West Family Investments Inc. bought a new stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO – Get Rating) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 12,848 shares of the company’s stock, valued at approximately $85,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Ronald Blue Trust Inc. purchased a new stake in Melco Resorts & Entertainment in the second quarter valued at approximately $30,000. Quadrant Capital Group LLC raised its stake in shares of Melco Resorts & Entertainment by 103.0% during the second quarter. Quadrant Capital Group LLC now owns 6,661 shares of the company’s stock worth $38,000 after acquiring an additional 3,380 shares in the last quarter. Arden Trust Co purchased a new position in shares of Melco Resorts & Entertainment during the third quarter worth approximately $70,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Melco Resorts & Entertainment during the second quarter worth approximately $78,000. Finally, XTX Topco Ltd purchased a new position in shares of Melco Resorts & Entertainment during the first quarter worth approximately $110,000. 39.70% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
MLCO has been the topic of several recent analyst reports. Credit Suisse Group cut shares of Melco Resorts & Entertainment from an “outperform” rating to a “neutral” rating in a report on Monday, October 17th. StockNews.com upgraded shares of Melco Resorts & Entertainment to a “sell” rating in a report on Thursday, December 1st. Finally, JPMorgan Chase & Co. upgraded shares of Melco Resorts & Entertainment from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $7.00 to $10.00 in a report on Monday, November 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $10.75.
Melco Resorts & Entertainment Trading Down 2.6 %
NASDAQ:MLCO opened at $13.10 on Wednesday. The firm’s fifty day simple moving average is $10.92 and its 200 day simple moving average is $7.62. Melco Resorts & Entertainment Limited has a twelve month low of $4.06 and a twelve month high of $14.15. The company has a current ratio of 2.34, a quick ratio of 2.31 and a debt-to-equity ratio of 21.09.
Melco Resorts & Entertainment (NASDAQ:MLCO – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.04. The business had revenue of $241.84 million for the quarter, compared to analysts’ expectations of $305.79 million. Melco Resorts & Entertainment had a negative net margin of 56.15% and a negative return on equity of 182.94%. Equities analysts predict that Melco Resorts & Entertainment Limited will post -2.05 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.
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