Waterfront Capital Partners LLC Acquires New Holdings in Melco Resorts & Entertainment Limited (MLCO)

Waterfront Capital Partners LLC acquired a new stake in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 260,320 shares of the company’s stock, valued at approximately $5,506,000. Waterfront Capital Partners LLC owned about 0.05% of Melco Resorts & Entertainment as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Miracle Mile Advisors LLC lifted its holdings in shares of Melco Resorts & Entertainment by 20.4% in the third quarter. Miracle Mile Advisors LLC now owns 60,189 shares of the company’s stock worth $1,273,000 after buying an additional 10,189 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Melco Resorts & Entertainment by 602.8% in the third quarter. Canada Pension Plan Investment Board now owns 1,150,155 shares of the company’s stock worth $24,326,000 after buying an additional 986,500 shares in the last quarter. FIL Ltd lifted its holdings in shares of Melco Resorts & Entertainment by 3.4% in the third quarter. FIL Ltd now owns 809,156 shares of the company’s stock worth $17,113,000 after buying an additional 26,819 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Melco Resorts & Entertainment by 3.9% in the third quarter. PNC Financial Services Group Inc. now owns 309,630 shares of the company’s stock worth $6,548,000 after buying an additional 11,641 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Melco Resorts & Entertainment by 9.2% in the third quarter. Janus Henderson Group PLC now owns 2,128,578 shares of the company’s stock worth $45,020,000 after buying an additional 179,600 shares in the last quarter. 38.26% of the stock is currently owned by institutional investors and hedge funds.

MLCO stock opened at $16.97 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $8.39 billion, a P/E ratio of 18.45, a P/E/G ratio of 1.22 and a beta of 1.64. Melco Resorts & Entertainment Limited has a 1-year low of $15.33 and a 1-year high of $32.95.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its quarterly earnings data on Thursday, November 8th. The company reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.18). Melco Resorts & Entertainment had a return on equity of 11.89% and a net margin of 5.98%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the company posted $0.24 earnings per share. The firm’s revenue for the quarter was down 11.4% on a year-over-year basis. As a group, sell-side analysts predict that Melco Resorts & Entertainment Limited will post 1.07 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 29th. Shareholders of record on Monday, November 19th will be given a dividend of $0.1451 per share. This is a boost from Melco Resorts & Entertainment’s previous quarterly dividend of $0.15. This represents a $0.58 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Friday, November 16th. Melco Resorts & Entertainment’s dividend payout ratio (DPR) is presently 61.96%.

MLCO has been the topic of several research analyst reports. BidaskClub upgraded shares of Melco Resorts & Entertainment from a “strong sell” rating to a “sell” rating in a research report on Friday, November 16th. ValuEngine upgraded shares of Melco Resorts & Entertainment from a “strong sell” rating to a “sell” rating in a research report on Friday, November 16th. TheStreet cut shares of Melco Resorts & Entertainment from a “b-” rating to a “c+” rating in a research report on Tuesday, October 30th. HSBC set a $33.00 price objective on shares of Melco Resorts & Entertainment and gave the stock a “buy” rating in a research report on Tuesday, October 16th. Finally, Sanford C. Bernstein decreased their price objective on shares of Melco Resorts & Entertainment from $34.50 to $27.00 and set an “outperform” rating on the stock in a research report on Monday, September 17th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. Melco Resorts & Entertainment presently has a consensus rating of “Buy” and an average target price of $32.73.

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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.

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

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