The Manufacturers Life Insurance Company Buys 3,873 Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

The Manufacturers Life Insurance Company raised its holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 8.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 50,215 shares of the company’s stock after acquiring an additional 3,873 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Melco Resorts & Entertainment were worth $291,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MLCO. Patriot Financial Group Insurance Agency LLC acquired a new stake in Melco Resorts & Entertainment in the fourth quarter worth $58,000. Empirical Asset Management LLC acquired a new stake in Melco Resorts & Entertainment in the 4th quarter worth about $73,000. Wealthspire Advisors LLC acquired a new stake in Melco Resorts & Entertainment in the 4th quarter worth about $145,000. Tower Research Capital LLC TRC raised its position in shares of Melco Resorts & Entertainment by 546.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 26,460 shares of the company’s stock valued at $153,000 after buying an additional 22,370 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Melco Resorts & Entertainment in the 4th quarter valued at approximately $167,000. 39.62% of the stock is owned by institutional investors.

Melco Resorts & Entertainment Price Performance

Shares of Melco Resorts & Entertainment stock opened at $6.44 on Monday. Melco Resorts & Entertainment Limited has a 1 year low of $4.55 and a 1 year high of $8.90. The firm has a market cap of $2.74 billion, a PE ratio of -29.27, a PEG ratio of 0.63 and a beta of 0.71. The company has a 50 day simple moving average of $5.33 and a two-hundred day simple moving average of $5.76.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.13. Melco Resorts & Entertainment had a negative net margin of 2.04% and a negative return on equity of 16.35%. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period last year, the firm posted $0.04 earnings per share. The business’s revenue was up 10.8% compared to the same quarter last year. As a group, research analysts anticipate that Melco Resorts & Entertainment Limited will post 0.16 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MLCO shares. UBS Group lowered shares of Melco Resorts & Entertainment from a “buy” rating to a “sell” rating and set a $4.60 target price on the stock. in a report on Wednesday, April 30th. Citigroup raised shares of Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and set a $6.25 price objective on the stock in a research note on Thursday, April 10th. Susquehanna lowered their target price on shares of Melco Resorts & Entertainment from $10.00 to $9.00 and set a “positive” rating for the company in a report on Monday, February 3rd. Finally, Morgan Stanley upgraded shares of Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $7.50 to $6.70 in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.84.

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.