Zurcher Kantonalbank Zurich Cantonalbank Grows Position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 17.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,949 shares of the company’s stock after buying an additional 8,501 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Melco Resorts & Entertainment were worth $948,000 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. Hardman Johnston Global Advisors LLC increased its position in shares of Melco Resorts & Entertainment by 36.6% during the second quarter. Hardman Johnston Global Advisors LLC now owns 14,055,486 shares of the company’s stock valued at $218,141,000 after acquiring an additional 3,764,547 shares during the last quarter. River & Mercantile Asset Management LLP purchased a new position in shares of Melco Resorts & Entertainment during the 2nd quarter worth approximately $1,051,000. Broad Peak Investment Holdings Ltd. increased its holdings in Melco Resorts & Entertainment by 21.5% in the 3rd quarter. Broad Peak Investment Holdings Ltd. now owns 6,223,733 shares of the company’s stock valued at $103,625,000 after purchasing an additional 1,099,619 shares during the last quarter. Coronation Fund Managers Ltd. raised its position in Melco Resorts & Entertainment by 8.7% in the second quarter. Coronation Fund Managers Ltd. now owns 5,688,416 shares of the company’s stock valued at $88,284,000 after purchasing an additional 457,316 shares during the period. Finally, Nuveen Asset Management LLC lifted its stake in Melco Resorts & Entertainment by 200.0% during the second quarter. Nuveen Asset Management LLC now owns 3,419,265 shares of the company’s stock worth $53,067,000 after purchasing an additional 2,279,694 shares in the last quarter. 40.23% of the stock is currently owned by institutional investors.

NASDAQ:MLCO opened at $18.78 on Friday. Melco Resorts & Entertainment Limited has a 12 month low of $10.81 and a 12 month high of $25.22. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.05 and a quick ratio of 1.01. The firm has a market capitalization of $8.64 billion, a PE ratio of -8.99 and a beta of 1.81. The business’s fifty day moving average price is $16.36 and its 200 day moving average price is $16.96.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its quarterly earnings data on Thursday, November 5th. The company reported ($0.66) EPS for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.25. The business had revenue of $212.90 million for the quarter, compared to the consensus estimate of $299.78 million. Melco Resorts & Entertainment had a negative return on equity of 21.63% and a negative net margin of 14.98%. As a group, equities analysts anticipate that Melco Resorts & Entertainment Limited will post -2.67 EPS for the current year.

Several research firms recently issued reports on MLCO. BidaskClub raised Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, October 31st. TheStreet lowered shares of Melco Resorts & Entertainment from a “c” rating to a “d+” rating in a research note on Tuesday, September 8th. BOCOM International assumed coverage on shares of Melco Resorts & Entertainment in a research note on Friday, September 11th. They set a “buy” rating on the stock. Bank of America reiterated a “buy” rating and set a $20.00 target price on shares of Melco Resorts & Entertainment in a report on Friday, August 7th. Finally, ValuEngine upgraded shares of Melco Resorts & Entertainment from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $22.69.

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

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