Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN lessened its stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 23.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,838 shares of the company’s stock after selling 4,354 shares during the period. Wells Fargo & Company MN’s holdings in Melco Resorts & Entertainment were worth $80,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MLCO. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Melco Resorts & Entertainment during the 4th quarter worth approximately $28,989,000. JPMorgan Chase & Co. lifted its stake in Melco Resorts & Entertainment by 1,240.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,342,132 shares of the company’s stock valued at $7,771,000 after buying an additional 1,241,986 shares in the last quarter. Trexquant Investment LP lifted its stake in Melco Resorts & Entertainment by 105.2% in the 4th quarter. Trexquant Investment LP now owns 1,134,648 shares of the company’s stock valued at $6,570,000 after buying an additional 581,778 shares in the last quarter. ARGA Investment Management LP lifted its stake in Melco Resorts & Entertainment by 1.6% in the 4th quarter. ARGA Investment Management LP now owns 29,652,424 shares of the company’s stock valued at $171,688,000 after buying an additional 456,117 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Melco Resorts & Entertainment by 20.4% during the 4th quarter. Sei Investments Co. now owns 725,100 shares of the company’s stock worth $4,198,000 after purchasing an additional 123,042 shares during the period. Institutional investors and hedge funds own 39.62% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on MLCO shares. Morgan Stanley raised Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $7.50 to $6.70 in a research note on Monday, March 3rd. Citigroup raised Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and set a $6.25 price target on the stock in a research note on Thursday, April 10th. Susquehanna reduced their price target on Melco Resorts & Entertainment from $10.00 to $9.00 and set a “positive” rating on the stock in a research note on Monday, February 3rd. Finally, UBS Group downgraded Melco Resorts & Entertainment from a “buy” rating to a “sell” rating and set a $4.60 price objective for the company. in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.84.

Melco Resorts & Entertainment Stock Up 4.3%

MLCO stock opened at $6.25 on Tuesday. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -28.41, a PEG ratio of 0.63 and a beta of 0.71. The business has a fifty day simple moving average of $5.27 and a 200-day simple moving average of $5.77. Melco Resorts & Entertainment Limited has a 52 week low of $4.55 and a 52 week high of $8.90.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.13. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.21 billion. Melco Resorts & Entertainment had a negative return on equity of 16.35% and a negative net margin of 2.04%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.04 EPS. As a group, analysts expect that Melco Resorts & Entertainment Limited will post 0.16 earnings per share for the current fiscal 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.