Southeastern Asset Management Inc. TN Has $30.16 Million Stock Position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Southeastern Asset Management Inc. TN lessened its holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 13.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,208,186 shares of the company’s stock after selling 803,457 shares during the quarter. Melco Resorts & Entertainment accounts for approximately 1.4% of Southeastern Asset Management Inc. TN’s investment portfolio, making the stock its 29th biggest position. Southeastern Asset Management Inc. TN owned about 1.24% of Melco Resorts & Entertainment worth $30,155,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MLCO. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Melco Resorts & Entertainment during the 4th quarter valued at $58,000. Empirical Asset Management LLC acquired a new position in shares of Melco Resorts & Entertainment during the 4th quarter worth $73,000. Wealthspire Advisors LLC acquired a new position in shares of Melco Resorts & Entertainment during the 4th quarter worth $145,000. Cantor Fitzgerald L. P. acquired a new position in shares of Melco Resorts & Entertainment during the 4th quarter worth $145,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of 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 worth $153,000 after buying an additional 22,370 shares in the last quarter. 39.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Melco Resorts & Entertainment Price Performance

Shares of Melco Resorts & Entertainment stock opened at $6.34 on Friday. The stock’s 50-day moving average is $5.31 and its 200 day moving average is $5.78. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of -28.82, a PEG ratio of 0.63 and a beta of 0.71. Melco Resorts & Entertainment Limited has a one year low of $4.55 and a one year high of $8.90.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.12 earnings per share (EPS) 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 analyst estimates of $1.21 billion. Melco Resorts & Entertainment had a negative return on equity of 16.35% and a negative net margin of 2.04%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.04 earnings per share. On average, sell-side analysts expect that Melco Resorts & Entertainment Limited will post 0.16 EPS for the current fiscal year.

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.