Renaissance Technologies LLC Raises Position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Renaissance Technologies LLC lifted its stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 238.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,707,500 shares of the company’s stock after buying an additional 1,203,100 shares during the period. Renaissance Technologies LLC owned approximately 0.35% of Melco Resorts & Entertainment worth $37,087,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new stake in shares of Melco Resorts & Entertainment in the second quarter worth about $48,000. Asahi Life Asset Management CO. LTD. purchased a new stake in shares of Melco Resorts & Entertainment in the second quarter worth about $98,000. Atlas Capital Advisors LLC purchased a new stake in shares of Melco Resorts & Entertainment in the second quarter worth about $139,000. Advisors Asset Management Inc. boosted its position in shares of Melco Resorts & Entertainment by 19.4% in the first quarter. Advisors Asset Management Inc. now owns 7,094 shares of the company’s stock worth $160,000 after buying an additional 1,153 shares during the period. Finally, Almanack Investment Partners LLC. purchased a new stake in shares of Melco Resorts & Entertainment in the second quarter worth about $163,000. 35.80% of the stock is owned by institutional investors.

Shares of Melco Resorts & Entertainment stock traded down $0.02 on Thursday, reaching $21.44. 66,678 shares of the company were exchanged, compared to its average volume of 2,366,383. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.80 and a current ratio of 0.82. The company’s 50-day moving average is $21.04 and its two-hundred day moving average is $22.38. The firm has a market cap of $10.61 billion, a price-to-earnings ratio of 24.11, a P/E/G ratio of 0.89 and a beta of 1.86. Melco Resorts & Entertainment Limited has a 1-year low of $15.33 and a 1-year high of $26.97.



Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Melco Resorts & Entertainment had a return on equity of 14.53% and a net margin of 6.55%. The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.12 EPS. As a group, sell-side analysts forecast that Melco Resorts & Entertainment Limited will post 1.1 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were given a dividend of $0.1651 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.08%. This is a boost from Melco Resorts & Entertainment’s previous quarterly dividend of $0.02. The ex-dividend date was Friday, August 2nd. Melco Resorts & Entertainment’s dividend payout ratio is presently 73.03%.

Several research analysts recently commented on the company. Nomura reiterated a “buy” rating and issued a $15.00 price target on shares of Melco Resorts & Entertainment in a research note on Tuesday, August 13th. CLSA set a $26.00 price target on Melco Resorts & Entertainment and gave the stock a “buy” rating in a research note on Friday, September 6th. ValuEngine cut Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research upgraded Melco Resorts & Entertainment from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Wednesday, August 28th. Finally, JPMorgan Chase & Co. cut their price target on Melco Resorts & Entertainment from $29.00 to $25.00 and set an “overweight” rating on the stock in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $25.31.

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.

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

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