Melco Resorts & Entertainment Limited (MLCO) Shares Bought by Columbus Circle Investors

Columbus Circle Investors raised its stake in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 91.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,064,431 shares of the company’s stock after buying an additional 507,515 shares during the quarter. Columbus Circle Investors’ holdings in Melco Resorts & Entertainment were worth $30,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Delpha Capital Management LLC purchased a new stake in Melco Resorts & Entertainment during the 4th quarter valued at approximately $183,000. Virtu Financial LLC purchased a new stake in Melco Resorts & Entertainment during the 4th quarter valued at approximately $200,000. Newman Dignan & Sheerar Inc. purchased a new stake in Melco Resorts & Entertainment during the 4th quarter valued at approximately $203,000. Wealthsource Partners LLC purchased a new stake in Melco Resorts & Entertainment during the 4th quarter valued at approximately $220,000. Finally, Claraphi Advisory Network LLC purchased a new stake in Melco Resorts & Entertainment during the 4th quarter valued at approximately $230,000. 41.32% of the stock is owned by institutional investors and hedge funds.

Melco Resorts & Entertainment opened at $31.12 on Friday, MarketBeat reports. Melco Resorts & Entertainment Limited has a fifty-two week low of $30.52 and a fifty-two week high of $31.19. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $15.38 billion, a P/E ratio of 33.83, a price-to-earnings-growth ratio of 1.94 and a beta of 1.54.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its earnings results on Thursday, May 3rd. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.07. Melco Resorts & Entertainment had a net margin of 7.33% and a return on equity of 15.10%. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the firm posted $0.23 earnings per share. Melco Resorts & Entertainment’s revenue for the quarter was up 2.8% compared to the same quarter last year. analysts predict that Melco Resorts & Entertainment Limited will post 1.33 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 23rd. Investors of record on Monday, May 14th will be issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Friday, May 11th. Melco Resorts & Entertainment’s dividend payout ratio (DPR) is presently 57.61%.

A number of equities research analysts have issued reports on the stock. BidaskClub lowered shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research raised shares of Melco Resorts & Entertainment from a “hold” rating to a “strong-buy” rating and set a $38.00 price objective for the company in a report on Tuesday, May 8th. ValuEngine raised shares of Melco Resorts & Entertainment from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. CLSA assumed coverage on shares of Melco Resorts & Entertainment in a report on Monday, February 26th. They issued an “outperform” rating for the company. Finally, Goldman Sachs raised shares of Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating in a report on Sunday, February 4th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $31.97.

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.

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

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