AGF Management Ltd. Sells 172,547 Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

AGF Management Ltd. reduced its holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 15.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 978,562 shares of the company's stock after selling 172,547 shares during the quarter. AGF Management Ltd. owned 0.22% of Melco Resorts & Entertainment worth $8,680,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC acquired a new stake in shares of Melco Resorts & Entertainment in the 4th quarter valued at about $37,000. FNY Investment Advisers LLC bought a new stake in Melco Resorts & Entertainment in the 4th quarter valued at approximately $88,000. Greenleaf Trust acquired a new position in Melco Resorts & Entertainment during the 4th quarter worth approximately $92,000. Tobam grew its stake in shares of Melco Resorts & Entertainment by 38.5% during the 4th quarter. Tobam now owns 13,728 shares of the company's stock worth $122,000 after acquiring an additional 3,818 shares in the last quarter. Finally, Banque Pictet & Cie SA acquired a new stake in shares of Melco Resorts & Entertainment in the third quarter valued at approximately $175,000. Institutional investors and hedge funds own 39.62% of the company's stock.

Analysts Set New Price Targets

MLCO has been the subject of a number of analyst reports. StockNews.com raised shares of Melco Resorts & Entertainment from a "sell" rating to a "hold" rating in a research report on Friday, April 5th. Susquehanna dropped their target price on Melco Resorts & Entertainment from $15.00 to $11.00 and set a "positive" rating on the stock in a report on Monday, April 29th. Citigroup boosted their price target on Melco Resorts & Entertainment from $13.75 to $14.00 and gave the stock a "buy" rating in a research report on Wednesday, May 1st. Finally, Morgan Stanley upgraded Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $8.30 to $9.60 in a research note on Monday, May 6th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $13.82.

Melco Resorts & Entertainment Stock Down 2.1 %

Shares of MLCO traded down $0.17 during trading hours on Friday, hitting $7.85. The company had a trading volume of 3,108,595 shares, compared to its average volume of 4,995,837. The business has a fifty day moving average of $7.07 and a 200-day moving average of $7.78. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of -18.69 and a beta of 1.10. 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 released its quarterly 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 firm had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.11 billion. Melco Resorts & Entertainment had a negative net margin of 4.34% and a negative return on equity of 7.61%. The business's revenue was up 55.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.14) EPS. On average, equities analysts expect that Melco Resorts & Entertainment Limited will post 0.28 EPS for the current fiscal year.

Melco Resorts & Entertainment Company 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.