National Bank of Canada FI Has $7.03 Million Stock Position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

National Bank of Canada FI boosted its position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 50,917.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 761,693 shares of the company's stock after buying an additional 760,200 shares during the quarter. National Bank of Canada FI owned 0.17% of Melco Resorts & Entertainment worth $7,030,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MLCO. GAMMA Investing LLC acquired a new stake in shares of Melco Resorts & Entertainment during the fourth quarter worth $37,000. FNY Investment Advisers LLC acquired a new position in shares of Melco Resorts & Entertainment in the fourth quarter worth about $88,000. Greenleaf Trust purchased a new position in shares of Melco Resorts & Entertainment in the fourth quarter worth approximately $92,000. Tobam raised its holdings in shares of Melco Resorts & Entertainment by 38.5% during the fourth quarter. Tobam now owns 13,728 shares of the company's stock valued at $122,000 after acquiring an additional 3,818 shares during the period. Finally, Banque Pictet & Cie SA purchased a new stake in shares of Melco Resorts & Entertainment in the 3rd quarter valued at approximately $175,000. 39.62% of the stock is owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Stock Down 2.1 %

MLCO stock traded down $0.17 during trading hours on Friday, hitting $7.85. The company's stock had a trading volume of 3,106,547 shares, compared to its average volume of 3,435,606. The company has a market capitalization of $3.49 billion, a PE ratio of -19.10 and a beta of 1.10. The stock has a 50 day moving average price of $7.06 and a two-hundred day moving average price of $7.79. Melco Resorts & Entertainment Limited has a 12 month low of $6.10 and a 12 month high of $13.91.

Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last posted its earnings results on Tuesday, April 30th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. Melco Resorts & Entertainment had a negative return on equity of 7.61% and a negative net margin of 4.34%. The business's revenue was up 55.2% compared to the same quarter last year. During the same period last year, the company earned ($0.14) earnings per share. Sell-side analysts expect that Melco Resorts & Entertainment Limited will post 0.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Susquehanna reduced their target price on Melco Resorts & Entertainment from $15.00 to $11.00 and set a "positive" rating for the company in a report on Monday, April 29th. StockNews.com upgraded Melco Resorts & Entertainment from a "sell" rating to a "hold" rating in a research report on Friday, April 5th. Morgan Stanley raised shares of Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $8.30 to $9.60 in a research report on Monday. Finally, Citigroup boosted their price objective on shares of Melco Resorts & Entertainment from $13.75 to $14.00 and gave the company a "buy" rating in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $13.82.

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.