Walleye Capital LLC Makes New Investment in Melco Resorts & Entertainment Limited $MLCO

Walleye Capital LLC acquired a new stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 437,837 shares of the company’s stock, valued at approximately $3,166,000.

Several other large investors have also recently added to or reduced their stakes in the business. FNY Investment Advisers LLC purchased a new position in Melco Resorts & Entertainment in the 2nd quarter valued at approximately $38,000. Caitong International Asset Management Co. Ltd purchased a new position in Melco Resorts & Entertainment in the first quarter valued at $34,000. Solstein Capital LLC boosted its holdings in Melco Resorts & Entertainment by 74.9% in the second quarter. Solstein Capital LLC now owns 9,340 shares of the company’s stock valued at $68,000 after purchasing an additional 4,000 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in Melco Resorts & Entertainment during the 2nd quarter worth $71,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Melco Resorts & Entertainment in the 2nd quarter valued at about $75,000. 39.62% of the stock is owned by hedge funds and other institutional investors.

Melco Resorts & Entertainment Price Performance

Shares of NASDAQ:MLCO opened at $8.78 on Monday. Melco Resorts & Entertainment Limited has a 12 month low of $4.55 and a 12 month high of $10.15. The firm has a market capitalization of $3.69 billion, a P/E ratio of 33.77 and a beta of 0.64. The company’s fifty day moving average price is $8.58 and its 200 day moving average price is $8.40.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its earnings results on Thursday, November 6th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.10. Melco Resorts & Entertainment had a negative return on equity of 23.00% and a net margin of 2.06%.The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The business’s revenue was up 11.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Melco Resorts & Entertainment Limited will post 0.16 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on MLCO. Wall Street Zen upgraded shares of Melco Resorts & Entertainment from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Zacks Research cut shares of Melco Resorts & Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 16th. Weiss Ratings restated a “sell (d)” rating on shares of Melco Resorts & Entertainment in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on shares of Melco Resorts & Entertainment from $10.50 to $11.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. 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 given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $8.40.

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.