Renaissance Technologies LLC lowered its stake in Melco PBL Holdings (NASDAQ:MLCO) by 86.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 306,700 shares of the company’s stock after selling 1,942,200 shares during the quarter. Renaissance Technologies LLC owned about 0.06% of Melco PBL worth $8,907,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of MLCO. Centenus Global Management LP acquired a new stake in shares of Melco PBL during the fourth quarter worth about $4,080,000. Delpha Capital Management LLC acquired a new stake in shares of Melco PBL during the fourth quarter worth about $183,000. Geode Capital Management LLC lifted its position in shares of Melco PBL by 11.5% during the fourth quarter. Geode Capital Management LLC now owns 963,328 shares of the company’s stock worth $27,716,000 after purchasing an additional 99,227 shares in the last quarter. Allianz Asset Management GmbH lifted its position in shares of Melco PBL by 23.8% during the fourth quarter. Allianz Asset Management GmbH now owns 1,207,844 shares of the company’s stock worth $35,075,000 after purchasing an additional 232,569 shares in the last quarter. Finally, Eagle Global Advisors LLC lifted its position in shares of Melco PBL by 88.4% during the fourth quarter. Eagle Global Advisors LLC now owns 246,908 shares of the company’s stock worth $7,170,000 after purchasing an additional 115,881 shares in the last quarter. 41.04% of the stock is currently owned by institutional investors.
MLCO stock opened at $28.37 on Monday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.07 and a current ratio of 1.10. Melco PBL Holdings has a fifty-two week low of $19.29 and a fifty-two week high of $30.49. The company has a market cap of $13,957.33, a P/E ratio of 30.84, a PEG ratio of 2.07 and a beta of 1.55.
Melco PBL (NASDAQ:MLCO) last released its earnings results on Thursday, February 8th. The company reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.03). Melco PBL had a return on equity of 13.83% and a net margin of 6.47%. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.36 billion. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. analysts anticipate that Melco PBL Holdings will post 1.14 EPS for the current year.
Several analysts have recently issued reports on the stock. BidaskClub raised shares of Melco PBL from a “hold” rating to a “buy” rating in a research report on Tuesday, March 27th. Zacks Investment Research raised shares of Melco PBL from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Saturday, February 3rd. Goldman Sachs raised shares of Melco PBL from a “neutral” rating to a “buy” rating in a research report on Sunday, February 4th. CLSA assumed coverage on shares of Melco PBL in a research report on Monday, February 26th. They set an “outperform” rating on the stock. Finally, JPMorgan Chase raised shares of Melco PBL from a “neutral” rating to an “overweight” rating and set a $32.00 price target on the stock in a research report on Tuesday, December 19th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Melco PBL has an average rating of “Buy” and an average price target of $28.78.
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Melco PBL 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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