Private Advisor Group LLC grew its holdings in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 4.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 49,289 shares of the company’s stock after purchasing an additional 2,019 shares during the quarter. Private Advisor Group LLC’s holdings in Melco Resorts & Entertainment were worth $1,113,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its stake in shares of Melco Resorts & Entertainment by 7.4% in the 1st quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 174,000 shares of the company’s stock valued at $3,831,000 after purchasing an additional 12,000 shares during the last quarter. Todd Asset Management LLC lifted its stake in shares of Melco Resorts & Entertainment by 2.7% in the 1st quarter. Todd Asset Management LLC now owns 850,683 shares of the company’s stock valued at $19,216,000 after purchasing an additional 22,671 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Melco Resorts & Entertainment by 3.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 320,908 shares of the company’s stock valued at $5,653,000 after purchasing an additional 11,278 shares during the last quarter. Flowering Tree Investment Management Pte. Ltd. lifted its stake in shares of Melco Resorts & Entertainment by 7.1% in the 4th quarter. Flowering Tree Investment Management Pte. Ltd. now owns 3,475,123 shares of the company’s stock valued at $61,232,000 after purchasing an additional 229,320 shares during the last quarter. Finally, Advisor Group Inc. lifted its stake in shares of Melco Resorts & Entertainment by 261.1% in the 4th quarter. Advisor Group Inc. now owns 33,323 shares of the company’s stock valued at $588,000 after purchasing an additional 24,095 shares during the last quarter. Hedge funds and other institutional investors own 33.36% of the company’s stock.

Shares of MLCO stock opened at $20.45 on Friday. Melco Resorts & Entertainment Limited has a 52-week low of $15.33 and a 52-week high of $30.47. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.05 and a quick ratio of 1.03. The company has a market cap of $9.99 billion, a P/E ratio of 22.98, a price-to-earnings-growth ratio of 1.09 and a beta of 1.76.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. Melco Resorts & Entertainment had a return on equity of 13.47% and a net margin of 6.00%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the company earned $0.32 EPS. Melco Resorts & Entertainment’s quarterly revenue was up 3.7% compared to the same quarter last year. Research analysts expect that Melco Resorts & Entertainment Limited will post 0.96 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Monday, May 20th were paid a dividend of $0.1551 per share. This is a positive change from Melco Resorts & Entertainment’s previous quarterly dividend of $0.16. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date was Friday, May 17th. Melco Resorts & Entertainment’s dividend payout ratio (DPR) is currently 68.54%.

MLCO has been the subject of several analyst reports. BidaskClub lowered Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Macquarie initiated coverage on Melco Resorts & Entertainment in a research note on Monday, April 8th. They issued an “outperform” rating and a $25.10 price objective for the company. Nomura raised their price objective on Melco Resorts & Entertainment to $27.00 and gave the company a “buy” rating in a research note on Wednesday, February 20th. China Renaissance Securities raised Melco Resorts & Entertainment from a “hold” rating to a “buy” rating in a research note on Tuesday, February 19th. Finally, Zacks Investment Research lowered Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $28.02.

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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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