Dimensional Fund Advisors LP Invests $2.98 Million in Melco Resorts & Entertainment Ltd (MLCO)

Dimensional Fund Advisors LP bought a new position in shares of Melco Resorts & Entertainment Ltd (NASDAQ:MLCO) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 123,326 shares of the company’s stock, valued at approximately $2,975,000.

A number of other hedge funds have also recently made changes to their positions in the business. Canada Pension Plan Investment Board acquired a new stake in shares of Melco Resorts & Entertainment during the 3rd quarter worth about $112,000. LS Investment Advisors LLC bought a new position in Melco Resorts & Entertainment during the third quarter worth about $129,000. Nordea Investment Management AB bought a new position in Melco Resorts & Entertainment during the third quarter worth about $136,000. Hartford Investment Management Co. bought a new position in Melco Resorts & Entertainment during the third quarter worth about $203,000. Finally, Cavalier Investments LLC bought a new position in Melco Resorts & Entertainment during the third quarter worth about $205,000. Hedge funds and other institutional investors own 40.61% of the company’s stock.

A number of research firms recently commented on MLCO. Zacks Investment Research downgraded shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. TheStreet upgraded shares of Melco Resorts & Entertainment from a “c+” rating to a “b” rating in a research note on Tuesday, November 21st. Goldman Sachs Group upgraded shares of Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating in a research note on Sunday, February 4th. BidaskClub downgraded shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Finally, Roth Capital started coverage on shares of Melco Resorts & Entertainment in a research report on Wednesday, November 1st. They set a “buy” rating and a $34.00 target price on the stock. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Melco Resorts & Entertainment presently has a consensus rating of “Buy” and a consensus price target of $27.03.

Melco Resorts & Entertainment Ltd (MLCO) opened at $27.11 on Wednesday. The stock has a market cap of $13,194.77, a P/E ratio of 39.29, a PEG ratio of 1.96 and a beta of 1.72. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.10 and a quick ratio of 1.07. Melco Resorts & Entertainment Ltd has a 1 year low of $16.00 and a 1 year high of $30.49.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.36 billion. Melco Resorts & Entertainment had a net margin of 6.47% and a return on equity of 13.83%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. equities research analysts forecast that Melco Resorts & Entertainment Ltd will post 1.14 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 7th. Shareholders of record on Tuesday, February 20th will be paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Friday, February 16th. This is a positive change from Melco Resorts & Entertainment’s previous quarterly dividend of $0.02. Melco Resorts & Entertainment’s payout ratio is 50.73%.

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Melco Resorts & Entertainment Company Profile

Melco Resorts & Entertainment Limited, formerly Melco Crown Entertainment Limited, is a holding company. The Company, through its subsidiaries, develops, owns and operates casino gaming and entertainment casino resort facilities in Asia. It is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in over two geographic areas, which include Macau and the Philippines.

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

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