Fjarde AP Fonden Fourth Swedish National Pension Fund Grows Stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 7.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,400 shares of the company’s stock after purchasing an additional 1,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Melco Resorts & Entertainment were worth $415,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Nuveen Asset Management LLC bought a new position in Melco Resorts & Entertainment during the second quarter valued at approximately $219,643,000. Matthews International Capital Management LLC boosted its stake in Melco Resorts & Entertainment by 2,521.3% during the second quarter. Matthews International Capital Management LLC now owns 3,520,700 shares of the company’s stock valued at $76,470,000 after buying an additional 3,386,387 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Melco Resorts & Entertainment during the second quarter valued at approximately $44,932,000. Mackenzie Financial Corp bought a new position in Melco Resorts & Entertainment during the second quarter valued at approximately $28,726,000. Finally, Broad Peak Investment Management LTD. boosted its stake in Melco Resorts & Entertainment by 48.1% during the second quarter. Broad Peak Investment Management LTD. now owns 3,978,814 shares of the company’s stock valued at $86,420,000 after buying an additional 1,292,958 shares during the last quarter. Hedge funds and other institutional investors own 35.79% of the company’s stock.

A number of equities analysts recently commented on MLCO shares. Zacks Investment Research raised Melco Resorts & Entertainment from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Thursday. ValuEngine lowered Melco Resorts & Entertainment from a “sell” rating to a “strong sell” rating in a research note on Friday. BidaskClub lowered Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, November 2nd. CLSA set a $26.00 price target on Melco Resorts & Entertainment and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, UBS Group increased their price target on Melco Resorts & Entertainment from $25.60 to $26.80 and gave the company a “buy” rating in a research note on Friday, September 13th. Two analysts have rated the stock with a sell rating and twelve have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $24.77.

NASDAQ:MLCO opened at $22.19 on Friday. The firm has a market capitalization of $11.04 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 1.00 and a beta of 1.85. Melco Resorts & Entertainment Limited has a 1 year low of $15.40 and a 1 year high of $26.97. The business has a 50 day simple moving average of $20.74 and a 200-day simple moving average of $21.60. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.89 and a quick ratio of 0.88.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.03). The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.41 billion. Melco Resorts & Entertainment had a net margin of 7.60% and a return on equity of 17.61%. Melco Resorts & Entertainment’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.05 earnings per share. As a group, analysts expect that Melco Resorts & Entertainment Limited will post 1.05 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Thursday, November 7th. Melco Resorts & Entertainment’s payout ratio is 73.03%.

Melco Resorts & Entertainment Company 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.

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

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