Korea Investment CORP reduced its position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 71.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,200 shares of the company’s stock after selling 155,700 shares during the period. Korea Investment CORP’s holdings in Melco Resorts & Entertainment were worth $1,294,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. First Hawaiian Bank purchased a new position in shares of Melco Resorts & Entertainment in the third quarter worth approximately $163,000. Sumitomo Life Insurance Co. acquired a new stake in shares of Melco Resorts & Entertainment during the third quarter worth approximately $201,000. Lucia Wealth Services LLC acquired a new stake in shares of Melco Resorts & Entertainment during the second quarter worth approximately $210,000. Rothschild Investment Corp IL boosted its holdings in shares of Melco Resorts & Entertainment by 49.0% during the third quarter. Rothschild Investment Corp IL now owns 10,730 shares of the company’s stock worth $227,000 after purchasing an additional 3,530 shares during the period. Finally, USA Financial Portformulas Corp acquired a new stake in shares of Melco Resorts & Entertainment during the third quarter worth approximately $230,000. 36.24% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ MLCO opened at $17.96 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $9.19 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 1.34 and a beta of 1.64. Melco Resorts & Entertainment Limited has a 12-month low of $15.33 and a 12-month high of $32.95.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its earnings results on Thursday, November 8th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.18). The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.34 billion. Melco Resorts & Entertainment had a net margin of 5.98% and a return on equity of 11.89%. Melco Resorts & Entertainment’s revenue was down 11.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.24 earnings per share. As a group, analysts anticipate that Melco Resorts & Entertainment Limited will post 1.07 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 29th. Shareholders of record on Monday, November 19th were paid a $0.1451 dividend. The ex-dividend date was Friday, November 16th. This is a boost from Melco Resorts & Entertainment’s previous quarterly dividend of $0.15. This represents a $0.58 dividend on an annualized basis and a yield of 3.23%. Melco Resorts & Entertainment’s payout ratio is 61.96%.

Several analysts recently commented on the stock. Citigroup set a $29.00 price target on shares of Melco Resorts & Entertainment and gave the stock a “buy” rating in a report on Thursday. ValuEngine upgraded shares of Melco Resorts & Entertainment from a “strong sell” rating to a “sell” rating in a report on Friday, November 16th. BidaskClub upgraded shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a report on Tuesday, November 27th. HSBC set a $33.00 price target on shares of Melco Resorts & Entertainment and gave the stock a “buy” rating in a report on Tuesday, October 16th. Finally, Sanford C. Bernstein decreased their price target on shares of Melco Resorts & Entertainment from $34.50 to $27.00 and set an “outperform” rating for the company in a report on Monday, September 17th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $32.30.

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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.

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Institutional Ownership by Quarter for Melco Resorts & Entertainment (NASDAQ:MLCO)

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