Two Sigma Investments LP increased its position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 1,588.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 579,341 shares of the company's stock after acquiring an additional 545,021 shares during the quarter. Two Sigma Investments LP owned about 0.14% of Melco Resorts & Entertainment worth $3,354,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Northern Trust Corp increased its stake in Melco Resorts & Entertainment by 274.4% during the 4th quarter. Northern Trust Corp now owns 362,738 shares of the company's stock valued at $2,100,000 after purchasing an additional 265,848 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Melco Resorts & Entertainment during the 4th quarter valued at approximately $649,000. Charles Schwab Investment Management Inc. increased its stake in Melco Resorts & Entertainment by 47.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 353,196 shares of the company's stock valued at $2,045,000 after purchasing an additional 113,328 shares in the last quarter. Renaissance Technologies LLC increased its stake in Melco Resorts & Entertainment by 92.2% during the 4th quarter. Renaissance Technologies LLC now owns 2,398,300 shares of the company's stock valued at $13,886,000 after purchasing an additional 1,150,500 shares in the last quarter. Finally, ARGA Investment Management LP increased its stake in Melco Resorts & Entertainment by 1.6% during the 4th 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 in the last quarter. Institutional investors own 39.62% of the company's stock.
Melco Resorts & Entertainment Stock Performance
NASDAQ MLCO traded down $0.03 during mid-day trading on Tuesday, reaching $6.25. 2,627,554 shares of the stock were exchanged, compared to its average volume of 3,691,037. The business's 50 day moving average is $5.50 and its 200-day moving average is $5.74. Melco Resorts & Entertainment Limited has a 1 year low of $4.55 and a 1 year high of $8.90. The company has a market capitalization of $2.62 billion, a P/E ratio of -28.41, a P/E/G ratio of 0.63 and a beta of 0.71.
Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 posted $0.04 earnings per share. The firm's quarterly revenue was up 10.8% compared to the same quarter last year. Equities analysts predict that Melco Resorts & Entertainment Limited will post 0.16 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
MLCO has been the topic of a number of recent analyst reports. Susquehanna cut their price target 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. UBS Group lowered 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 research note on Wednesday, April 30th. Bank of America upped their price target on shares of Melco Resorts & Entertainment from $5.70 to $6.60 and gave the company a "neutral" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. upped their price objective on shares of Melco Resorts & Entertainment from $6.50 to $7.20 and gave the company a "neutral" rating in a report on Monday. Finally, Citigroup raised shares of Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $6.25 price objective on the stock in a report on Thursday, April 10th. 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 company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $6.73.
Read Our Latest Stock Analysis on Melco Resorts & Entertainment
About Melco Resorts & Entertainment
(
Free Report)
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.
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