Y Intercept Hong Kong Ltd Buys Shares of 13,587 Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Y Intercept Hong Kong Ltd bought a new stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCOGet Rating) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 13,587 shares of the company’s stock, valued at approximately $78,000.

Several other institutional investors have also recently bought and sold shares of MLCO. Commonwealth Equity Services LLC bought a new stake in shares of Melco Resorts & Entertainment during the 1st quarter worth approximately $78,000. Pinnacle Wealth Planning Services Inc. raised its stake in Melco Resorts & Entertainment by 59.0% in the 2nd quarter. Pinnacle Wealth Planning Services Inc. now owns 16,010 shares of the company’s stock valued at $92,000 after acquiring an additional 5,941 shares during the period. XTX Topco Ltd bought a new stake in Melco Resorts & Entertainment in the 1st quarter valued at $110,000. Freestone Capital Holdings LLC bought a new stake in Melco Resorts & Entertainment in the 1st quarter valued at $116,000. Finally, Toroso Investments LLC raised its stake in Melco Resorts & Entertainment by 30.1% in the 1st quarter. Toroso Investments LLC now owns 17,040 shares of the company’s stock valued at $130,000 after acquiring an additional 3,942 shares during the period. Institutional investors own 35.87% of the company’s stock.

Analyst Upgrades and Downgrades

MLCO has been the topic of a number of research analyst reports. StockNews.com upgraded Melco Resorts & Entertainment to a “sell” rating in a research note on Thursday, October 27th. Citigroup increased their price target on Melco Resorts & Entertainment from $11.00 to $11.50 and gave the company a “buy” rating in a research note on Monday, September 26th. Finally, Credit Suisse Group lowered Melco Resorts & Entertainment from an “outperform” rating to a “neutral” rating in a report on Monday, October 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Melco Resorts & Entertainment has an average rating of “Hold” and an average price target of $12.25.

Melco Resorts & Entertainment Stock Performance

Shares of NASDAQ MLCO opened at $7.38 on Monday. The company has a debt-to-equity ratio of 21.09, a current ratio of 2.34 and a quick ratio of 2.31. The stock’s fifty day moving average price is $6.13 and its two-hundred day moving average price is $5.69. Melco Resorts & Entertainment Limited has a one year low of $4.06 and a one year high of $12.40. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of -4.12 and a beta of 1.14.

Melco Resorts & Entertainment (NASDAQ:MLCOGet Rating) last released its earnings results on Thursday, August 18th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.01. The company had revenue of $296.11 million for the quarter, compared to analyst estimates of $383.51 million. Melco Resorts & Entertainment had a negative return on equity of 182.94% and a negative net margin of 56.15%. On average, equities analysts forecast that Melco Resorts & Entertainment Limited will post -1.99 EPS for the current year.

Melco Resorts & Entertainment Company Profile

(Get Rating)

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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