BNP Paribas Financial Markets Boosts Stock Position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

BNP Paribas Financial Markets raised its stake in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 206.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,009,189 shares of the company’s stock after buying an additional 1,353,617 shares during the quarter. BNP Paribas Financial Markets owned about 0.48% of Melco Resorts & Entertainment worth $11,633,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in shares of Melco Resorts & Entertainment by 140.7% in the 4th quarter. GAMMA Investing LLC now owns 7,533 shares of the company’s stock worth $44,000 after purchasing an additional 4,403 shares during the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Melco Resorts & Entertainment during the fourth quarter valued at approximately $58,000. Empirical Asset Management LLC bought a new stake in shares of Melco Resorts & Entertainment during the fourth quarter valued at approximately $73,000. Wealthspire Advisors LLC purchased a new position in Melco Resorts & Entertainment in the 4th quarter worth approximately $145,000. Finally, Tower Research Capital LLC TRC boosted its stake in Melco Resorts & Entertainment by 546.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 26,460 shares of the company’s stock valued at $153,000 after purchasing an additional 22,370 shares during the last quarter. Hedge funds and other institutional investors own 39.62% of the company’s stock.

Melco Resorts & Entertainment Stock Up 2.1 %

Shares of NASDAQ:MLCO opened at $5.97 on Friday. The firm’s 50 day moving average price is $5.26 and its 200-day moving average price is $5.78. The stock has a market capitalization of $2.54 billion, a PE ratio of -27.14, a price-to-earnings-growth ratio of 0.63 and a beta of 0.71. Melco Resorts & Entertainment Limited has a twelve month low of $4.55 and a twelve month high of $8.90.

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

Analyst Ratings Changes

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

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.