Victory Capital Management Inc. Takes $15.27 Million Position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Victory Capital Management Inc. purchased a new stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO – Get Rating) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,327,444 shares of the company’s stock, valued at approximately $15,266,000. Victory Capital Management Inc. owned approximately 0.30% of Melco Resorts & Entertainment at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MLCO. Raymond James & Associates raised its position in shares of Melco Resorts & Entertainment by 87.1% in the first quarter. Raymond James & Associates now owns 42,281 shares of the company’s stock valued at $323,000 after buying an additional 19,681 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Melco Resorts & Entertainment by 62.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 67,129 shares of the company’s stock valued at $513,000 after buying an additional 25,852 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Melco Resorts & Entertainment by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 383,543 shares of the company’s stock valued at $2,931,000 after buying an additional 6,645 shares in the last quarter. Great West Life Assurance Co. Can raised its position in shares of Melco Resorts & Entertainment by 1.4% in the first quarter. Great West Life Assurance Co. Can now owns 174,880 shares of the company’s stock valued at $1,408,000 after buying an additional 2,344 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its position in shares of Melco Resorts & Entertainment by 34.9% in the first quarter. Vontobel Holding Ltd. now owns 72,302 shares of the company’s stock valued at $552,000 after buying an additional 18,696 shares in the last quarter. 39.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a research note on Friday.

Melco Resorts & Entertainment Price Performance

Shares of NASDAQ:MLCO opened at $11.41 on Tuesday. The company’s 50 day simple moving average is $12.49 and its 200 day simple moving average is $11.75. Melco Resorts & Entertainment Limited has a 1 year low of $4.61 and a 1 year high of $14.45.

Melco Resorts & Entertainment (NASDAQ:MLCO – Get Rating) last announced its quarterly earnings data on Wednesday, March 1st. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.09. The business had revenue of $337.09 million for the quarter, compared to analysts’ expectations of $406.81 million. Melco Resorts & Entertainment had a negative net margin of 52.06% and a negative return on equity of 559.31%. The firm’s quarterly revenue was down 29.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.32) earnings per share. Equities analysts anticipate that Melco Resorts & Entertainment Limited will post -0.18 EPS for the current year.

Melco Resorts & Entertainment Company 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.