Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCOGet Rating) by 14.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 174,713 shares of the company’s stock after acquiring an additional 22,712 shares during the period. Envestnet Asset Management Inc.’s holdings in Melco Resorts & Entertainment were worth $1,005,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Commonwealth Equity Services LLC acquired a new position in shares of Melco Resorts & Entertainment in the 1st quarter valued at $78,000. Pinnacle Wealth Planning Services Inc. boosted its holdings in Melco Resorts & Entertainment by 59.0% in the 2nd quarter. Pinnacle Wealth Planning Services Inc. now owns 16,010 shares of the company’s stock worth $92,000 after acquiring an additional 5,941 shares during the period. XTX Topco Ltd acquired a new stake in Melco Resorts & Entertainment in the first quarter valued at approximately $110,000. Freestone Capital Holdings LLC purchased a new stake in shares of Melco Resorts & Entertainment during the first quarter valued at approximately $116,000. Finally, Toroso Investments LLC lifted its position in shares of Melco Resorts & Entertainment by 30.1% during the first quarter. Toroso Investments LLC now owns 17,040 shares of the company’s stock worth $130,000 after purchasing an additional 3,942 shares in the last quarter. Hedge funds and other institutional investors own 35.87% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. StockNews.com raised shares of Melco Resorts & Entertainment to a “sell” rating in a research note on Thursday, October 27th. Citigroup lifted their price target on shares of Melco Resorts & Entertainment from $11.00 to $11.50 and gave the stock a “buy” rating in a research note on Monday, September 26th. Finally, Credit Suisse Group downgraded shares of Melco Resorts & Entertainment from an “outperform” rating to a “neutral” rating in a research note on Monday, October 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Melco Resorts & Entertainment has a consensus rating of “Hold” and an average target price of $12.25.

Melco Resorts & Entertainment Trading Up 1.2 %

NASDAQ:MLCO opened at $6.75 on Friday. The company has a market cap of $3.00 billion, a PE ratio of -3.77 and a beta of 1.14. The business’s 50 day moving average is $6.45 and its two-hundred day moving average is $5.78. The company has a quick ratio of 2.31, a current ratio of 2.34 and a debt-to-equity ratio of 21.09. Melco Resorts & Entertainment Limited has a 52 week low of $4.06 and a 52 week high of $11.81.

Melco Resorts & Entertainment (NASDAQ:MLCOGet Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.04. The firm had revenue of $241.84 million for the quarter, compared to analysts’ expectations of $305.79 million. Melco Resorts & Entertainment had a negative return on equity of 182.94% and a negative net margin of 56.15%. On average, analysts predict that Melco Resorts & Entertainment Limited will post -2.07 EPS for the current year.

Melco Resorts & Entertainment Company Profile

(Get Rating)

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

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

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