Twinbeech Capital LP Has $1.27 Million Holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Twinbeech Capital LP increased its holdings in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 2,039.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 219,336 shares of the company's stock after purchasing an additional 209,084 shares during the quarter. Twinbeech Capital LP owned 0.05% of Melco Resorts & Entertainment worth $1,270,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC acquired a new position in Melco Resorts & Entertainment during the 4th quarter worth approximately $58,000. Wealthspire Advisors LLC acquired a new stake in Melco Resorts & Entertainment during the 4th quarter valued at $145,000. Cantor Fitzgerald L. P. acquired a new stake in Melco Resorts & Entertainment during the 4th quarter valued at $145,000. Tower Research Capital LLC TRC increased its position 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 worth $153,000 after buying an additional 22,370 shares during the period. Finally, Virtu Financial LLC bought a new position in Melco Resorts & Entertainment during the 4th quarter worth $167,000. Institutional investors and hedge funds own 39.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Morgan Stanley upgraded Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and lowered their price objective for the stock from $7.50 to $6.70 in a research report on Monday, March 3rd. UBS Group cut Melco Resorts & Entertainment from a "buy" rating to a "sell" rating and set a $4.60 price objective on the stock. in a research report on Wednesday, April 30th. Citigroup upgraded Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $6.25 price objective on the stock in a research report on Thursday, April 10th. Susquehanna decreased their price target on Melco Resorts & Entertainment from $10.00 to $9.00 and set a "positive" rating on the stock in a research report on Monday, February 3rd. Finally, 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 report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $6.69.

Melco Resorts & Entertainment Stock Performance

Shares of NASDAQ MLCO traded up $0.32 during mid-day trading on Tuesday, reaching $6.43. The company had a trading volume of 1,152,533 shares, compared to its average volume of 4,299,779. The business's 50-day simple moving average is $5.40 and its 200 day simple moving average is $5.73. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of -29.25, a PEG ratio of 0.63 and a beta of 0.71. Melco Resorts & Entertainment Limited has a one year low of $4.55 and a one year high of $8.90.

Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.13. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.21 billion. Melco Resorts & Entertainment had a negative return on equity of 16.35% and a negative net margin of 2.04%. Melco Resorts & Entertainment's revenue was up 10.8% compared to the same quarter last year. During the same period last year, the firm posted $0.04 earnings per share. On average, sell-side analysts anticipate that Melco Resorts & Entertainment Limited will post 0.16 EPS for the current year.

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.