Man Group plc Buys Shares of 660,488 Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Man Group plc acquired a new position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 660,488 shares of the company's stock, valued at approximately $3,824,000. Man Group plc owned 0.16% of Melco Resorts & Entertainment at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MLCO. ARGA Investment Management LP lifted its holdings in shares of Melco Resorts & Entertainment by 1.6% during the fourth quarter. ARGA Investment Management LP now owns 29,652,424 shares of the company's stock valued at $171,688,000 after purchasing an additional 456,117 shares during the last quarter. Eminence Capital LP lifted its holdings in shares of Melco Resorts & Entertainment by 22.1% during the fourth quarter. Eminence Capital LP now owns 7,735,919 shares of the company's stock valued at $44,791,000 after purchasing an additional 1,402,619 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Melco Resorts & Entertainment by 1.4% during the fourth quarter. Nuveen Asset Management LLC now owns 6,081,335 shares of the company's stock valued at $35,211,000 after purchasing an additional 83,268 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Melco Resorts & Entertainment during the fourth quarter valued at approximately $28,989,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Melco Resorts & Entertainment by 92.2% during the fourth quarter. Renaissance Technologies LLC now owns 2,398,300 shares of the company's stock valued at $13,886,000 after purchasing an additional 1,150,500 shares during the last quarter. 39.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MLCO shares. Susquehanna lowered their target price on shares of Melco Resorts & Entertainment from $10.00 to $9.00 and set a "positive" rating for the company in a report on Monday, February 3rd. Bank of America lifted their target price on shares of Melco Resorts & Entertainment from $5.70 to $6.60 and gave the company a "neutral" rating in a report on Tuesday, May 20th. UBS Group lowered shares of 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. Citigroup upgraded shares of Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $6.25 price objective for the company in a report on Thursday, April 10th. Finally, Morgan Stanley upgraded shares of Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and decreased their price objective for the stock from $7.50 to $6.70 in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Melco Resorts & Entertainment currently has an average rating of "Hold" and a consensus price target of $6.69.

Melco Resorts & Entertainment Price Performance

NASDAQ MLCO traded up $0.31 during mid-day trading on Tuesday, reaching $6.42. The stock had a trading volume of 3,028,325 shares, compared to its average volume of 3,711,592. Melco Resorts & Entertainment Limited has a 1 year low of $4.55 and a 1 year high of $8.90. The stock has a market cap of $2.69 billion, a PE ratio of -29.18, a price-to-earnings-growth ratio of 0.63 and a beta of 0.71. The company has a fifty day moving average price of $5.42 and a 200 day moving average price of $5.74.

Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates 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%. The firm's revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.04 EPS. As a group, equities research analysts expect that Melco Resorts & Entertainment Limited will post 0.16 earnings per share for the current year.

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.