Centiva Capital LP Buys New Stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Centiva Capital LP bought a new stake in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) during the 4th quarter, Holdings Channel reports. The firm bought 79,821 shares of the company’s stock, valued at approximately $462,000.

Other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its stake in shares of Melco Resorts & Entertainment by 8.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 50,215 shares of the company’s stock valued at $291,000 after purchasing an additional 3,873 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Melco Resorts & Entertainment by 140.7% during the 4th quarter. GAMMA Investing LLC now owns 7,533 shares of the company’s stock worth $44,000 after buying an additional 4,403 shares in the last quarter. Samalin Investment Counsel LLC raised its position in shares of Melco Resorts & Entertainment by 11.6% during the 4th quarter. Samalin Investment Counsel LLC now owns 96,273 shares of the company’s stock worth $557,000 after buying an additional 10,000 shares in the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Melco Resorts & Entertainment in the 4th quarter worth approximately $58,000. Finally, Mariner LLC boosted its holdings in shares of Melco Resorts & Entertainment by 12.3% in the fourth quarter. Mariner LLC now owns 95,939 shares of the company’s stock valued at $555,000 after acquiring an additional 10,491 shares in the last quarter. Institutional investors and hedge funds own 39.62% of the company’s stock.

Melco Resorts & Entertainment Trading Up 2.1 %

Shares of NASDAQ MLCO opened at $5.97 on Friday. The firm has a market capitalization of $2.54 billion, a PE ratio of -27.14, a PEG ratio of 0.63 and a beta of 0.71. Melco Resorts & Entertainment Limited has a one year low of $4.55 and a one year high of $8.90. The business has a 50-day moving average price of $5.26 and a two-hundred day moving average price of $5.78.

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

Wall Street Analyst Weigh In

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

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.