Federated Investors Inc. PA Acquires 30,000 Shares of Melco Resorts & Entertainment Limited (MLCO)

Federated Investors Inc. PA grew its holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 42.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 100,000 shares of the company’s stock after acquiring an additional 30,000 shares during the period. Federated Investors Inc. PA’s holdings in Melco Resorts & Entertainment were worth $2,800,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC raised its position in shares of Melco Resorts & Entertainment by 1,935.3% during the 2nd quarter. SG Americas Securities LLC now owns 431,244 shares of the company’s stock valued at $12,075,000 after purchasing an additional 410,056 shares during the period. Engineers Gate Manager LP bought a new stake in shares of Melco Resorts & Entertainment during the 2nd quarter valued at $386,000. Boston Partners bought a new stake in shares of Melco Resorts & Entertainment during the 2nd quarter valued at $1,660,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Melco Resorts & Entertainment by 1.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 795,558 shares of the company’s stock valued at $22,276,000 after purchasing an additional 8,085 shares during the period. Finally, USA Mutuals Advisors Inc. bought a new stake in shares of Melco Resorts & Entertainment during the 2nd quarter valued at $7,445,000. Institutional investors and hedge funds own 40.50% of the company’s stock.

Several analysts have recently commented on MLCO shares. Zacks Investment Research downgraded shares of Melco Resorts & Entertainment from a “hold” rating to a “strong sell” rating in a research report on Sunday, July 15th. BidaskClub upgraded shares of Melco Resorts & Entertainment from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 22nd. Bank of America restated a “buy” rating and set a $35.10 price objective (up from $34.40) on shares of Melco Resorts & Entertainment in a research report on Tuesday, July 24th. Nomura decreased their price objective on shares of Melco Resorts & Entertainment from $42.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, July 9th. Finally, ValuEngine upgraded shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. Melco Resorts & Entertainment currently has a consensus rating of “Buy” and an average price target of $33.16.



MLCO opened at $20.84 on Friday. The firm has a market cap of $9.91 billion, a P/E ratio of 22.65, a P/E/G ratio of 1.45 and a beta of 1.53. Melco Resorts & Entertainment Limited has a fifty-two week low of $19.10 and a fifty-two week high of $32.95. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.04 and a quick ratio of 1.02.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its earnings results on Tuesday, July 24th. The company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.05). The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Melco Resorts & Entertainment had a net margin of 7.83% and a return on equity of 15.47%. The business’s revenue was down 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.07 earnings per share. research analysts predict that Melco Resorts & Entertainment Limited will post 1.15 EPS for the current year.

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.

Recommended Story: NASDAQ

Want to see what other hedge funds are holding MLCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Melco Resorts & Entertainment Limited (NASDAQ:MLCO).

Institutional Ownership by Quarter for Melco Resorts & Entertainment (NASDAQ:MLCO)

Receive News & Ratings for Melco Resorts & Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Melco Resorts & Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply