Raymond James Financial Services Advisors Inc. Purchases 19,007 Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Raymond James Financial Services Advisors Inc. raised its position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCOGet Rating) by 28.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 86,476 shares of the company’s stock after purchasing an additional 19,007 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Melco Resorts & Entertainment were worth $573,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MLCO. McDonald Partners LLC lifted its stake in shares of Melco Resorts & Entertainment by 3.4% during the 3rd quarter. McDonald Partners LLC now owns 81,680 shares of the company’s stock valued at $542,000 after buying an additional 2,670 shares in the last quarter. Coronation Fund Managers Ltd. lifted its position in shares of Melco Resorts & Entertainment by 65.8% in the third quarter. Coronation Fund Managers Ltd. now owns 6,311,377 shares of the company’s stock valued at $41,844,000 after acquiring an additional 2,505,157 shares in the last quarter. Arden Trust Co bought a new position in shares of Melco Resorts & Entertainment in the third quarter worth about $70,000. Chiron Capital Management LLC boosted its stake in shares of Melco Resorts & Entertainment by 3.6% in the third quarter. Chiron Capital Management LLC now owns 51,900 shares of the company’s stock worth $344,000 after acquiring an additional 1,800 shares during the period. Finally, Mackenzie Financial Corp grew its position in shares of Melco Resorts & Entertainment by 1.3% during the third quarter. Mackenzie Financial Corp now owns 1,421,721 shares of the company’s stock worth $9,426,000 after purchasing an additional 17,764 shares in the last quarter. 39.70% of the stock is currently owned by institutional investors.

Melco Resorts & Entertainment Stock Down 2.6 %

Shares of MLCO opened at $13.10 on Wednesday. The company has a debt-to-equity ratio of 21.09, a current ratio of 2.34 and a quick ratio of 2.31. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of -7.32 and a beta of 1.10. Melco Resorts & Entertainment Limited has a 1 year low of $4.06 and a 1 year high of $14.15. The business’s 50 day simple moving average is $10.92 and its 200-day simple moving average is $7.62.

Melco Resorts & Entertainment (NASDAQ:MLCOGet Rating) last posted its earnings results on Wednesday, November 2nd. The company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.04. The firm had revenue of $241.84 million during the quarter, compared to the consensus estimate of $305.79 million. Melco Resorts & Entertainment had a negative return on equity of 182.94% and a negative net margin of 56.15%. As a group, equities analysts expect that Melco Resorts & Entertainment Limited will post -2.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MLCO shares. StockNews.com upgraded Melco Resorts & Entertainment to a “sell” rating in a research note on Thursday, December 1st. JPMorgan Chase & Co. upgraded shares of Melco Resorts & Entertainment from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $7.00 to $10.00 in a research report on Monday, November 28th. Finally, Credit Suisse Group downgraded shares of Melco Resorts & Entertainment from an “outperform” rating to a “neutral” rating in a report on Monday, October 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $10.75.

About Melco Resorts & Entertainment

(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.

Read More

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

Receive News & Ratings for Melco Resorts & Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Melco Resorts & Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.