AMP Capital Investors Ltd Sells 5,136 Shares of Melco Resorts & Entertainment Limited (MLCO)

AMP Capital Investors Ltd cut its holdings in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 3.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 158,922 shares of the company’s stock after selling 5,136 shares during the period. AMP Capital Investors Ltd’s holdings in Melco Resorts & Entertainment were worth $4,450,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MLCO. BlackRock Inc. boosted its stake in Melco Resorts & Entertainment by 9.1% in the second quarter. BlackRock Inc. now owns 24,200,196 shares of the company’s stock valued at $677,605,000 after acquiring an additional 2,013,914 shares in the last quarter. Hardman Johnston Global Advisors LLC boosted its stake in Melco Resorts & Entertainment by 3.6% in the second quarter. Hardman Johnston Global Advisors LLC now owns 8,880,877 shares of the company’s stock valued at $248,665,000 after acquiring an additional 310,573 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Melco Resorts & Entertainment by 86.4% in the second quarter. Renaissance Technologies LLC now owns 2,312,600 shares of the company’s stock valued at $64,753,000 after acquiring an additional 1,071,800 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Melco Resorts & Entertainment by 6.1% in the second quarter. Janus Henderson Group PLC now owns 1,948,978 shares of the company’s stock valued at $54,571,000 after acquiring an additional 111,200 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Melco Resorts & Entertainment by 8.9% in the first quarter. Northern Trust Corp now owns 1,799,384 shares of the company’s stock valued at $52,147,000 after acquiring an additional 147,473 shares in the last quarter. Hedge funds and other institutional investors own 40.50% of the company’s stock.

Several equities research analysts have weighed in on MLCO shares. Bank of America restated a “buy” rating and issued a $35.10 target price (up from $34.40) on shares of Melco Resorts & Entertainment in a research note on Tuesday, July 24th. BidaskClub upgraded shares of Melco Resorts & Entertainment from a “hold” rating to a “buy” rating in a research note on Thursday, May 24th. Nomura lowered their target price on shares of Melco Resorts & Entertainment from $42.00 to $32.00 and set a “buy” rating for the company in a research note on Monday, July 9th. Zacks Investment Research upgraded shares of Melco Resorts & Entertainment from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 26th. Finally, ValuEngine upgraded shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $33.16.

NASDAQ MLCO opened at $20.84 on Monday. The firm has a market capitalization of $9.91 billion, a price-to-earnings ratio of 19.09, a P/E/G ratio of 1.45 and a beta of 1.53. Melco Resorts & Entertainment Limited has a 12-month low of $19.10 and a 12-month high of $32.95. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.04 and a quick ratio of 1.02.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its quarterly earnings results on Tuesday, July 24th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.05). The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Melco Resorts & Entertainment had a return on equity of 15.47% and a net margin of 7.83%. The company’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 EPS. equities analysts anticipate that Melco Resorts & Entertainment Limited will post 1.15 earnings per share for the current year.

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.

Further Reading: Index Funds

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

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