ARGA Investment Management LP Has $231.04 Million Stock Holdings in Melco Resorts & Entertainment Limited $MLCO

ARGA Investment Management LP cut its stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 15.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,194,785 shares of the company’s stock after selling 4,618,813 shares during the quarter. Melco Resorts & Entertainment comprises about 6.1% of ARGA Investment Management LP’s holdings, making the stock its 6th largest position. ARGA Investment Management LP owned 6.00% of Melco Resorts & Entertainment worth $231,036,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in MLCO. FNY Investment Advisers LLC bought a new stake in shares of Melco Resorts & Entertainment during the second quarter valued at about $38,000. Solstein Capital LLC grew its stake in Melco Resorts & Entertainment by 74.9% during the second quarter. Solstein Capital LLC now owns 9,340 shares of the company’s stock valued at $68,000 after acquiring an additional 4,000 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in Melco Resorts & Entertainment during the 2nd quarter worth approximately $71,000. Campbell & CO Investment Adviser LLC purchased a new stake in Melco Resorts & Entertainment in the 2nd quarter worth approximately $75,000. Finally, Global Retirement Partners LLC raised its position in shares of Melco Resorts & Entertainment by 6,805.6% in the third quarter. Global Retirement Partners LLC now owns 8,632 shares of the company’s stock worth $79,000 after buying an additional 8,507 shares in the last quarter. Institutional investors own 39.62% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Zacks Research cut Melco Resorts & Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 16th. Wall Street Zen downgraded shares of Melco Resorts & Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 27th. JPMorgan Chase & Co. restated a “neutral” rating and set a $7.70 price target (down from $11.00) on shares of Melco Resorts & Entertainment in a research report on Friday, January 16th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Melco Resorts & Entertainment in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.85.

Melco Resorts & Entertainment Stock Performance

NASDAQ:MLCO opened at $6.35 on Friday. The firm has a 50-day simple moving average of $7.86 and a two-hundred day simple moving average of $8.55. Melco Resorts & Entertainment Limited has a fifty-two week low of $4.55 and a fifty-two week high of $10.15. The firm has a market cap of $2.67 billion, a P/E ratio of 24.42 and a beta of 0.66.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.11 by $0.10. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Melco Resorts & Entertainment had a negative return on equity of 23.00% and a net margin of 2.06%.Melco Resorts & Entertainment’s revenue was up 11.5% compared to the same quarter last year. During the same period last year, the firm posted $0.06 earnings per share. On average, equities research analysts predict that Melco Resorts & Entertainment Limited will post 0.16 EPS for the current year.

Melco Resorts & Entertainment Profile

Melco Resorts & Entertainment Limited (NASDAQ: MLCO) is a developer, owner and operator of integrated resort destinations in Asia and Europe. The company’s portfolio spans casino gaming, hotel accommodations, retail, dining and entertainment facilities. Melco’s properties feature a mix of luxury hotels, award-winning restaurants, high-limit gaming salons and entertainment venues, catering to a broad range of leisure and business travelers.

In Macau, Melco owns and operates flagship properties including City of Dreams Macau, Altira Macau and Studio City.