Cetera Investment Advisers Sells 8,226 Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Cetera Investment Advisers lessened its holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 4.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 186,182 shares of the company’s stock after selling 8,226 shares during the quarter. Cetera Investment Advisers’ holdings in Melco Resorts & Entertainment were worth $1,078,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Melco Resorts & Entertainment by 8.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 50,215 shares of the company’s stock worth $291,000 after buying an additional 3,873 shares during the period. Samalin Investment Counsel LLC boosted its position in Melco Resorts & Entertainment by 11.6% during the fourth quarter. Samalin Investment Counsel LLC now owns 96,273 shares of the company’s stock valued at $557,000 after purchasing an additional 10,000 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in Melco Resorts & Entertainment during the fourth quarter valued at about $58,000. Mariner LLC boosted its position in Melco Resorts & Entertainment by 12.3% during the fourth quarter. Mariner LLC now owns 95,939 shares of the company’s stock valued at $555,000 after purchasing an additional 10,491 shares in the last quarter. Finally, Mcdonald Partners LLC boosted its position in Melco Resorts & Entertainment by 19.4% during the fourth quarter. Mcdonald Partners LLC now owns 92,360 shares of the company’s stock valued at $535,000 after purchasing an additional 15,021 shares in the last quarter. Institutional investors own 39.62% of the company’s stock.

Melco Resorts & Entertainment Stock Performance

Melco Resorts & Entertainment stock opened at $6.16 on Friday. The stock has a 50-day moving average of $5.39 and a two-hundred day moving average of $5.76. Melco Resorts & Entertainment Limited has a one year low of $4.55 and a one year high of $8.90. The stock has a market cap of $2.62 billion, a PE ratio of -28.00, a price-to-earnings-growth ratio of 0.63 and a beta of 0.71.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MLCO. Susquehanna dropped their price objective on Melco Resorts & Entertainment from $10.00 to $9.00 and set a “positive” rating on the stock in a research report on Monday, February 3rd. Citigroup raised Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and set a $6.25 price objective on the stock in a research report on Thursday, April 10th. Morgan Stanley raised Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $7.50 to $6.70 in a research report on Monday, March 3rd. Bank of America raised their price objective on Melco Resorts & Entertainment from $5.70 to $6.60 and gave the company a “neutral” rating in a research report on Tuesday. Finally, UBS Group downgraded Melco Resorts & Entertainment from a “buy” rating to a “sell” rating and set a $4.60 price objective on the stock. in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Melco Resorts & Entertainment currently has a consensus rating of “Hold” and a consensus target price of $6.69.

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.