Bridger Management LLC reduced its stake in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 64.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 354,544 shares of the company's stock after selling 629,150 shares during the quarter. Melco Resorts & Entertainment makes up 1.1% of Bridger Management LLC's holdings, making the stock its 19th largest position. Bridger Management LLC owned 0.08% of Melco Resorts & Entertainment worth $2,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its holdings in Melco Resorts & Entertainment by 8.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 50,215 shares of the company's stock worth $291,000 after acquiring an additional 3,873 shares in the last quarter. GAMMA Investing LLC grew its position in Melco Resorts & Entertainment by 140.7% during the 4th quarter. GAMMA Investing LLC now owns 7,533 shares of the company's stock worth $44,000 after purchasing an additional 4,403 shares during the last quarter. Samalin Investment Counsel LLC increased its stake in Melco Resorts & Entertainment by 11.6% during the 4th quarter. Samalin Investment Counsel LLC now owns 96,273 shares of the company's stock valued at $557,000 after purchasing an additional 10,000 shares in the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Melco Resorts & Entertainment in the fourth quarter worth $58,000. Finally, Mariner LLC lifted its stake in shares of Melco Resorts & Entertainment by 12.3% during the fourth quarter. Mariner LLC now owns 95,939 shares of the company's stock worth $555,000 after buying an additional 10,491 shares during the period. Institutional investors own 39.62% of the company's stock.
Melco Resorts & Entertainment Price Performance
MLCO stock traded up $0.12 during trading on Friday, hitting $5.97. 3,022,307 shares of the company traded hands, compared to its average volume of 3,733,873. Melco Resorts & Entertainment Limited has a 1 year low of $4.55 and a 1 year high of $8.90. The stock's 50-day simple moving average is $5.26 and its 200 day simple moving average is $5.78. The company has a market cap of $2.54 billion, a PE ratio of -27.14, a P/E/G ratio of 0.63 and a beta of 0.71.
Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.01) by $0.13. Melco Resorts & Entertainment had a negative net margin of 2.04% and a negative return on equity of 16.35%. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the firm posted $0.04 earnings per share. The firm's quarterly revenue was up 10.8% compared to the same quarter last year. Research analysts expect that Melco Resorts & Entertainment Limited will post 0.16 earnings per share for the current year.
Analyst Ratings Changes
A number of brokerages recently issued reports on MLCO. Morgan Stanley upgraded Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and reduced their target price for the stock from $7.50 to $6.70 in a research note on Monday, March 3rd. Susquehanna reduced their price objective on Melco Resorts & Entertainment from $10.00 to $9.00 and set a "positive" rating for the company in a research note on Monday, February 3rd. UBS Group lowered Melco Resorts & Entertainment from a "buy" rating to a "sell" rating and set a $4.60 target price on the stock. in a research report on Wednesday, April 30th. Finally, Citigroup raised 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Melco Resorts & Entertainment has an average rating of "Moderate Buy" and an average target price of $6.84.
Get Our Latest Stock Report on Melco Resorts & Entertainment
Melco Resorts & Entertainment Company Profile
(
Free Report)
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.
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