Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Shares Bought by Nuveen Asset Management LLC

Nuveen Asset Management LLC increased its stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,081,335 shares of the company's stock after buying an additional 83,268 shares during the period. Nuveen Asset Management LLC owned 1.45% of Melco Resorts & Entertainment worth $35,211,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its stake in Melco Resorts & Entertainment by 8.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 50,215 shares of the company's stock worth $291,000 after buying an additional 3,873 shares during the period. Samalin Investment Counsel LLC increased its stake in Melco Resorts & Entertainment by 11.6% in the 4th quarter. Samalin Investment Counsel LLC now owns 96,273 shares of the company's stock worth $557,000 after buying an additional 10,000 shares during the period. Patriot Financial Group Insurance Agency LLC purchased a new position in Melco Resorts & Entertainment in the 4th quarter worth about $58,000. Mariner LLC increased its stake in Melco Resorts & Entertainment by 12.3% in the 4th 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. Finally, Mcdonald Partners LLC increased its stake in Melco Resorts & Entertainment by 19.4% in the 4th quarter. Mcdonald Partners LLC now owns 92,360 shares of the company's stock worth $535,000 after buying an additional 15,021 shares during the period. Hedge funds and other institutional investors own 39.62% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Citigroup raised shares of Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $6.25 price target on the stock in a research note on Thursday, April 10th. Morgan Stanley upgraded shares of Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and dropped their target price for the stock from $7.50 to $6.70 in a report on Monday, March 3rd. Susquehanna dropped their target price on shares of Melco Resorts & Entertainment from $10.00 to $9.00 and set a "positive" rating on the stock in a report on Monday, February 3rd. Bank of America increased their target price on shares of Melco Resorts & Entertainment from $5.70 to $6.60 and gave the stock a "neutral" rating in a report on Tuesday. Finally, UBS Group cut shares of Melco Resorts & Entertainment from a "buy" rating to a "sell" rating and set a $4.60 target price on the stock. in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $6.69.

Melco Resorts & Entertainment Trading Down 0.8%

Shares of NASDAQ:MLCO traded down $0.05 during trading on Friday, reaching $6.11. The stock had a trading volume of 1,266,870 shares, compared to its average volume of 3,712,644. Melco Resorts & Entertainment Limited has a one year low of $4.55 and a one year high of $8.90. The company has a market capitalization of $2.56 billion, a P/E ratio of -27.77, a PEG ratio of 0.63 and a beta of 0.71. The firm's 50-day simple moving average is $5.39 and its 200 day simple moving average is $5.75.

Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.12 earnings per share for the quarter, beating 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 business had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.21 billion. During the same period last year, the business earned $0.04 EPS. The company's revenue was up 10.8% compared to the same quarter last year. Equities research analysts forecast that Melco Resorts & Entertainment Limited will post 0.16 earnings per share for the current fiscal year.

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.