Vident Advisory LLC Has $92,000 Stake in Melco Resorts & Entertainment Limited $MLCO

Vident Advisory LLC lowered its position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 29.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 17,399 shares of the company’s stock after selling 7,175 shares during the period. Vident Advisory LLC’s holdings in Melco Resorts & Entertainment were worth $92,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of MLCO. Trexquant Investment LP grew its holdings in Melco Resorts & Entertainment by 15.2% in the first quarter. Trexquant Investment LP now owns 1,306,608 shares of the company’s stock worth $6,886,000 after purchasing an additional 171,960 shares during the period. Samalin Investment Counsel LLC grew its holdings in Melco Resorts & Entertainment by 171.4% in the first quarter. Samalin Investment Counsel LLC now owns 261,312 shares of the company’s stock worth $1,377,000 after purchasing an additional 165,039 shares during the period. Long Corridor Asset Management Ltd acquired a new stake in Melco Resorts & Entertainment in the first quarter worth $718,000. Caitong International Asset Management Co. Ltd acquired a new stake in Melco Resorts & Entertainment in the first quarter worth $34,000. Finally, Nuveen LLC bought a new stake in Melco Resorts & Entertainment in the 1st quarter valued at about $31,946,000. 39.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Zacks Research raised Melco Resorts & Entertainment from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. Susquehanna boosted their target price on Melco Resorts & Entertainment from $8.00 to $10.00 and gave the company a “positive” rating in a research report on Wednesday, July 30th. Bank of America boosted their target price on Melco Resorts & Entertainment from $5.70 to $6.60 and gave the company a “neutral” rating in a research report on Tuesday, May 20th. CLSA raised Melco Resorts & Entertainment from a “hold” rating to an “outperform” rating in a research report on Wednesday, September 3rd. Finally, Wall Street Zen upgraded shares of Melco Resorts & Entertainment from a “hold” rating to a “buy” rating in a research note on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $8.15.

Melco Resorts & Entertainment Trading Up 2.4%

Shares of MLCO stock opened at $9.96 on Friday. 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 $4.18 billion, a PE ratio of 76.62 and a beta of 0.77. The firm has a fifty day simple moving average of $9.09 and a two-hundred day simple moving average of $6.94.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its earnings results on Thursday, July 31st. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.14. Melco Resorts & Entertainment had a net margin of 1.15% and a negative return on equity of 18.47%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the business posted $0.05 EPS. The business’s revenue was up 14.5% compared to the same quarter last year. On average, equities analysts predict that Melco Resorts & Entertainment Limited will post 0.16 earnings per share for the current fiscal year.

About Melco Resorts & Entertainment

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.