Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Shares Bought by National Bank of Canada FI

National Bank of Canada FI raised its position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 50,917.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 761,693 shares of the company’s stock after acquiring an additional 760,200 shares during the quarter. National Bank of Canada FI owned approximately 0.17% of Melco Resorts & Entertainment worth $7,030,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Melco Resorts & Entertainment by 12.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,102 shares of the company’s stock worth $466,000 after purchasing an additional 5,200 shares during the period. Panagora Asset Management Inc. purchased a new position in Melco Resorts & Entertainment in the 3rd quarter valued at approximately $269,000. Banque Pictet & Cie SA purchased a new position in Melco Resorts & Entertainment in the 3rd quarter valued at approximately $175,000. Capital Wealth Planning LLC boosted its position in Melco Resorts & Entertainment by 96.8% in the 3rd quarter. Capital Wealth Planning LLC now owns 35,422 shares of the company’s stock valued at $350,000 after buying an additional 17,422 shares during the period. Finally, Barclays PLC boosted its position in Melco Resorts & Entertainment by 107.7% in the 3rd quarter. Barclays PLC now owns 1,914,993 shares of the company’s stock valued at $18,940,000 after buying an additional 992,813 shares during the period. 39.62% of the stock is owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Stock Up 2.3 %

MLCO opened at $8.02 on Friday. Melco Resorts & Entertainment Limited has a 52 week low of $6.10 and a 52 week high of $13.91. The business has a 50 day moving average price of $7.06 and a two-hundred day moving average price of $7.79. The company has a market cap of $3.57 billion, a PE ratio of -19.10 and a beta of 1.10.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. Melco Resorts & Entertainment had a negative net margin of 4.34% and a negative return on equity of 7.61%. Melco Resorts & Entertainment’s quarterly revenue was up 55.2% on a year-over-year basis. During the same period last year, the firm posted ($0.14) EPS. As a group, sell-side analysts expect that Melco Resorts & Entertainment Limited will post 0.29 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research report on Friday, April 5th. Citigroup lifted their price objective on shares of Melco Resorts & Entertainment from $13.75 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Morgan Stanley raised shares of Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $8.30 to $9.60 in a research report on Monday. Finally, Susquehanna reduced their price target on shares of Melco Resorts & Entertainment from $15.00 to $11.00 and set a “positive” rating for the company in a research report on Monday, April 29th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $13.82.

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.