NWI Management LP Has $6.60 Million Stock Holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

NWI Management LP raised its holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 13.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 915,000 shares of the company’s stock after purchasing an additional 110,000 shares during the quarter. Melco Resorts & Entertainment accounts for approximately 0.2% of NWI Management LP’s investment portfolio, making the stock its 26th biggest position. NWI Management LP owned about 0.21% of Melco Resorts & Entertainment worth $6,597,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Quadrant Capital Group LLC boosted its holdings in shares of Melco Resorts & Entertainment by 15.4% in the 4th quarter. Quadrant Capital Group LLC now owns 10,368 shares of the company’s stock valued at $92,000 after purchasing an additional 1,386 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Melco Resorts & Entertainment by 2.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 116,620 shares of the company’s stock valued at $1,034,000 after acquiring an additional 2,700 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in shares of Melco Resorts & Entertainment by 1.1% during the 1st quarter. Bleakley Financial Group LLC now owns 264,989 shares of the company’s stock valued at $1,911,000 after acquiring an additional 2,961 shares in the last quarter. Tobam boosted its holdings in shares of Melco Resorts & Entertainment by 38.5% during the 4th quarter. Tobam now owns 13,728 shares of the company’s stock valued at $122,000 after acquiring an additional 3,818 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new stake in shares of Melco Resorts & Entertainment during the 4th quarter valued at $37,000. Institutional investors and hedge funds own 39.62% of the company’s stock.

Analyst Ratings Changes

MLCO has been the topic of several recent research reports. Bank of America cut their price objective on Melco Resorts & Entertainment from $10.40 to $8.50 and set a “buy” rating on the stock in a report on Thursday, July 11th. JPMorgan Chase & Co. downgraded Melco Resorts & Entertainment from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $10.00 to $7.00 in a report on Thursday, July 18th. StockNews.com raised Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research report on Friday, April 5th. Morgan Stanley raised Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $8.30 to $9.60 in a research report on Monday, May 6th. Finally, Susquehanna lowered their price objective on Melco Resorts & Entertainment from $15.00 to $11.00 and set a “positive” rating for the company in a research report on Monday, April 29th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $10.02.

Melco Resorts & Entertainment Trading Up 0.7 %

Melco Resorts & Entertainment stock traded up $0.04 during midday trading on Friday, reaching $5.87. The stock had a trading volume of 1,595,751 shares, compared to its average volume of 2,208,483. The company has a market capitalization of $2.61 billion, a P/E ratio of -13.98, a PEG ratio of 0.51 and a beta of 1.04. Melco Resorts & Entertainment Limited has a 12 month low of $5.67 and a 12 month high of $13.91. The company has a fifty day moving average price of $7.41 and a two-hundred day moving average price of $7.56.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. Melco Resorts & Entertainment had a negative return on equity of 7.61% and a negative net margin of 4.34%. The company’s quarterly revenue was up 55.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.14) EPS. On average, equities research analysts predict that Melco Resorts & Entertainment Limited will post 0.25 earnings per share for the current fiscal 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.