Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Position Cut by FIL Ltd

FIL Ltd lessened its stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 95.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 29,453 shares of the company’s stock after selling 643,172 shares during the quarter. FIL Ltd’s holdings in Melco Resorts & Entertainment were worth $665,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Advisors Asset Management Inc. boosted its position in shares of Melco Resorts & Entertainment by 60.6% during the 4th quarter. Advisors Asset Management Inc. now owns 5,941 shares of the company’s stock valued at $105,000 after purchasing an additional 2,242 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Melco Resorts & Entertainment by 123.4% during the 1st quarter. Quadrant Capital Group LLC now owns 5,310 shares of the company’s stock valued at $116,000 after purchasing an additional 2,933 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in shares of Melco Resorts & Entertainment by 14.7% during the 1st quarter. Gulf International Bank UK Ltd now owns 5,450 shares of the company’s stock valued at $123,000 after purchasing an additional 700 shares in the last quarter. Executive Wealth Management LLC bought a new position in shares of Melco Resorts & Entertainment during the 4th quarter valued at about $131,000. Finally, GAM Holding AG boosted its position in shares of Melco Resorts & Entertainment by 18.2% during the 4th quarter. GAM Holding AG now owns 13,003 shares of the company’s stock valued at $229,000 after purchasing an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 33.36% of the company’s stock.

MLCO stock opened at $20.04 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 1.51. Melco Resorts & Entertainment Limited has a one year low of $15.33 and a one year high of $30.47. The stock has a market cap of $9.91 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 1.09 and a beta of 1.76.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Melco Resorts & Entertainment had a net margin of 6.00% and a return on equity of 13.47%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the firm earned $0.32 earnings per share. The business’s quarterly revenue was up 3.7% on a year-over-year basis. Sell-side analysts predict that Melco Resorts & Entertainment Limited will post 0.96 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Monday, May 20th were paid a dividend of $0.1551 per share. The ex-dividend date of this dividend was Friday, May 17th. This is a positive change from Melco Resorts & Entertainment’s previous quarterly dividend of $0.16. This represents a $0.62 dividend on an annualized basis and a yield of 3.10%. Melco Resorts & Entertainment’s dividend payout ratio is currently 68.54%.

MLCO has been the subject of several research reports. TheStreet upgraded shares of Melco Resorts & Entertainment from a “c+” rating to a “b” rating in a research report on Wednesday, February 20th. Zacks Investment Research upgraded shares of Melco Resorts & Entertainment from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Wednesday, March 13th. Deutsche Bank set a $24.00 price objective on shares of Melco Resorts & Entertainment and gave the company a “buy” rating in a research report on Wednesday, February 20th. Nomura raised their price objective on shares of Melco Resorts & Entertainment to $27.00 and gave the company a “buy” rating in a research report on Wednesday, February 20th. Finally, China Renaissance Securities upgraded shares of Melco Resorts & Entertainment from a “hold” rating to a “buy” rating in a research report on Tuesday, February 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $28.02.

TRADEMARK VIOLATION WARNING: This news story was posted by Stock Observer and is the sole property of of Stock Observer. If you are viewing this news story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The original version of this news story can be viewed at https://www.thestockobserver.com/2019/06/16/melco-resorts-entertainment-limited-nasdaqmlco-position-cut-by-fil-ltd.html.

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.

See Also: Stock Split

Want to see what other hedge funds are holding MLCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Melco Resorts & Entertainment Limited (NASDAQ:MLCO).

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

Receive News & Ratings for Melco Resorts & Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Melco Resorts & Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.