TORQ CAPITAL MANAGEMENT HK Ltd Has $16.14 Million Stock Holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

TORQ CAPITAL MANAGEMENT HK Ltd increased its stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 268.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,819,627 shares of the company's stock after purchasing an additional 1,325,878 shares during the quarter. Melco Resorts & Entertainment makes up 42.4% of TORQ CAPITAL MANAGEMENT HK Ltd's investment portfolio, making the stock its 2nd largest holding. TORQ CAPITAL MANAGEMENT HK Ltd owned approximately 0.41% of Melco Resorts & Entertainment worth $16,140,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. acquired a new stake in Melco Resorts & Entertainment in the 1st quarter worth approximately $57,000. Penserra Capital Management LLC lifted its holdings in Melco Resorts & Entertainment by 49.8% in the 4th quarter. Penserra Capital Management LLC now owns 5,754 shares of the company's stock worth $66,000 after purchasing an additional 1,914 shares during the last quarter. Commonwealth Equity Services LLC acquired a new stake in Melco Resorts & Entertainment in the 3rd quarter worth approximately $70,000. FNY Investment Advisers LLC acquired a new stake in Melco Resorts & Entertainment in the 4th quarter worth approximately $88,000. Finally, Centaurus Financial Inc. acquired a new stake in Melco Resorts & Entertainment in the 2nd quarter worth approximately $104,000. 39.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MLCO shares. Morgan Stanley reiterated an "equal weight" rating and set a $9.60 price target on shares of Melco Resorts & Entertainment in a report on Tuesday, January 2nd. StockNews.com upgraded Melco Resorts & Entertainment from a "sell" rating to a "hold" rating in a report on Friday, April 5th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Melco Resorts & Entertainment has an average rating of "Moderate Buy" and a consensus target price of $14.78.

Melco Resorts & Entertainment Price Performance

Shares of NASDAQ MLCO traded down $0.49 during trading hours on Wednesday, reaching $6.40. The stock had a trading volume of 8,385,251 shares, compared to its average volume of 3,056,825. The business's fifty day moving average is $7.65 and its two-hundred day moving average is $8.01. The company has a market cap of $2.85 billion, a price-to-earnings ratio of -10.16 and a beta of 1.11. Melco Resorts & Entertainment Limited has a twelve month low of $6.30 and a twelve month high of $14.45.

Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last issued its earnings results on Thursday, February 29th. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.10. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.14 billion. The business's revenue for the quarter was up 224.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.51) earnings per share. Sell-side analysts forecast that Melco Resorts & Entertainment Limited will post 0.28 earnings per share for the current fiscal 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.