US Bancorp DE Buys 15,578 Shares of Melco Resorts & Entertainment Limited $MLCO

US Bancorp DE increased its stake in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 294.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 20,874 shares of the company’s stock after buying an additional 15,578 shares during the period. US Bancorp DE’s holdings in Melco Resorts & Entertainment were worth $110,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. ARGA Investment Management LP lifted its holdings in shares of Melco Resorts & Entertainment by 0.4% during the 1st quarter. ARGA Investment Management LP now owns 29,760,953 shares of the company’s stock worth $156,840,000 after acquiring an additional 108,529 shares during the period. Eminence Capital LP increased its position in shares of Melco Resorts & Entertainment by 22.1% during the fourth quarter. Eminence Capital LP now owns 7,735,919 shares of the company’s stock worth $44,791,000 after buying an additional 1,402,619 shares during the period. Nuveen Asset Management LLC increased its position in shares of Melco Resorts & Entertainment by 1.4% during the fourth quarter. Nuveen Asset Management LLC now owns 6,081,335 shares of the company’s stock worth $35,211,000 after buying an additional 83,268 shares during the period. BNP Paribas Financial Markets boosted its stake in Melco Resorts & Entertainment by 206.5% during the fourth quarter. BNP Paribas Financial Markets now owns 2,009,189 shares of the company’s stock worth $11,633,000 after acquiring an additional 1,353,617 shares in the last quarter. Finally, Man Group plc bought a new position in Melco Resorts & Entertainment during the fourth quarter worth $3,824,000. Institutional investors own 39.62% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MLCO shares. Citigroup lifted their price objective on shares of Melco Resorts & Entertainment from $11.00 to $11.50 and gave the company a “buy” rating in a report on Friday, August 1st. Bank of America lifted their target price on shares of Melco Resorts & Entertainment from $5.70 to $6.60 and gave the stock a “neutral” rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. upgraded shares of Melco Resorts & Entertainment from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $7.20 to $9.50 in a research report on Tuesday, July 1st. UBS Group downgraded 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 research note on Wednesday, April 30th. Finally, Susquehanna boosted their price objective on shares of Melco Resorts & Entertainment from $8.00 to $10.00 and gave the company a “positive” rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $8.15.

Melco Resorts & Entertainment Price Performance

Shares of Melco Resorts & Entertainment stock opened at $8.57 on Monday. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of 65.93 and a beta of 0.83. The firm’s 50-day moving average is $8.04 and its 200 day moving average is $6.44. Melco Resorts & Entertainment Limited has a 1 year low of $4.55 and a 1 year high of $9.16.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.09 by $0.14. Melco Resorts & Entertainment had a net margin of 1.15% and a negative return on equity of 18.47%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the firm earned $0.05 EPS. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, equities analysts expect that Melco Resorts & Entertainment Limited will post 0.16 EPS for the current fiscal year.

About Melco Resorts & Entertainment

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.