Mckinley Capital Management LLC Delaware Lowers Stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Mckinley Capital Management LLC Delaware lowered its stake in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 9.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,058 shares of the company’s stock after selling 4,440 shares during the quarter. Mckinley Capital Management LLC Delaware’s holdings in Melco Resorts & Entertainment were worth $936,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MLCO. Matthews International Capital Management LLC raised its position in shares of Melco Resorts & Entertainment by 2,521.3% during the 2nd quarter. Matthews International Capital Management LLC now owns 3,520,700 shares of the company’s stock valued at $76,470,000 after buying an additional 3,386,387 shares in the last quarter. Broad Peak Investment Management LTD. raised its position in Melco Resorts & Entertainment by 48.1% in the 2nd quarter. Broad Peak Investment Management LTD. now owns 3,978,814 shares of the company’s stock worth $86,420,000 after purchasing an additional 1,292,958 shares during the period. Perpetual Ltd raised its position in Melco Resorts & Entertainment by 71.2% in the 2nd quarter. Perpetual Ltd now owns 1,190,488 shares of the company’s stock worth $25,857,000 after purchasing an additional 495,291 shares during the period. Coronation Fund Managers Ltd. raised its position in Melco Resorts & Entertainment by 11.9% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 3,884,374 shares of the company’s stock worth $84,369,000 after purchasing an additional 413,469 shares during the period. Finally, Hardman Johnston Global Advisors LLC raised its position in Melco Resorts & Entertainment by 3.6% in the 1st quarter. Hardman Johnston Global Advisors LLC now owns 11,143,247 shares of the company’s stock worth $251,726,000 after purchasing an additional 383,562 shares during the period. Hedge funds and other institutional investors own 33.12% of the company’s stock.

A number of equities analysts recently commented on MLCO shares. Goldman Sachs Group set a $27.00 target price on shares of Melco Resorts & Entertainment and gave the stock a “buy” rating in a research report on Tuesday, May 28th. ValuEngine cut shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research report on Saturday, July 27th. Zacks Investment Research cut shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. BidaskClub cut shares of Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th. Finally, Wolfe Research cut shares of Melco Resorts & Entertainment from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. Melco Resorts & Entertainment has a consensus rating of “Buy” and a consensus target price of $25.79.

Shares of MLCO stock traded down $0.74 during mid-day trading on Friday, reaching $19.67. The stock had a trading volume of 1,438,729 shares, compared to its average volume of 2,295,012. The stock’s 50-day moving average price is $22.30 and its two-hundred day moving average price is $22.53. Melco Resorts & Entertainment Limited has a 52-week low of $15.33 and a 52-week high of $26.97. The firm has a market capitalization of $10.09 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 0.83 and a beta of 1.76. The company has a current ratio of 0.82, a quick ratio of 0.80 and a debt-to-equity ratio of 1.47.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.24 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the company earned $0.12 earnings per share. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, equities research analysts forecast that Melco Resorts & Entertainment Limited will post 1.11 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were given a $0.1651 dividend. This is a boost from Melco Resorts & Entertainment’s previous quarterly dividend of $0.02. The ex-dividend date was Friday, August 2nd. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.36%. Melco Resorts & Entertainment’s payout ratio is presently 73.03%.

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.

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

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