New York State Common Retirement Fund Sells 1,472,366 Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO)


New York State Common Retirement Fund cut its stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCOFree Report) by 67.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 710,761 shares of the company’s stock after selling 1,472,366 shares during the period. New York State Common Retirement Fund owned 0.16% of Melco Resorts & Entertainment worth $7,029,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Melco Resorts & Entertainment by 3.3% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 35,078 shares of the company’s stock worth $428,000 after buying an additional 1,118 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Melco Resorts & Entertainment by 0.4% during the first quarter. Geode Capital Management LLC now owns 319,451 shares of the company’s stock worth $4,067,000 after buying an additional 1,273 shares during the last quarter. Credit Suisse AG raised its stake in shares of Melco Resorts & Entertainment by 0.6% during the fourth quarter. Credit Suisse AG now owns 245,406 shares of the company’s stock worth $2,822,000 after buying an additional 1,420 shares during the last quarter. Arbor Capital Management Inc. ADV raised its stake in shares of Melco Resorts & Entertainment by 1.5% during the first quarter. Arbor Capital Management Inc. ADV now owns 109,108 shares of the company’s stock worth $1,402,000 after buying an additional 1,643 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Melco Resorts & Entertainment by 12.3% during the fourth quarter. American Century Companies Inc. now owns 15,178 shares of the company’s stock worth $175,000 after buying an additional 1,663 shares during the last quarter. 39.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Susquehanna assumed coverage on shares of Melco Resorts & Entertainment in a research note on Friday, December 15th. They set a “positive” rating and a $15.00 price target for the company. Morgan Stanley reissued an “equal weight” rating and set a $9.60 price target on shares of Melco Resorts & Entertainment in a research note on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Melco Resorts & Entertainment currently has an average rating of “Hold” and a consensus target price of $14.78.

View Our Latest Analysis on Melco Resorts & Entertainment

Melco Resorts & Entertainment Stock Performance

Shares of NASDAQ:MLCO opened at $8.87 on Friday. Melco Resorts & Entertainment Limited has a 52 week low of $6.80 and a 52 week high of $14.45. The company has a market capitalization of $3.95 billion, a PE ratio of -10.56 and a beta of 1.14. The company has a 50 day moving average price of $8.36 and a two-hundred day moving average price of $9.23.

Melco Resorts & Entertainment (NASDAQ:MLCOGet Free Report) last issued its earnings results on Tuesday, November 7th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.05). The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the firm earned ($0.52) earnings per share. The business’s quarterly revenue was up 320.7% on a year-over-year basis. On average, sell-side analysts forecast that Melco Resorts & Entertainment Limited will post -0.19 earnings per share for the current year.

About Melco Resorts & Entertainment

(Free Report)

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.

See Also

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 Limited (NASDAQ:MLCOFree Report).

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.

Latest news
Related news