Raymond James Financial Inc. bought a new position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 112,160 shares of the company's stock, valued at approximately $649,000.
Several other large investors have also recently added to or reduced their stakes in MLCO. GAMMA Investing LLC boosted its position in shares of Melco Resorts & Entertainment by 140.7% during the fourth 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. Samalin Investment Counsel LLC grew its position in Melco Resorts & Entertainment by 11.6% during the 4th quarter. Samalin Investment Counsel LLC now owns 96,273 shares of the company's stock worth $557,000 after purchasing an additional 10,000 shares in the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new position in Melco Resorts & Entertainment during the 4th quarter worth approximately $58,000. Empirical Asset Management LLC purchased a new position in shares of Melco Resorts & Entertainment during the 4th quarter valued at $73,000. Finally, Mcdonald Partners LLC grew its holdings in shares of Melco Resorts & Entertainment by 19.4% during the 4th quarter. Mcdonald Partners LLC now owns 92,360 shares of the company's stock valued at $535,000 after acquiring an additional 15,021 shares in the last quarter. 39.62% of the stock is currently owned by institutional investors and hedge funds.
Melco Resorts & Entertainment Trading Up 0.6%
Melco Resorts & Entertainment stock traded up $0.04 during mid-day trading on Tuesday, reaching $6.29. The company had a trading volume of 715,113 shares, compared to its average volume of 3,724,353. The business has a fifty day simple moving average of $5.27 and a 200 day simple moving average of $5.77. The company has a market cap of $2.68 billion, a P/E ratio of -28.59, a P/E/G ratio of 0.63 and a beta of 0.71. Melco Resorts & Entertainment Limited has a fifty-two week low of $4.55 and a fifty-two week high of $8.90.
Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.13. Melco Resorts & Entertainment had a negative net margin of 2.04% and a negative return on equity of 16.35%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the business earned $0.04 earnings per share. The business's quarterly revenue was up 10.8% compared to the same quarter last year. Research analysts forecast that Melco Resorts & Entertainment Limited will post 0.16 EPS for the current year.
Wall Street Analyst Weigh In
A number of research firms have weighed in on MLCO. Citigroup raised shares of Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $6.25 target price for the company in a research report on Thursday, April 10th. UBS Group lowered shares of Melco Resorts & Entertainment from a "buy" rating to a "sell" rating and set a $4.60 price objective for the company. in a report on Wednesday, April 30th. Morgan Stanley raised shares of Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and lowered their price target for the company from $7.50 to $6.70 in a report on Monday, March 3rd. Finally, Susquehanna reduced their price objective on shares of Melco Resorts & Entertainment from $10.00 to $9.00 and set a "positive" rating on the stock in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Melco Resorts & Entertainment has a consensus rating of "Moderate Buy" and an average target price of $6.84.
Read Our Latest Stock Analysis on Melco Resorts & Entertainment
About Melco Resorts & Entertainment
(
Free Report)
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.
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