Simplicity Solutions LLC Has $2.32 Million Holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Simplicity Solutions LLC lowered its position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 1.7% during the fourth quarter, Holdings Channel reports. The fund owned 262,028 shares of the company’s stock after selling 4,497 shares during the quarter. Simplicity Solutions LLC’s holdings in Melco Resorts & Entertainment were worth $2,324,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Sunbelt Securities Inc. purchased a new position in Melco Resorts & Entertainment during the first quarter valued at approximately $57,000. Penserra Capital Management LLC grew its position in Melco Resorts & Entertainment by 49.8% in the fourth quarter. Penserra Capital Management LLC now owns 5,754 shares of the company’s stock worth $66,000 after acquiring an additional 1,914 shares in the last quarter. Commonwealth Equity Services LLC bought a new stake in Melco Resorts & Entertainment in the third quarter worth approximately $70,000. FNY Investment Advisers LLC bought a new stake in Melco Resorts & Entertainment in the fourth quarter worth approximately $88,000. Finally, Centaurus Financial Inc. bought a new stake in Melco Resorts & Entertainment in the second quarter worth approximately $104,000. Institutional investors and hedge funds own 39.62% of the company’s stock.

Melco Resorts & Entertainment Stock Performance

Shares of Melco Resorts & Entertainment stock opened at $6.95 on Monday. The firm has a fifty day simple moving average of $7.76 and a 200-day simple moving average of $8.06. Melco Resorts & Entertainment Limited has a 1-year low of $6.61 and a 1-year high of $14.45.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the firm posted ($0.51) earnings per share. Melco Resorts & Entertainment’s quarterly revenue was up 224.4% compared to the same quarter last year. Equities research analysts anticipate that Melco Resorts & Entertainment Limited will post 0.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on MLCO. Morgan Stanley reissued an “equal weight” rating and issued a $9.60 target price on shares of Melco Resorts & Entertainment in a research report on Tuesday, January 2nd. StockNews.com raised shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research report on Friday, April 5th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.78.

Melco Resorts & Entertainment 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.