State of Tennessee Treasury Department raised its position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 87.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 702,278 shares of the company’s stock after purchasing an additional 328,397 shares during the quarter. State of Tennessee Treasury Department owned about 0.15% of Melco Resorts & Entertainment worth $8,708,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Nissay Asset Management Corp Japan ADV raised its stake in shares of Melco Resorts & Entertainment by 3.0% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 18,647 shares of the company’s stock worth $451,000 after buying an additional 537 shares during the last quarter. Level Four Advisory Services LLC raised its stake in shares of Melco Resorts & Entertainment by 3.9% during the fourth quarter. Level Four Advisory Services LLC now owns 15,478 shares of the company’s stock worth $374,000 after buying an additional 578 shares during the last quarter. Capital International Inc. CA raised its stake in shares of Melco Resorts & Entertainment by 0.9% during the fourth quarter. Capital International Inc. CA now owns 67,704 shares of the company’s stock worth $1,636,000 after buying an additional 635 shares during the last quarter. Lindbrook Capital LLC raised its stake in shares of Melco Resorts & Entertainment by 74.5% during the first quarter. Lindbrook Capital LLC now owns 2,030 shares of the company’s stock worth $25,000 after buying an additional 867 shares during the last quarter. Finally, American International Group Inc. raised its stake in shares of Melco Resorts & Entertainment by 3.9% during the first quarter. American International Group Inc. now owns 24,430 shares of the company’s stock worth $303,000 after buying an additional 917 shares during the last quarter. Institutional investors own 37.32% of the company’s stock.

Several equities research analysts have commented on MLCO shares. Nomura reaffirmed a “buy” rating and issued a $20.00 target price on shares of Melco Resorts & Entertainment in a research note on Sunday, May 17th. UBS Group upped their target price on shares of Melco Resorts & Entertainment from $19.60 to $21.80 and gave the company a “buy” rating in a research note on Friday, June 5th. BidaskClub downgraded shares of Melco Resorts & Entertainment from a “sell” rating to a “strong sell” rating in a research note on Friday, May 15th. Zacks Investment Research raised shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research note on Tuesday, March 24th. Finally, ValuEngine raised shares of Melco Resorts & Entertainment from a “hold” rating to a “buy” rating in a research note on Friday, April 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $24.47.

Shares of MLCO stock traded down $0.19 during trading hours on Friday, hitting $15.24. 33,981 shares of the company were exchanged, compared to its average volume of 2,727,760. The business has a 50 day moving average of $16.41 and a two-hundred day moving average of $18.26. The company has a current ratio of 1.53, a quick ratio of 1.50 and a debt-to-equity ratio of 1.93. Melco Resorts & Entertainment Limited has a 52 week low of $10.81 and a 52 week high of $25.49. The company has a market capitalization of $7.29 billion, a PE ratio of -66.91 and a beta of 1.98.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.59) by ($0.13). Melco Resorts & Entertainment had a negative return on equity of 1.04% and a negative net margin of 2.19%. The company had revenue of $811.18 million for the quarter, compared to the consensus estimate of $631.64 million. On average, research analysts forecast that Melco Resorts & Entertainment Limited will post -1.42 EPS for the current 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.

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

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