Wellington Management Group LLP Has $1.09 Million Position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Wellington Management Group LLP lessened its position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 99.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 110,053 shares of the company’s stock after selling 10,814,031 shares during the period. Wellington Management Group LLP’s holdings in Melco Resorts & Entertainment were worth $1,088,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Sunbelt Securities Inc. acquired a new position in Melco Resorts & Entertainment in the first quarter valued at about $57,000. Penserra Capital Management LLC boosted its holdings in shares of Melco Resorts & Entertainment by 49.8% in the 4th quarter. Penserra Capital Management LLC now owns 5,754 shares of the company’s stock worth $66,000 after acquiring an additional 1,914 shares in the last quarter. Commonwealth Equity Services LLC bought a new stake in Melco Resorts & Entertainment during the 3rd quarter worth approximately $70,000. Centaurus Financial Inc. acquired a new stake in Melco Resorts & Entertainment during the 2nd quarter valued at $104,000. Finally, Creative Planning bought a new position in Melco Resorts & Entertainment in the 2nd quarter valued at $105,000. Institutional investors own 39.62% of the company’s stock.

Melco Resorts & Entertainment Stock Up 0.4 %

Melco Resorts & Entertainment stock opened at $7.21 on Friday. The business’s 50-day simple moving average is $7.93 and its 200 day simple moving average is $8.29. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of -11.44 and a beta of 1.12. Melco Resorts & Entertainment Limited has a 12-month low of $6.61 and a 12-month high of $14.45.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its earnings results on Thursday, February 29th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.10. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.14 billion. The firm’s revenue for the quarter was up 224.4% compared to the same quarter last year. During the same period last year, the business posted ($0.51) EPS. As a group, sell-side analysts expect that Melco Resorts & Entertainment Limited will post 0.28 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on MLCO. Susquehanna started coverage on Melco Resorts & Entertainment in a report on Friday, December 15th. They set a “positive” rating and a $15.00 target price on the stock. StockNews.com lowered shares of Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $9.60 target price on shares of Melco Resorts & Entertainment in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.78.

Melco Resorts & Entertainment Company 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.