Nuveen Asset Management LLC Increases Holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Nuveen Asset Management LLC increased its stake in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,081,335 shares of the company's stock after acquiring an additional 83,268 shares during the quarter. Nuveen Asset Management LLC owned approximately 1.45% of Melco Resorts & Entertainment worth $35,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Melco Resorts & Entertainment during the fourth quarter valued at approximately $58,000. Wealthspire Advisors LLC purchased a new stake in Melco Resorts & Entertainment during the 4th quarter valued at $145,000. Cantor Fitzgerald L. P. bought a new stake in Melco Resorts & Entertainment in the 4th quarter worth $145,000. Tower Research Capital LLC TRC grew its holdings in Melco Resorts & Entertainment by 546.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 26,460 shares of the company's stock worth $153,000 after acquiring an additional 22,370 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Melco Resorts & Entertainment in the fourth quarter valued at about $167,000. 39.62% of the stock is owned by hedge funds and other institutional investors.

Melco Resorts & Entertainment Stock Down 0.8%

NASDAQ:MLCO traded down $0.05 on Monday, hitting $6.11. The stock had a trading volume of 1,266,870 shares, compared to its average volume of 3,714,336. Melco Resorts & Entertainment Limited has a 52-week low of $4.55 and a 52-week high of $8.90. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of -27.77, a price-to-earnings-growth ratio of 0.63 and a beta of 0.71. The business's 50-day simple moving average is $5.39 and its two-hundred day simple moving average is $5.74.

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, topping the consensus estimate 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 the consensus estimate of $1.21 billion. During the same period last year, the firm earned $0.04 earnings per share. The company's quarterly revenue was up 10.8% on a year-over-year basis. As a group, equities research analysts anticipate that Melco Resorts & Entertainment Limited will post 0.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MLCO. 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. Bank of America raised their price target on Melco Resorts & Entertainment from $5.70 to $6.60 and gave the stock a "neutral" rating in a research note on Tuesday, May 20th. UBS Group cut shares of Melco Resorts & Entertainment from a "buy" rating to a "sell" rating and set a $4.60 price target on the stock. 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, Susquehanna cut 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 research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $6.69.

Melco Resorts & Entertainment 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.