Mackenzie Financial Corp Sells 120,062 Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Mackenzie Financial Corp lessened its stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 82.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 25,453 shares of the company’s stock after selling 120,062 shares during the quarter. Mackenzie Financial Corp’s holdings in Melco Resorts & Entertainment were worth $226,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Matthews International Capital Management LLC boosted its stake in Melco Resorts & Entertainment by 247.0% in the 3rd quarter. Matthews International Capital Management LLC now owns 1,194,039 shares of the company’s stock worth $11,809,000 after purchasing an additional 849,949 shares during the period. Qube Research & Technologies Ltd boosted its position in shares of Melco Resorts & Entertainment by 77.1% during the third quarter. Qube Research & Technologies Ltd now owns 411,430 shares of the company’s stock worth $4,069,000 after buying an additional 179,070 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Melco Resorts & Entertainment by 2.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 116,620 shares of the company’s stock worth $1,034,000 after buying an additional 2,700 shares during the period. Barclays PLC grew its holdings in shares of Melco Resorts & Entertainment by 107.7% during the third quarter. Barclays PLC now owns 1,914,993 shares of the company’s stock worth $18,940,000 after buying an additional 992,813 shares in the last quarter. Finally, DAVENPORT & Co LLC raised its position in Melco Resorts & Entertainment by 6.5% in the 4th quarter. DAVENPORT & Co LLC now owns 94,002 shares of the company’s stock valued at $834,000 after buying an additional 5,750 shares during the last quarter. Institutional investors own 39.62% of the company’s stock.

Melco Resorts & Entertainment Stock Up 0.5 %

NASDAQ:MLCO opened at $6.34 on Monday. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of -10.06 and a beta of 1.11. Melco Resorts & Entertainment Limited has a twelve month low of $6.10 and a twelve month high of $14.00. The stock’s 50 day moving average price is $7.27 and its two-hundred day moving average price is $7.86.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly earnings results on Thursday, February 29th. The company reported $0.13 EPS for the quarter, beating 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. The business’s revenue was up 224.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.51) EPS. As a group, analysts anticipate that Melco Resorts & Entertainment Limited will post 0.28 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on MLCO shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $9.60 price target on shares of Melco Resorts & Entertainment in a research report on Tuesday, January 2nd. StockNews.com upgraded shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a report on Friday, April 5th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to 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.