Signaturefd LLC Trims Holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Signaturefd LLC lowered its holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCOGet Rating) by 16.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 11,115 shares of the company’s stock after selling 2,119 shares during the quarter. Signaturefd LLC’s holdings in Melco Resorts & Entertainment were worth $85,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MLCO. Parallel Advisors LLC boosted its holdings in Melco Resorts & Entertainment by 40.9% in the fourth quarter. Parallel Advisors LLC now owns 5,226 shares of the company’s stock valued at $53,000 after acquiring an additional 1,516 shares in the last quarter. ARGA Investment Management LP boosted its stake in shares of Melco Resorts & Entertainment by 2.2% during the 4th quarter. ARGA Investment Management LP now owns 17,240,002 shares of the company’s stock valued at $175,503,000 after purchasing an additional 373,638 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Melco Resorts & Entertainment by 116.2% during the fourth quarter. Quadrant Capital Group LLC now owns 8,201 shares of the company’s stock valued at $83,000 after buying an additional 4,407 shares during the period. Mount Yale Investment Advisors LLC raised its stake in Melco Resorts & Entertainment by 2.0% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 76,430 shares of the company’s stock worth $778,000 after buying an additional 1,465 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Melco Resorts & Entertainment by 4.7% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 22,937 shares of the company’s stock worth $225,000 after buying an additional 1,024 shares during the period. 46.30% of the stock is currently owned by institutional investors.

Melco Resorts & Entertainment Stock Up 0.7 %

Shares of NASDAQ:MLCO opened at $5.74 on Thursday. Melco Resorts & Entertainment Limited has a 12-month low of $4.06 and a 12-month high of $15.11. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of -3.57 and a beta of 1.64. The stock has a fifty day simple moving average of $5.54 and a two-hundred day simple moving average of $7.38. The company has a current ratio of 2.44, a quick ratio of 2.41 and a debt-to-equity ratio of 10.79.

Melco Resorts & Entertainment (NASDAQ:MLCOGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.02. The firm had revenue of $474.95 million during the quarter, compared to analyst estimates of $499.71 million. Melco Resorts & Entertainment had a negative return on equity of 71.99% and a negative net margin of 38.72%. On average, research analysts anticipate that Melco Resorts & Entertainment Limited will post -1.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. StockNews.com started coverage on Melco Resorts & Entertainment in a report on Thursday, March 31st. They set a “sell” rating on the stock. CICC Research downgraded Melco Resorts & Entertainment from an “outperform” rating to a “market perform” rating in a report on Monday, May 9th. Finally, Citigroup dropped their target price on shares of Melco Resorts & Entertainment from $12.50 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, July 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $12.73.

Melco Resorts & Entertainment Profile

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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.

Further Reading

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

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