Melco Resorts & Entertainment Limited $MLCO Shares Bought by Bleakley Financial Group LLC

Bleakley Financial Group LLC boosted its position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 53.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 193,422 shares of the company’s stock after purchasing an additional 67,686 shares during the quarter. Bleakley Financial Group LLC’s holdings in Melco Resorts & Entertainment were worth $1,398,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC increased its position in Melco Resorts & Entertainment by 5.9% during the first quarter. DAVENPORT & Co LLC now owns 85,972 shares of the company’s stock worth $453,000 after buying an additional 4,815 shares in the last quarter. ARGA Investment Management LP boosted its holdings in shares of Melco Resorts & Entertainment by 0.4% in the 1st quarter. ARGA Investment Management LP now owns 29,760,953 shares of the company’s stock valued at $156,840,000 after purchasing an additional 108,529 shares during the last quarter. Brown Advisory Inc. acquired a new position in Melco Resorts & Entertainment in the first quarter valued at $53,000. XTX Topco Ltd grew its holdings in shares of Melco Resorts & Entertainment by 164.9% during the 1st quarter. XTX Topco Ltd now owns 103,803 shares of the company’s stock worth $547,000 after purchasing an additional 64,624 shares during the period. Finally, US Bancorp DE increased its position in shares of Melco Resorts & Entertainment by 294.1% in the first quarter. US Bancorp DE now owns 20,874 shares of the company’s stock worth $110,000 after acquiring an additional 15,578 shares in the last quarter. 39.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MLCO has been the topic of a number of recent research reports. Zacks Research cut Melco Resorts & Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 16th. JPMorgan Chase & Co. upgraded Melco Resorts & Entertainment from a “neutral” rating to an “overweight” rating and raised their target price for the company from $7.20 to $9.50 in a report on Tuesday, July 1st. Wall Street Zen cut Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a report on Friday, September 26th. CLSA raised shares of Melco Resorts & Entertainment from a “hold” rating to an “outperform” rating in a research report on Wednesday, September 3rd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Melco Resorts & Entertainment in a research note on Saturday. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Melco Resorts & Entertainment currently has an average rating of “Hold” and an average target price of $8.15.

Melco Resorts & Entertainment Stock Down 0.1%

Shares of NASDAQ MLCO opened at $8.32 on Friday. Melco Resorts & Entertainment Limited has a fifty-two week low of $4.55 and a fifty-two week high of $10.15. The business has a 50 day moving average price of $9.11 and a two-hundred day moving average price of $7.68. The firm has a market cap of $3.49 billion, a PE ratio of 64.00 and a beta of 0.71.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its earnings results on Thursday, July 31st. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.14. Melco Resorts & Entertainment had a negative return on equity of 18.47% and a net margin of 1.15%.The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the company posted $0.05 EPS. Melco Resorts & Entertainment’s quarterly revenue was up 14.5% on a year-over-year basis. On average, analysts anticipate that Melco Resorts & Entertainment Limited will post 0.16 earnings per share for the current 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.