SG Americas Securities LLC Purchases 56,485 Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

SG Americas Securities LLC lifted its position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 37.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 208,883 shares of the company's stock after purchasing an additional 56,485 shares during the quarter. SG Americas Securities LLC's holdings in Melco Resorts & Entertainment were worth $1,101,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MLCO. GAMMA Investing LLC boosted its holdings in shares of Melco Resorts & Entertainment by 88.1% in the 1st quarter. GAMMA Investing LLC now owns 14,171 shares of the company's stock worth $75,000 after purchasing an additional 6,638 shares in the last quarter. Vident Advisory LLC purchased a new stake in Melco Resorts & Entertainment during the 4th quarter valued at about $142,000. Wealthspire Advisors LLC purchased a new stake in Melco Resorts & Entertainment during the 4th quarter valued at about $145,000. Cantor Fitzgerald L. P. purchased a new stake in Melco Resorts & Entertainment during the 4th quarter valued at about $145,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Melco Resorts & Entertainment by 546.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 26,460 shares of the company's stock valued at $153,000 after acquiring an additional 22,370 shares during the period. 39.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MLCO. Morgan Stanley raised Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and lowered their price target for the company from $7.50 to $6.70 in a research report on Monday, March 3rd. Wall Street Zen raised Melco Resorts & Entertainment from a "hold" rating to a "buy" rating in a research report on Saturday. UBS Group lowered Melco Resorts & Entertainment from a "buy" rating to a "sell" rating and set a $4.60 price target for the company. in a research report on Wednesday, April 30th. Bank of America upped their price target on Melco Resorts & Entertainment from $5.70 to $6.60 and gave the company a "neutral" rating in a research report on Tuesday, May 20th. Finally, Citigroup raised 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 equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Melco Resorts & Entertainment presently has an average rating of "Hold" and a consensus target price of $6.73.

Melco Resorts & Entertainment Stock Up 0.5%

Shares of NASDAQ:MLCO traded up $0.03 during trading on Friday, hitting $6.40. The stock had a trading volume of 1,388,394 shares, compared to its average volume of 3,702,523. Melco Resorts & Entertainment Limited has a 12 month low of $4.55 and a 12 month high of $8.90. The company has a market capitalization of $2.69 billion, a PE ratio of 45.71, a PEG ratio of 0.65 and a beta of 0.79. The firm's fifty day moving average is $5.82 and its 200 day moving average is $5.74.

Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.13. Melco Resorts & Entertainment had a negative return on equity of 12.58% and a net margin of 1.28%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the company earned $0.04 EPS. The business's revenue was up 10.8% compared to the same quarter last year. Equities research analysts expect that Melco Resorts & Entertainment Limited will post 0.16 EPS 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.