Centiva Capital LP Purchases New Shares in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Centiva Capital LP acquired a new stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 79,821 shares of the company's stock, valued at approximately $462,000.

Other institutional investors also recently modified their holdings of the company. Cantor Fitzgerald L. P. bought a new position in Melco Resorts & Entertainment in the fourth quarter valued at about $145,000. Bank of America Corp DE grew its position in shares of Melco Resorts & Entertainment by 133.7% in the fourth quarter. Bank of America Corp DE now owns 642,726 shares of the company's stock valued at $3,721,000 after purchasing an additional 367,652 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Melco Resorts & Entertainment by 206.5% during the fourth quarter. BNP Paribas Financial Markets now owns 2,009,189 shares of the company's stock worth $11,633,000 after purchasing an additional 1,353,617 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Melco Resorts & Entertainment by 1,166.0% during the fourth quarter. Ameriprise Financial Inc. now owns 147,363 shares of the company's stock worth $853,000 after purchasing an additional 135,723 shares during the period. Finally, Northern Trust Corp lifted its holdings in Melco Resorts & Entertainment by 274.4% during the 4th quarter. Northern Trust Corp now owns 362,738 shares of the company's stock worth $2,100,000 after purchasing an additional 265,848 shares during the last quarter. 39.62% of the stock is owned by institutional investors.

Melco Resorts & Entertainment Stock Performance

Shares of NASDAQ:MLCO traded down $0.03 during midday trading on Thursday, reaching $6.34. The company's stock had a trading volume of 3,082,620 shares, compared to its average volume of 3,729,565. Melco Resorts & Entertainment Limited has a fifty-two week low of $4.55 and a fifty-two week high of $8.90. The firm has a 50 day moving average price of $5.30 and a two-hundred day moving average price of $5.78. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of -28.82, a PEG ratio of 0.63 and a beta of 0.71.

Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.13. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.21 billion. Melco Resorts & Entertainment had a negative net margin of 2.04% and a negative return on equity of 16.35%. Melco Resorts & Entertainment's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.04 EPS. As a group, research analysts anticipate that Melco Resorts & Entertainment Limited will post 0.16 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on MLCO. Morgan Stanley upgraded shares of Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and decreased their price target for the company from $7.50 to $6.70 in a research note on Monday, March 3rd. Citigroup upgraded shares of Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $6.25 price target for the company in a research report on Thursday, April 10th. Susquehanna lowered their price objective on Melco Resorts & Entertainment from $10.00 to $9.00 and set a "positive" rating on the stock in a research note on Monday, February 3rd. Finally, UBS Group cut Melco Resorts & Entertainment from a "buy" rating to a "sell" rating and set a $4.60 price objective for the company. in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Melco Resorts & Entertainment currently has an average rating of "Moderate Buy" and a consensus target price of $6.84.

Melco Resorts & Entertainment Company Profile

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.