Further Reading
- Get a free copy of the StockNews.com research report on Melco Resorts & Entertainment (MLCO)
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