Point72 Hong Kong Ltd bought a new stake in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) during the second quarter, Holdings Channel.com reports. The fund bought 101,936 shares of the company’s stock, valued at approximately $2,214,000. Melco Resorts & Entertainment comprises 0.6% of Point72 Hong Kong Ltd’s holdings, making the stock its 19th largest holding.

Other large investors have also bought and sold shares of the company. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new stake in shares of Melco Resorts & Entertainment during the 2nd quarter valued at about $48,000. Tower Research Capital LLC TRC grew its position in shares of Melco Resorts & Entertainment by 2,725.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,882 shares of the company’s stock valued at $62,000 after acquiring an additional 2,780 shares during the period. Asahi Life Asset Management CO. LTD. acquired a new stake in shares of Melco Resorts & Entertainment during the 2nd quarter valued at about $98,000. Atlas Capital Advisors LLC acquired a new stake in shares of Melco Resorts & Entertainment during the 2nd quarter valued at about $139,000. Finally, Advisors Asset Management Inc. grew its position in shares of Melco Resorts & Entertainment by 19.4% during the 1st quarter. Advisors Asset Management Inc. now owns 7,094 shares of the company’s stock valued at $160,000 after acquiring an additional 1,153 shares during the period. Hedge funds and other institutional investors own 35.69% of the company’s stock.

Several equities research analysts recently issued reports on MLCO shares. Nomura reiterated a “buy” rating and issued a $15.00 price objective on shares of Melco Resorts & Entertainment in a report on Tuesday, August 13th. JPMorgan Chase & Co. lowered their price objective on Melco Resorts & Entertainment from $29.00 to $25.00 and set an “overweight” rating on the stock in a report on Friday, September 6th. Goldman Sachs Group set a $27.00 price objective on Melco Resorts & Entertainment and gave the stock a “buy” rating in a report on Tuesday, May 28th. BidaskClub cut Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. Finally, CLSA set a $26.00 price objective on Melco Resorts & Entertainment and gave the stock a “buy” rating in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating and thirteen have given a buy rating to the company’s stock. Melco Resorts & Entertainment has an average rating of “Buy” and an average target price of $25.29.

MLCO stock traded down $0.34 during trading on Friday, hitting $20.80. The stock had a trading volume of 1,080,288 shares, compared to its average volume of 1,401,125. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.82 and a quick ratio of 0.80. Melco Resorts & Entertainment Limited has a twelve month low of $15.33 and a twelve month high of $26.97. The stock has a market capitalization of $10.57 billion, a P/E ratio of 23.37, a PEG ratio of 0.89 and a beta of 1.86. The company’s 50-day moving average price is $20.63 and its two-hundred day moving average price is $22.31.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.04. Melco Resorts & Entertainment had a return on equity of 14.53% and a net margin of 6.55%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the firm posted $0.12 EPS. Melco Resorts & Entertainment’s revenue was up 17.4% compared to the same quarter last year. As a group, sell-side analysts expect that Melco Resorts & Entertainment Limited will post 1.08 EPS 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.

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

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