D. E. Shaw & Co. Inc. Grows Position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

D. E. Shaw & Co. Inc. boosted its stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 9.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 2,975,344 shares of the company’s stock after buying an additional 255,549 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in Melco Resorts & Entertainment were worth $59,239,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MLCO. Amundi Pioneer Asset Management Inc. raised its position in Melco Resorts & Entertainment by 4.5% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 232,975 shares of the company’s stock valued at $5,263,000 after buying an additional 10,046 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in Melco Resorts & Entertainment by 3.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 37,751 shares of the company’s stock valued at $700,000 after buying an additional 1,100 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Melco Resorts & Entertainment by 4.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 84,232 shares of the company’s stock valued at $1,563,000 after purchasing an additional 3,800 shares during the last quarter. Stifel Financial Corp increased its position in shares of Melco Resorts & Entertainment by 24.2% during the 4th quarter. Stifel Financial Corp now owns 156,672 shares of the company’s stock valued at $2,906,000 after purchasing an additional 30,575 shares during the last quarter. Finally, ExodusPoint Capital Management LP purchased a new stake in shares of Melco Resorts & Entertainment during the 4th quarter valued at $1,352,000. 38.30% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ MLCO opened at $15.12 on Thursday. Melco Resorts & Entertainment Limited has a 52 week low of $14.28 and a 52 week high of $23.65. The business has a 50-day moving average of $16.71. The company has a quick ratio of 1.85, a current ratio of 1.89 and a debt-to-equity ratio of 4.00.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its earnings results on Wednesday, April 28th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.13). Melco Resorts & Entertainment had a negative return on equity of 54.96% and a negative net margin of 78.87%. The company had revenue of $518.90 million during the quarter, compared to the consensus estimate of $704.33 million. During the same quarter in the prior year, the business earned ($0.76) EPS. The firm’s revenue for the quarter was down 36.0% compared to the same quarter last year. On average, equities analysts forecast that Melco Resorts & Entertainment Limited will post -0.7 earnings per share for the current fiscal year.

Several equities research analysts have recently issued reports on the company. TheStreet lowered Melco Resorts & Entertainment from a “c-” rating to a “d+” rating in a research report on Monday, May 24th. Zacks Investment Research lowered Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a research report on Friday, June 11th. HSBC lowered Melco Resorts & Entertainment from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $21.10 to $16.90 in a report on Thursday, July 15th. Finally, Morgan Stanley lowered Melco Resorts & Entertainment from an “overweight” rating to an “equal weight” rating and set a $17.00 price objective for the company. in a report on Monday, May 24th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Melco Resorts & Entertainment has a consensus rating of “Hold” and a consensus price target of $20.41.

About Melco Resorts & Entertainment

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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