Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH lessened its holdings in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCOFree Report) by 15.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,079,572 shares of the company’s stock after selling 200,716 shares during the period. Allianz Asset Management GmbH owned 0.24% of Melco Resorts & Entertainment worth $9,576,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. increased its position in Melco Resorts & Entertainment by 7.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 252,738 shares of the company’s stock worth $2,242,000 after buying an additional 17,088 shares during the period. Quadrant Capital Group LLC grew its stake in shares of Melco Resorts & Entertainment by 15.4% in the 4th quarter. Quadrant Capital Group LLC now owns 10,368 shares of the company’s stock valued at $92,000 after purchasing an additional 1,386 shares during the last quarter. ARGA Investment Management LP grew its stake in shares of Melco Resorts & Entertainment by 0.8% in the 4th quarter. ARGA Investment Management LP now owns 27,640,786 shares of the company’s stock valued at $245,174,000 after purchasing an additional 217,725 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Melco Resorts & Entertainment in the 4th quarter valued at approximately $1,024,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of Melco Resorts & Entertainment in the 4th quarter valued at approximately $111,000. Institutional investors and hedge funds own 39.62% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on MLCO shares. StockNews.com upgraded Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research note on Friday, April 5th. Citigroup lifted their price target on Melco Resorts & Entertainment from $13.75 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Morgan Stanley upgraded Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $8.30 to $9.60 in a research note on Monday, May 6th. Bank of America upgraded Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and lifted their price target for the company from $7.50 to $10.40 in a research note on Wednesday, May 29th. Finally, Susquehanna decreased their price target on Melco Resorts & Entertainment from $15.00 to $11.00 and set a “positive” rating on the stock in a research note on Monday, April 29th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $13.25.

Read Our Latest Stock Report on Melco Resorts & Entertainment

Melco Resorts & Entertainment Stock Performance

MLCO opened at $8.16 on Tuesday. The business’s fifty day moving average is $7.40 and its two-hundred day moving average is $7.82. The company has a market cap of $3.63 billion, a price-to-earnings ratio of -19.43, a PEG ratio of 0.58 and a beta of 1.08. Melco Resorts & Entertainment Limited has a one year low of $6.10 and a one year high of $13.91.

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 analysts’ consensus estimates of $0.02 by $0.02. Melco Resorts & Entertainment had a negative return on equity of 7.61% and a negative net margin of 4.34%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the business earned ($0.14) earnings per share. Melco Resorts & Entertainment’s quarterly revenue was up 55.2% compared to the same quarter last year. On average, analysts predict that Melco Resorts & Entertainment Limited will post 0.28 EPS for the current fiscal year.

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.

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Institutional Ownership by Quarter for Melco Resorts & Entertainment (NASDAQ:MLCO)

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