Aperture Investors LLC Acquires 104,672 Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO)


Aperture Investors LLC boosted its holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 55.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 294,516 shares of the company’s stock after acquiring an additional 104,672 shares during the quarter. Aperture Investors LLC owned 0.06% of Melco Resorts & Entertainment worth $5,463,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Hardman Johnston Global Advisors LLC raised its stake in Melco Resorts & Entertainment by 30.5% during the 4th quarter. Hardman Johnston Global Advisors LLC now owns 18,327,048 shares of the company’s stock valued at $339,966,000 after buying an additional 4,278,219 shares during the last quarter. BlackRock Inc. increased its stake in shares of Melco Resorts & Entertainment by 12.4% in the 4th quarter. BlackRock Inc. now owns 11,628,891 shares of the company’s stock worth $215,713,000 after purchasing an additional 1,287,148 shares in the last quarter. Coronation Fund Managers Ltd. increased its stake in shares of Melco Resorts & Entertainment by 18.9% in the 4th quarter. Coronation Fund Managers Ltd. now owns 6,299,645 shares of the company’s stock worth $116,858,000 after purchasing an additional 1,001,046 shares in the last quarter. Nuveen Asset Management LLC increased its stake in shares of Melco Resorts & Entertainment by 63.0% in the 3rd quarter. Nuveen Asset Management LLC now owns 5,573,279 shares of the company’s stock worth $92,795,000 after purchasing an additional 2,154,014 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Melco Resorts & Entertainment by 17.3% in the 3rd quarter. State Street Corp now owns 5,036,627 shares of the company’s stock worth $83,860,000 after purchasing an additional 743,771 shares in the last quarter. 41.69% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ MLCO traded up $0.26 during trading on Thursday, hitting $21.64. The stock had a trading volume of 51,055 shares, compared to its average volume of 2,804,347. The company has a debt-to-equity ratio of 2.75, a quick ratio of 1.66 and a current ratio of 1.69. The stock has a market capitalization of $10.32 billion, a price-to-earnings ratio of -10.23, a P/E/G ratio of 135.39 and a beta of 1.76. Melco Resorts & Entertainment Limited has a one year low of $10.81 and a one year high of $23.65. The stock has a 50 day simple moving average of $18.51 and a 200 day simple moving average of $17.91.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly earnings data on Thursday, February 25th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.60) by $0.20. Melco Resorts & Entertainment had a negative net margin of 37.56% and a negative return on equity of 45.84%. The business had revenue of $528.00 million during the quarter, compared to the consensus estimate of $526.82 million. On average, sell-side analysts predict that Melco Resorts & Entertainment Limited will post -2.7 EPS for the current year.

Several equities research analysts have recently commented on MLCO shares. Zacks Investment Research lowered Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a research note on Tuesday, January 5th. JPMorgan Chase & Co. upped their price target on shares of Melco Resorts & Entertainment from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Tuesday, November 17th. TheStreet upgraded shares of Melco Resorts & Entertainment from a “d” rating to a “c-” rating in a report on Monday. Credit Suisse Group lowered Melco Resorts & Entertainment from a “neutral” rating to an “underperform” rating and set a $14.00 price target for the company. in a research report on Tuesday, January 19th. Finally, Macquarie lowered Melco Resorts & Entertainment from an “outperform” rating to a “neutral” rating and set a $20.00 price target for the company. in a research report on Thursday, January 7th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $21.23.

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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