Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets boosted its holdings in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 206.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,009,189 shares of the company's stock after purchasing an additional 1,353,617 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.48% of Melco Resorts & Entertainment worth $11,633,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Ameriprise Financial Inc. boosted its position in 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 in the last quarter. Northern Trust Corp boosted its position in Melco Resorts & Entertainment by 274.4% during the fourth 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 in the last quarter. The Manufacturers Life Insurance Company boosted its position in Melco Resorts & Entertainment by 8.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 50,215 shares of the company's stock worth $291,000 after purchasing an additional 3,873 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in Melco Resorts & Entertainment during the fourth quarter worth approximately $250,000. Finally, Two Sigma Securities LLC purchased a new position in Melco Resorts & Entertainment during the fourth quarter worth approximately $208,000. Hedge funds and other institutional investors own 39.62% of the company's stock.

Melco Resorts & Entertainment Price Performance

Shares of NASDAQ:MLCO traded up $0.11 during midday trading on Friday, hitting $6.45. The company had a trading volume of 1,317,108 shares, compared to its average volume of 3,727,469. Melco Resorts & Entertainment Limited has a twelve month low of $4.55 and a twelve month high of $8.90. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of -29.34, a price-to-earnings-growth ratio of 0.63 and a beta of 0.71. The business's 50-day simple moving average is $5.31 and its 200-day simple moving average is $5.78.

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

Wall Street Analyst Weigh In

MLCO has been the topic of a number of recent analyst reports. Citigroup upgraded Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $6.25 price target on the stock in a research report on Thursday, April 10th. UBS Group cut Melco Resorts & Entertainment from a "buy" rating to a "sell" rating and set a $4.60 target price for the company. in a report on Wednesday, April 30th. Morgan Stanley raised Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and reduced their target price for the company from $7.50 to $6.70 in a report on Monday, March 3rd. Finally, Susquehanna reduced their target price on Melco Resorts & Entertainment from $10.00 to $9.00 and set a "positive" rating for the company in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Melco Resorts & Entertainment has a consensus rating of "Moderate Buy" and an average target price of $6.84.

About Melco Resorts & Entertainment

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.