Hsbc Holdings PLC Has $7.03 Million Position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Hsbc Holdings PLC reduced its holdings in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCOFree Report) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 790,698 shares of the company’s stock after selling 7,610 shares during the period. Hsbc Holdings PLC owned 0.18% of Melco Resorts & Entertainment worth $7,029,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC acquired a new stake in Melco Resorts & Entertainment during the 4th quarter worth about $37,000. FNY Investment Advisers LLC bought a new position in shares of Melco Resorts & Entertainment during the 4th quarter worth about $88,000. Greenleaf Trust bought a new position in shares of Melco Resorts & Entertainment during the 4th quarter worth about $92,000. Quadrant Capital Group LLC boosted its position in shares of Melco Resorts & Entertainment by 15.4% during the 4th quarter. Quadrant Capital Group LLC now owns 10,368 shares of the company’s stock worth $92,000 after purchasing an additional 1,386 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Melco Resorts & Entertainment during the 4th quarter worth about $111,000. 39.62% of the stock is currently owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Stock Up 4.1 %

Shares of NASDAQ MLCO opened at $8.16 on Tuesday. Melco Resorts & Entertainment Limited has a fifty-two week low of $6.10 and a fifty-two week high of $13.91. The firm’s 50-day simple moving average is $7.40 and its 200 day simple moving average is $7.82.

Melco Resorts & Entertainment (NASDAQ:MLCOGet Free Report) last posted its earnings results on Tuesday, April 30th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.02 by $0.02. Melco Resorts & Entertainment had a negative net margin of 4.34% and a negative return on equity of 7.61%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the firm earned ($0.14) EPS. The company’s quarterly revenue was up 55.2% compared to the same quarter last year. Sell-side analysts forecast that Melco Resorts & Entertainment Limited will post 0.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MLCO has been the topic of a number of research analyst reports. Morgan Stanley raised shares of Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $8.30 to $9.60 in a research report on Monday, May 6th. Citigroup increased their price objective on shares of Melco Resorts & Entertainment from $13.75 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Bank of America raised shares of Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and raised their price target for the company from $7.50 to $10.40 in a research report on Wednesday, May 29th. Susquehanna dropped their price target on shares of Melco Resorts & Entertainment from $15.00 to $11.00 and set a “positive” rating on the stock in a research report on Monday, April 29th. Finally, StockNews.com raised shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research report on Friday, April 5th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $13.25.

Check Out Our Latest Analysis on Melco Resorts & Entertainment

Melco Resorts & Entertainment Profile

(Free Report)

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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