Hanson & Doremus Investment Management decreased its stake in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 16.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,166 shares of the company’s stock after selling 5,925 shares during the period. Hanson & Doremus Investment Management’s holdings in Melco Resorts & Entertainment were worth $729,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. Carroll Financial Associates Inc. bought a new position in shares of Melco Resorts & Entertainment in the fourth quarter valued at $36,000. Usca Ria LLC bought a new position in shares of Melco Resorts & Entertainment in the 3rd quarter valued at about $39,000. Tower Research Capital LLC TRC grew its position in shares of Melco Resorts & Entertainment by 2,725.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,882 shares of the company’s stock valued at $62,000 after acquiring an additional 2,780 shares during the period. Westwood Holdings Group Inc. acquired a new position in shares of Melco Resorts & Entertainment during the 2nd quarter worth about $165,000. Finally, Private Trust Co. NA increased its stake in shares of Melco Resorts & Entertainment by 11.3% during the 3rd quarter. Private Trust Co. NA now owns 10,651 shares of the company’s stock worth $206,000 after purchasing an additional 1,081 shares during the last quarter. 35.24% of the stock is owned by institutional investors.
Melco Resorts & Entertainment stock traded up $0.17 during trading hours on Thursday, hitting $23.98. The company had a trading volume of 70,261 shares, compared to its average volume of 1,291,542. The firm has a market cap of $11.85 billion, a PE ratio of 26.96, a PEG ratio of 0.96 and a beta of 1.88. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.89 and a quick ratio of 0.88. Melco Resorts & Entertainment Limited has a one year low of $18.68 and a one year high of $26.97. The firm has a 50-day moving average of $23.14 and a 200 day moving average of $21.91.
Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.03). Melco Resorts & Entertainment had a return on equity of 17.61% and a net margin of 7.60%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the business earned $0.05 earnings per share. The company’s revenue was up 16.4% on a year-over-year basis. As a group, research analysts expect that Melco Resorts & Entertainment Limited will post 1.14 earnings per share for the current year.
Several brokerages recently issued reports on MLCO. ValuEngine upgraded shares of Melco Resorts & Entertainment from a “strong sell” rating to a “sell” rating in a research note on Friday, December 20th. BidaskClub raised Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research report on Friday, December 13th. Finally, Zacks Investment Research lowered Melco Resorts & Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $24.49.
Melco Resorts & Entertainment 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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