Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Shares Acquired by MetLife Investment Advisors LLC

MetLife Investment Advisors LLC lifted its position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 18.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,500 shares of the company’s stock after acquiring an additional 3,700 shares during the period. MetLife Investment Advisors LLC’s holdings in Melco Resorts & Entertainment were worth $531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MLCO. Gulf International Bank UK Ltd boosted its stake in shares of Melco Resorts & Entertainment by 14.7% during the 1st quarter. Gulf International Bank UK Ltd now owns 5,450 shares of the company’s stock worth $123,000 after acquiring an additional 700 shares in the last quarter. Gateway Investment Advisers LLC raised its holdings in Melco Resorts & Entertainment by 1.1% in the 1st quarter. Gateway Investment Advisers LLC now owns 86,742 shares of the company’s stock valued at $1,960,000 after acquiring an additional 981 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Melco Resorts & Entertainment by 19.4% in 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 last quarter. CIBC Asset Management Inc raised its holdings in Melco Resorts & Entertainment by 8.2% in the 4th quarter. CIBC Asset Management Inc now owns 16,956 shares of the company’s stock valued at $299,000 after acquiring an additional 1,291 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware raised its holdings in Melco Resorts & Entertainment by 3.0% in the 4th quarter. Mckinley Capital Management LLC Delaware now owns 48,995 shares of the company’s stock valued at $864,000 after acquiring an additional 1,411 shares during the last quarter. 33.31% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have commented on MLCO shares. Zacks Investment Research upgraded shares of Jack Henry & Associates from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th. Wolfe Research downgraded shares of Walmart from a “peer perform” rating to an “underperform” rating in a report on Wednesday, May 8th. Goldman Sachs Group set a $27.00 price objective on shares of Melco Resorts & Entertainment and gave the company a “buy” rating in a report on Tuesday, May 28th. Macquarie started coverage on shares of Wynn Macau in a report on Monday, April 8th. They issued an “outperform” rating for the company. Finally, BidaskClub downgraded shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Melco Resorts & Entertainment currently has an average rating of “Buy” and a consensus price target of $28.02.

Shares of NASDAQ:MLCO traded up $0.19 during mid-day trading on Thursday, reaching $24.46. 923,260 shares of the company were exchanged, compared to its average volume of 2,492,843. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.03 and a current ratio of 1.05. The company has a market cap of $12.00 billion, a price-to-earnings ratio of 27.48, a price-to-earnings-growth ratio of 1.26 and a beta of 1.77. The company has a 50-day moving average price of $21.55. 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 issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.03. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Melco Resorts & Entertainment had a net margin of 6.00% and a return on equity of 13.47%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 EPS. On average, research analysts predict that Melco Resorts & Entertainment Limited will post 0.95 earnings per share for the current 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.

Further Reading: P/E Growth (PEG)

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

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