Invenomic Capital Management LP Has $6.94 Million Stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Invenomic Capital Management LP lowered its holdings in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 35.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,199,375 shares of the company's stock after selling 666,324 shares during the quarter. Invenomic Capital Management LP owned 0.29% of Melco Resorts & Entertainment worth $6,944,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. GAMMA Investing LLC raised its holdings in Melco Resorts & Entertainment by 140.7% during the 4th quarter. GAMMA Investing LLC now owns 7,533 shares of the company's stock worth $44,000 after buying an additional 4,403 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Melco Resorts & Entertainment during the fourth quarter worth $58,000. Empirical Asset Management LLC acquired a new stake in shares of Melco Resorts & Entertainment during the fourth quarter worth $73,000. Wealthspire Advisors LLC bought a new stake in Melco Resorts & Entertainment in the 4th quarter valued at $145,000. Finally, Cantor Fitzgerald L. P. acquired a new position in Melco Resorts & Entertainment in the 4th quarter worth $145,000. Institutional investors own 39.62% of the company's stock.

Wall Street Analysts Forecast Growth

MLCO has been the topic of several recent research reports. UBS Group downgraded 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. Susquehanna dropped their target price 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. Citigroup raised Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $6.25 price target for the company in a research report on Thursday, April 10th. Finally, Morgan Stanley upgraded shares of Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and lowered their price objective for the company from $7.50 to $6.70 in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $6.84.

Melco Resorts & Entertainment Stock Performance

NASDAQ MLCO traded up $0.09 during trading hours on Wednesday, hitting $6.37. 3,358,193 shares of the company traded hands, compared to its average volume of 3,732,153. The business's 50-day moving average is $5.30 and its 200-day moving average is $5.78. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of -28.95, a P/E/G 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.

Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.21 billion. Melco Resorts & Entertainment had a negative return on equity of 16.35% and a negative net margin of 2.04%. The firm's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.04 EPS. Analysts predict 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.