Raymond James Financial Services Advisors Inc. Buys 2,700 Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Raymond James Financial Services Advisors Inc. boosted its holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,620 shares of the company’s stock after buying an additional 2,700 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Melco Resorts & Entertainment were worth $1,034,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sunbelt Securities Inc. bought a new position in Melco Resorts & Entertainment in the 1st quarter valued at approximately $57,000. Penserra Capital Management LLC raised its holdings in Melco Resorts & Entertainment by 49.8% in the 4th quarter. Penserra Capital Management LLC now owns 5,754 shares of the company’s stock valued at $66,000 after buying an additional 1,914 shares during the last quarter. Commonwealth Equity Services LLC bought a new position in Melco Resorts & Entertainment in the 3rd quarter valued at approximately $70,000. FNY Investment Advisers LLC bought a new position in Melco Resorts & Entertainment in the 4th quarter valued at approximately $88,000. Finally, Centaurus Financial Inc. bought a new position in Melco Resorts & Entertainment in the 2nd quarter valued at approximately $104,000. Institutional investors own 39.62% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MLCO. StockNews.com upgraded shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a report on Friday, April 5th. Morgan Stanley reissued an “equal weight” rating and set a $9.60 target price on shares of Melco Resorts & Entertainment in a research report on Tuesday, January 2nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Melco Resorts & Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.78.

Melco Resorts & Entertainment Stock Performance

NASDAQ:MLCO opened at $6.95 on Monday. The company has a market capitalization of $3.09 billion, a PE ratio of -11.03 and a beta of 1.11. Melco Resorts & Entertainment Limited has a fifty-two week low of $6.61 and a fifty-two week high of $14.45. The company has a 50 day simple moving average of $7.76 and a two-hundred day simple moving average of $8.06.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.03 by $0.10. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.14 billion. The business’s quarterly revenue was up 224.4% compared to the same quarter last year. During the same period last year, the business earned ($0.51) EPS. Research analysts predict that Melco Resorts & Entertainment Limited will post 0.28 EPS for the current year.

Melco Resorts & Entertainment Company 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.