GAMMA Investing LLC Invests $37,000 in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

GAMMA Investing LLC bought a new stake in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,118 shares of the company’s stock, valued at approximately $37,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Melco Resorts & Entertainment by 12.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,102 shares of the company’s stock valued at $466,000 after purchasing an additional 5,200 shares during the period. WESPAC Advisors LLC grew its stake in Melco Resorts & Entertainment by 7.4% during the 3rd quarter. WESPAC Advisors LLC now owns 31,994 shares of the company’s stock valued at $316,000 after acquiring an additional 2,193 shares in the last quarter. Matthews International Capital Management LLC increased its holdings in shares of Melco Resorts & Entertainment by 247.0% in the 3rd quarter. Matthews International Capital Management LLC now owns 1,194,039 shares of the company’s stock valued at $11,809,000 after purchasing an additional 849,949 shares during the period. Panagora Asset Management Inc. purchased a new stake in shares of Melco Resorts & Entertainment in the third quarter worth approximately $269,000. Finally, Banque Pictet & Cie SA acquired a new stake in shares of Melco Resorts & Entertainment during the third quarter worth approximately $175,000. Institutional investors and hedge funds own 39.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. StockNews.com raised shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research note on Friday, April 5th. Susquehanna lowered their price target on Melco Resorts & Entertainment from $15.00 to $11.00 and set a “positive” rating for the company in a research note on Monday, April 29th. Finally, Citigroup lifted their price objective on shares of Melco Resorts & Entertainment from $13.75 to $14.00 and gave the company a “buy” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Melco Resorts & Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.82.

Melco Resorts & Entertainment Price Performance

Shares of MLCO opened at $7.24 on Friday. The company has a market capitalization of $3.22 billion, a PE ratio of -17.24 and a beta of 1.10. The company’s fifty day moving average price is $7.10 and its 200 day moving average price is $7.80. Melco Resorts & Entertainment Limited has a one year low of $6.10 and a one year high of $13.91.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.11 billion. Melco Resorts & Entertainment had a negative return on equity of 8.00% and a negative net margin of 4.34%. The company’s quarterly revenue was up 55.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.14) earnings per share. Analysts anticipate that Melco Resorts & Entertainment Limited will post 0.29 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.