Two Sigma Advisers LP Has $741,000 Stock Holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

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

Other hedge funds and other institutional investors have also modified their holdings of the company. ARGA Investment Management LP lifted its stake in Melco Resorts & Entertainment by 1.6% during the fourth quarter. ARGA Investment Management LP now owns 29,652,424 shares of the company's stock valued at $171,688,000 after purchasing an additional 456,117 shares during the last quarter. Bleakley Financial Group LLC lifted its position in shares of Melco Resorts & Entertainment by 28.1% during the 4th quarter. Bleakley Financial Group LLC now owns 74,409 shares of the company's stock valued at $431,000 after acquiring an additional 16,308 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in shares of Melco Resorts & Entertainment during the 4th quarter valued at $407,000. Mcdonald Partners LLC boosted its stake in shares of Melco Resorts & Entertainment by 19.4% during the 4th quarter. Mcdonald Partners LLC now owns 92,360 shares of the company's stock worth $535,000 after acquiring an additional 15,021 shares in the last quarter. Finally, Wealthspire Advisors LLC acquired a new position in shares of Melco Resorts & Entertainment in the 4th quarter worth $145,000. 39.62% of the stock is currently owned by institutional investors.

Melco Resorts & Entertainment Stock Performance

Shares of NASDAQ MLCO traded down $0.13 during mid-day trading on Thursday, reaching $5.97. The company had a trading volume of 832,974 shares, compared to its average volume of 3,673,514. The stock has a market capitalization of $2.50 billion, a PE ratio of -27.11, a price-to-earnings-growth ratio of 0.63 and a beta of 0.71. Melco Resorts & Entertainment Limited has a twelve month low of $4.55 and a twelve month high of $8.90. The stock's 50 day moving average is $5.52 and its 200-day moving average is $5.74.

Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.21 billion. Melco Resorts & Entertainment had a negative net margin of 2.04% and a negative return on equity of 16.35%. Melco Resorts & Entertainment's quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.04 EPS. On average, sell-side analysts anticipate that Melco Resorts & Entertainment Limited will post 0.16 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on MLCO. JPMorgan Chase & Co. upped their price target on shares of Melco Resorts & Entertainment from $6.50 to $7.20 and gave the company a "neutral" rating in a research report on Monday. Citigroup upgraded Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $6.25 target price for the company in a report on Thursday, April 10th. Morgan Stanley upgraded 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 report on Monday, March 3rd. UBS Group downgraded 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. Finally, Bank of America raised their price objective 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 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. Based on data from MarketBeat, Melco Resorts & Entertainment presently has a consensus rating of "Hold" and an average 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.