The Manufacturers Life Insurance Company Acquires 3,873 Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

The Manufacturers Life Insurance Company boosted its position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 8.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 50,215 shares of the company’s stock after purchasing an additional 3,873 shares during the period. The Manufacturers Life Insurance Company’s holdings in Melco Resorts & Entertainment were worth $291,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Samalin Investment Counsel LLC increased its holdings in Melco Resorts & Entertainment by 11.6% in the 4th quarter. Samalin Investment Counsel LLC now owns 96,273 shares of the company’s stock worth $557,000 after acquiring an additional 10,000 shares in the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Melco Resorts & Entertainment during the fourth quarter valued at $58,000. Mariner LLC grew its position in shares of Melco Resorts & Entertainment by 12.3% in the 4th quarter. Mariner LLC now owns 95,939 shares of the company’s stock worth $555,000 after buying an additional 10,491 shares during the last quarter. Empirical Asset Management LLC purchased a new stake in Melco Resorts & Entertainment during the 4th quarter worth approximately $73,000. Finally, Mcdonald Partners LLC grew its position in Melco Resorts & Entertainment by 19.4% during the 4th quarter. Mcdonald Partners LLC now owns 92,360 shares of the company’s stock worth $535,000 after purchasing an additional 15,021 shares during the last quarter. Institutional investors own 39.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Susquehanna decreased their target price on shares of Melco Resorts & Entertainment from $10.00 to $9.00 and set a “positive” rating for the company in a research note on Monday, February 3rd. Morgan Stanley upgraded shares of Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $7.50 to $6.70 in a research note on Monday, March 3rd. Citigroup raised shares of Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and set a $6.25 target price on the stock in a report on Thursday, April 10th. Finally, UBS Group cut shares of Melco Resorts & Entertainment from a “buy” rating to a “sell” rating and set a $4.60 price objective on the stock. in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $6.84.

Melco Resorts & Entertainment Trading Up 1.6%

NASDAQ:MLCO opened at $6.44 on Monday. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of -29.27, a price-to-earnings-growth ratio of 0.63 and a beta of 0.71. The company’s 50-day moving average is $5.33 and its two-hundred day moving average is $5.76. Melco Resorts & Entertainment Limited has a 12-month low of $4.55 and a 12-month high of $8.90.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.13. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.21 billion. Melco Resorts & Entertainment had a negative net margin of 2.04% and a negative return on equity of 16.35%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.04 EPS. On average, equities research analysts forecast that Melco Resorts & Entertainment Limited will post 0.16 earnings per share for the current fiscal 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.