Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Shares Acquired by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. boosted its stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 11.9% in the second quarter, HoldingsChannel reports. The firm owned 3,884,374 shares of the company’s stock after buying an additional 413,469 shares during the period. Melco Resorts & Entertainment makes up about 3.1% of Coronation Fund Managers Ltd.’s portfolio, making the stock its 10th largest position. Coronation Fund Managers Ltd.’s holdings in Melco Resorts & Entertainment were worth $84,369,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Maso Capital Partners Ltd bought a new position in shares of Melco Resorts & Entertainment in the first quarter valued at $2,711,000. MetLife Investment Advisors LLC lifted its position in shares of Melco Resorts & Entertainment by 18.7% during the first quarter. MetLife Investment Advisors LLC now owns 23,500 shares of the company’s stock valued at $531,000 after purchasing an additional 3,700 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its position in shares of Melco Resorts & Entertainment by 7.4% during the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 174,000 shares of the company’s stock valued at $3,831,000 after purchasing an additional 12,000 shares in the last quarter. Todd Asset Management LLC lifted its position in shares of Melco Resorts & Entertainment by 2.7% during the first quarter. Todd Asset Management LLC now owns 850,683 shares of the company’s stock valued at $19,216,000 after purchasing an additional 22,671 shares in the last quarter. Finally, NumerixS Investment Technologies Inc bought a new position in shares of Melco Resorts & Entertainment during the first quarter valued at about $806,000. Institutional investors and hedge funds own 33.41% of the company’s stock.

NASDAQ MLCO traded down $0.81 during trading hours on Monday, reaching $20.14. 46,108 shares of the company were exchanged, compared to its average volume of 1,743,449. Melco Resorts & Entertainment Limited has a 1 year low of $15.33 and a 1 year high of $26.97. The firm has a 50 day simple moving average of $22.90. The company has a quick ratio of 0.80, a current ratio of 0.82 and a debt-to-equity ratio of 1.47. The company has a market cap of $10.36 billion, a PE ratio of 23.54, a P/E/G ratio of 0.92 and a beta of 1.76.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. Melco Resorts & Entertainment had a net margin of 6.55% and a return on equity of 14.53%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the company posted $0.12 earnings per share. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. As a group, equities analysts predict that Melco Resorts & Entertainment Limited will post 1.03 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, August 5th will be issued a dividend of $0.1651 per share. This represents a $0.66 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Friday, August 2nd. This is an increase from Melco Resorts & Entertainment’s previous quarterly dividend of $0.02. Melco Resorts & Entertainment’s dividend payout ratio (DPR) is 68.54%.

MLCO has been the topic of a number of recent analyst reports. Macquarie initiated coverage on shares of Melco Resorts & Entertainment in a research report on Monday, April 8th. They set an “outperform” rating and a $25.10 price target on the stock. Zacks Investment Research raised shares of Melco Resorts & Entertainment from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Thursday, July 25th. Wolfe Research lowered shares of Melco Resorts & Entertainment from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, May 8th. Nomura raised their price target on shares of Melco Resorts & Entertainment from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Finally, BidaskClub lowered shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Melco Resorts & Entertainment currently has an average rating of “Buy” and a consensus price target of $27.46.

About Melco Resorts & Entertainment

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.

Read More: Hedge Funds

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

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