Greenleaf Trust Acquires New Shares in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Greenleaf Trust acquired a new stake in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 10,353 shares of the company’s stock, valued at approximately $92,000.

Other institutional investors have also recently bought and sold shares of the company. TORQ CAPITAL MANAGEMENT HK Ltd raised its holdings in Melco Resorts & Entertainment by 268.5% during the fourth quarter. TORQ CAPITAL MANAGEMENT HK Ltd now owns 1,819,627 shares of the company’s stock valued at $16,140,000 after buying an additional 1,325,878 shares in the last quarter. Custom Index Systems LLC bought a new position in Melco Resorts & Entertainment during the fourth quarter valued at about $428,000. Tobam raised its holdings in Melco Resorts & Entertainment by 38.5% during the fourth quarter. Tobam now owns 13,728 shares of the company’s stock valued at $122,000 after buying an additional 3,818 shares in the last quarter. Integrated Investment Consultants LLC bought a new position in Melco Resorts & Entertainment during the fourth quarter valued at about $745,000. Finally, DAVENPORT & Co LLC raised its holdings in Melco Resorts & Entertainment by 6.5% during the fourth quarter. DAVENPORT & Co LLC now owns 94,002 shares of the company’s stock valued at $834,000 after buying an additional 5,750 shares in the last quarter. Institutional investors and hedge funds own 39.62% of the company’s stock.

Melco Resorts & Entertainment Trading Up 0.6 %

Melco Resorts & Entertainment stock opened at $6.31 on Friday. The business’s 50-day simple moving average is $7.32 and its 200-day simple moving average is $7.90. Melco Resorts & Entertainment Limited has a 52 week low of $6.10 and a 52 week high of $14.00.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.10. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the firm earned ($0.51) earnings per share. The company’s revenue was up 224.4% on a year-over-year basis. As a group, research analysts predict that Melco Resorts & Entertainment Limited will post 0.28 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on MLCO. Morgan Stanley restated an “equal weight” rating and set a $9.60 target price on shares of Melco Resorts & Entertainment in a report on Tuesday, January 2nd. StockNews.com upgraded Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research note on Friday, April 5th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Melco Resorts & Entertainment has a consensus rating of “Moderate Buy” and an average target price of $14.78.

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.