Two Sigma Advisers LP Grows Stock Position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Two Sigma Advisers LP lifted its holdings in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 759.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 128,000 shares of the company's stock after acquiring an additional 113,100 shares during the period. Two Sigma Advisers LP's holdings in Melco Resorts & Entertainment were worth $741,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership bought a new position in shares of Melco Resorts & Entertainment during the fourth quarter valued at about $28,989,000. Eminence Capital LP grew its stake in shares of Melco Resorts & Entertainment by 22.1% in the fourth quarter. Eminence Capital LP now owns 7,735,919 shares of the company's stock worth $44,791,000 after acquiring an additional 1,402,619 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Melco Resorts & Entertainment by 206.5% in the 4th quarter. BNP Paribas Financial Markets now owns 2,009,189 shares of the company's stock worth $11,633,000 after buying an additional 1,353,617 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Melco Resorts & Entertainment by 1,240.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,342,132 shares of the company's stock valued at $7,771,000 after purchasing an additional 1,241,986 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Melco Resorts & Entertainment by 92.2% in the 4th quarter. Renaissance Technologies LLC now owns 2,398,300 shares of the company's stock worth $13,886,000 after purchasing an additional 1,150,500 shares during the period. 39.62% of the stock is owned by institutional investors.

Melco Resorts & Entertainment Price Performance

Melco Resorts & Entertainment stock traded down $0.04 during trading on Friday, reaching $5.89. 3,310,053 shares of the company were exchanged, compared to its average volume of 3,686,636. Melco Resorts & Entertainment Limited has a 52-week low of $4.55 and a 52-week high of $8.90. The company has a market capitalization of $2.47 billion, a P/E ratio of -26.77, a PEG ratio of 0.63 and a beta of 0.71. The stock's 50 day simple moving average is $5.54 and its two-hundred day simple 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 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 firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the firm earned $0.04 EPS. The firm's revenue for the quarter was up 10.8% on a year-over-year basis. As a group, equities analysts forecast that Melco Resorts & Entertainment Limited will post 0.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MLCO shares. JPMorgan Chase & Co. upped their price objective on Melco Resorts & Entertainment from $6.50 to $7.20 and gave the stock a "neutral" rating in a research note on Monday. UBS Group lowered Melco Resorts & Entertainment from a "buy" rating to a "sell" rating and set a $4.60 price objective for the company. in a research note on Wednesday, April 30th. Morgan Stanley raised shares of Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and reduced their price objective for the stock from $7.50 to $6.70 in a research report on Monday, March 3rd. Citigroup raised shares of Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $6.25 target price for the company in a research note on Thursday, April 10th. Finally, Bank of America lifted their target price 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. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $6.73.

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.