Bronfman E.L. Rothschild L.P. increased its stake in shares of Melco Resorts & Entertainment Ltd (NASDAQ:MLCO) by 603.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 21,726 shares of the company’s stock after acquiring an additional 18,638 shares during the period. Bronfman E.L. Rothschild L.P.’s holdings in Melco Resorts & Entertainment were worth $631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. bought a new position in Melco Resorts & Entertainment during the 3rd quarter worth $5,828,000. Korea Investment CORP bought a new position in Melco Resorts & Entertainment during the 3rd quarter worth $2,685,000. Nomura Asset Management Co. Ltd. bought a new position in Melco Resorts & Entertainment during the 3rd quarter worth $2,115,000. Bank of New York Mellon Corp bought a new position in Melco Resorts & Entertainment during the 3rd quarter worth $14,131,000. Finally, Swiss National Bank bought a new position in Melco Resorts & Entertainment during the 3rd quarter worth $22,076,000. Hedge funds and other institutional investors own 40.61% of the company’s stock.

Shares of Melco Resorts & Entertainment Ltd (MLCO) opened at $27.11 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.10 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $13,360.00, a price-to-earnings ratio of 38.73, a PEG ratio of 2.05 and a beta of 1.71. Melco Resorts & Entertainment Ltd has a twelve month low of $16.00 and a twelve month high of $30.49.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.03). The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.36 billion. Melco Resorts & Entertainment had a net margin of 6.47% and a return on equity of 13.83%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. analysts forecast that Melco Resorts & Entertainment Ltd will post 1.07 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 7th. Stockholders of record on Tuesday, February 20th will be issued a $0.135 dividend. This is a positive change from Melco Resorts & Entertainment’s previous quarterly dividend of $0.02. The ex-dividend date is Friday, February 16th. This represents a $0.54 annualized dividend and a dividend yield of 1.99%. Melco Resorts & Entertainment’s dividend payout ratio is 50.00%.

A number of brokerages recently commented on MLCO. Zacks Investment Research downgraded Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. TheStreet raised Melco Resorts & Entertainment from a “c+” rating to a “b” rating in a research note on Tuesday, November 21st. BidaskClub cut Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Goldman Sachs Group raised Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating in a research note on Sunday, February 4th. Finally, JPMorgan Chase & Co. raised Melco Resorts & Entertainment from a “neutral” rating to an “overweight” rating and set a $32.00 price target for the company in a research note on Tuesday, December 19th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Melco Resorts & Entertainment has an average rating of “Buy” and a consensus price target of $27.03.

ILLEGAL ACTIVITY WARNING: “Bronfman E.L. Rothschild L.P. Buys 18,638 Shares of Melco Resorts & Entertainment Ltd (MLCO)” was originally posted by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this story on another domain, it was stolen and republished in violation of international copyright and trademark legislation. The legal version of this story can be viewed at https://theolympiareport.com/2018/02/14/bronfman-e-l-rothschild-l-p-buys-18638-shares-of-melco-resorts-entertainment-ltd-mlco.html.

Melco Resorts & Entertainment Profile

Melco Resorts & Entertainment Limited, formerly Melco Crown Entertainment Limited, is a holding company. The Company, through its subsidiaries, develops, owns and operates casino gaming and entertainment casino resort facilities in Asia. It is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in over two geographic areas, which include Macau and the Philippines.

Want to see what other hedge funds are holding MLCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Melco Resorts & Entertainment Ltd (NASDAQ:MLCO).

Institutional Ownership by Quarter for Melco Resorts & Entertainment (NASDAQ:MLCO)

Receive News & Ratings for Melco Resorts & Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Melco Resorts & Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.