Melco Resorts & Entertainment Limited $MLCO Shares Acquired by Solstein Capital LLC

Solstein Capital LLC grew its holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 74.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 9,340 shares of the company’s stock after buying an additional 4,000 shares during the quarter. Solstein Capital LLC’s holdings in Melco Resorts & Entertainment were worth $68,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. ARGA Investment Management LP lifted its holdings in shares of Melco Resorts & Entertainment by 0.4% in the 1st quarter. ARGA Investment Management LP now owns 29,760,953 shares of the company’s stock valued at $156,840,000 after buying an additional 108,529 shares during the period. Nuveen LLC acquired a new stake in shares of Melco Resorts & Entertainment in the 1st quarter valued at approximately $31,946,000. Goldman Sachs Group Inc. lifted its holdings in shares of Melco Resorts & Entertainment by 16.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,015,200 shares of the company’s stock valued at $31,700,000 after buying an additional 846,504 shares during the period. Brightlight Capital Management LP acquired a new stake in shares of Melco Resorts & Entertainment in the 1st quarter valued at approximately $15,141,000. Finally, Millennium Management LLC lifted its holdings in shares of Melco Resorts & Entertainment by 69.3% in the 1st quarter. Millennium Management LLC now owns 1,915,978 shares of the company’s stock valued at $10,097,000 after buying an additional 784,403 shares during the period. 39.62% of the stock is owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Stock Performance

Melco Resorts & Entertainment stock opened at $8.32 on Monday. The stock has a fifty day moving average of $9.11 and a two-hundred day moving average of $7.69. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 64.00 and a beta of 0.71. Melco Resorts & Entertainment Limited has a fifty-two week low of $4.55 and a fifty-two week high of $10.15.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.14. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.20 billion. Melco Resorts & Entertainment had a negative return on equity of 18.47% and a net margin of 1.15%.Melco Resorts & Entertainment’s revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 earnings per share. On average, analysts forecast that Melco Resorts & Entertainment Limited will post 0.16 EPS for the current fiscal year.

Analyst Ratings Changes

MLCO has been the subject of several recent analyst reports. Susquehanna raised their price target on Melco Resorts & Entertainment from $8.00 to $10.00 and gave the company a “positive” rating in a report on Wednesday, July 30th. Citigroup lifted their price objective on Melco Resorts & Entertainment from $11.00 to $11.50 and gave the stock a “buy” rating in a report on Friday, August 1st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Melco Resorts & Entertainment in a report on Saturday. Wall Street Zen cut Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Finally, CLSA raised Melco Resorts & Entertainment from a “hold” rating to an “outperform” rating in a report on Wednesday, September 3rd. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $8.15.

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.