SG Americas Securities LLC Grows Stock Holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

SG Americas Securities LLC raised its holdings in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 37.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 208,883 shares of the company’s stock after purchasing an additional 56,485 shares during the quarter. SG Americas Securities LLC’s holdings in Melco Resorts & Entertainment were worth $1,101,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. GAMMA Investing LLC lifted its holdings in shares of Melco Resorts & Entertainment by 88.1% in the 1st quarter. GAMMA Investing LLC now owns 14,171 shares of the company’s stock valued at $75,000 after acquiring an additional 6,638 shares during the last quarter. Vident Advisory LLC purchased a new stake in Melco Resorts & Entertainment during the fourth quarter valued at approximately $142,000. Wealthspire Advisors LLC purchased a new stake in Melco Resorts & Entertainment during the fourth quarter valued at approximately $145,000. Cantor Fitzgerald L. P. bought a new stake in shares of Melco Resorts & Entertainment in the 4th quarter valued at approximately $145,000. Finally, Tower Research Capital LLC TRC lifted its stake 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 purchasing an additional 22,370 shares during the last quarter. 39.62% of the stock is owned by hedge funds and other institutional investors.

Melco Resorts & Entertainment Trading Down 2.8%

NASDAQ:MLCO opened at $6.28 on Wednesday. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 44.86, a price-to-earnings-growth ratio of 0.66 and a beta of 0.79. Melco Resorts & Entertainment Limited has a twelve month low of $4.55 and a twelve month high of $8.90. The stock has a fifty day simple moving average of $5.73 and a 200-day simple moving average of $5.74.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.13. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.21 billion. Melco Resorts & Entertainment had a net margin of 1.28% and a negative return on equity of 12.58%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the business posted $0.04 EPS. As a group, equities research analysts predict that Melco Resorts & Entertainment Limited will post 0.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MLCO has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their target price on Melco Resorts & Entertainment from $6.50 to $7.20 and gave the company a “neutral” rating in a research report on Monday, June 2nd. Citigroup upgraded 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 report on Thursday, April 10th. Bank of America increased their target price on shares of Melco Resorts & Entertainment from $5.70 to $6.60 and gave the company a “neutral” rating in a research note on Tuesday, May 20th. Morgan Stanley raised shares of Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $7.50 to $6.70 in a research note on Monday, March 3rd. Finally, UBS Group downgraded shares of Melco Resorts & Entertainment from a “buy” rating to a “sell” rating and set a $4.60 price target on the stock. in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Melco Resorts & Entertainment presently has an average rating of “Hold” and an average target price of $6.73.

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.