UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stock Holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 17.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 447,953 shares of the company's stock after purchasing an additional 67,581 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.11% of Melco Resorts & Entertainment worth $2,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MLCO. Eminence Capital LP raised its stake in Melco Resorts & Entertainment by 22.1% during the 4th quarter. Eminence Capital LP now owns 7,735,919 shares of the company's stock valued at $44,791,000 after buying an additional 1,402,619 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Melco Resorts & Entertainment by 1.4% during the 4th quarter. Nuveen Asset Management LLC now owns 6,081,335 shares of the company's stock worth $35,211,000 after acquiring an additional 83,268 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Melco Resorts & Entertainment during the 4th quarter worth $28,989,000. Renaissance Technologies LLC boosted its stake in shares of Melco Resorts & Entertainment by 92.2% during the 4th quarter. Renaissance Technologies LLC now owns 2,398,300 shares of the company's stock worth $13,886,000 after acquiring an additional 1,150,500 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Melco Resorts & Entertainment by 206.5% during the 4th quarter. BNP Paribas Financial Markets now owns 2,009,189 shares of the company's stock worth $11,633,000 after acquiring an additional 1,353,617 shares during the last quarter. 39.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on MLCO shares. Citigroup upgraded 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 research report on Thursday, April 10th. Morgan Stanley upgraded shares of Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and reduced their target price for the stock from $7.50 to $6.70 in a report on Monday, March 3rd. Bank of America boosted their target price on shares of Melco Resorts & Entertainment from $5.70 to $6.60 and gave the stock a "neutral" rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. boosted their target price on shares of Melco Resorts & Entertainment from $6.50 to $7.20 and gave the stock a "neutral" rating in a report on Monday, June 2nd. Finally, UBS Group downgraded shares of Melco Resorts & Entertainment from a "buy" rating to a "sell" rating and set a $4.60 target price on the stock. in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, two have given 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 a consensus price target of $6.73.

Melco Resorts & Entertainment Price Performance

Shares of Melco Resorts & Entertainment stock traded up $0.25 during trading hours on Tuesday, reaching $6.40. The company's stock had a trading volume of 2,250,727 shares, compared to its average volume of 3,696,036. The stock has a market cap of $2.69 billion, a P/E ratio of -29.09, a P/E/G ratio of 0.63 and a beta of 0.79. Melco Resorts & Entertainment Limited has a one year low of $4.55 and a one year high of $8.90. The firm has a 50 day moving average price of $5.58 and a 200-day moving average price of $5.74.

Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.13. The company had revenue of $1.23 billion for 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%. The firm's revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.04 EPS. As a group, sell-side analysts forecast 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.