Matthews International Capital Management LLC purchased a new position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) during the first quarter, HoldingsChannel reports. The fund purchased 134,313 shares of the company’s stock, valued at approximately $3,020,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Hanson & Doremus Investment Management grew its holdings in Melco Resorts & Entertainment by 7.1% during the 4th quarter. Hanson & Doremus Investment Management now owns 45,189 shares of the company’s stock valued at $796,000 after buying an additional 2,991 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its stake in Melco Resorts & Entertainment by 7.4% during the 1st quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 174,000 shares of the company’s stock worth $3,831,000 after buying an additional 12,000 shares in the last quarter. Almanack Investment Partners LLC. purchased a new stake in shares of Melco Resorts & Entertainment in the fourth quarter valued at approximately $130,000. PNC Financial Services Group Inc. grew its position in Melco Resorts & Entertainment by 3.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 320,908 shares of the company’s stock worth $5,653,000 after acquiring an additional 11,278 shares during the period. Finally, Flowering Tree Investment Management Pte. Ltd. grew its position in Melco Resorts & Entertainment by 7.1% in the fourth quarter. Flowering Tree Investment Management Pte. Ltd. now owns 3,475,123 shares of the company’s stock worth $61,232,000 after acquiring an additional 229,320 shares during the period. Institutional investors own 32.73% of the company’s stock.

MLCO has been the topic of several recent analyst reports. Zacks Investment Research upgraded Melco Resorts & Entertainment from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Wednesday, March 13th. CLSA upgraded Melco Resorts & Entertainment from an “underperform” rating to an “outperform” rating in a research report on Tuesday, February 19th. Wolfe Research cut Melco Resorts & Entertainment from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, May 8th. Daiwa Capital Markets initiated coverage on Melco Resorts & Entertainment in a research report on Wednesday, January 23rd. They set an “outperform” rating on the stock. Finally, Deutsche Bank set a $24.00 target price on Melco Resorts & Entertainment and gave the stock a “buy” rating in a research report on Wednesday, February 20th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Melco Resorts & Entertainment currently has an average rating of “Buy” and a consensus target price of $28.13.

NASDAQ MLCO traded down $0.32 on Wednesday, hitting $21.15. 3,173 shares of the company’s stock were exchanged, compared to its average volume of 2,489,303. The company has a current ratio of 1.05, a quick ratio of 1.03 and a debt-to-equity ratio of 1.51. Melco Resorts & Entertainment Limited has a fifty-two week low of $15.33 and a fifty-two week high of $32.93. The stock has a market capitalization of $10.61 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 1.15 and a beta of 1.64.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.03. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. Melco Resorts & Entertainment had a return on equity of 13.47% and a net margin of 6.00%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.32 EPS. Equities analysts forecast that Melco Resorts & Entertainment Limited will post 0.94 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Monday, May 20th will be paid a dividend of $0.1551 per share. This is a positive change from Melco Resorts & Entertainment’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, May 17th. This represents a $0.62 annualized dividend and a dividend yield of 2.93%. Melco Resorts & Entertainment’s payout ratio is 68.54%.

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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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