Twinbeech Capital LP Has $1.27 Million Stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Twinbeech Capital LP lifted its stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 2,039.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 219,336 shares of the company’s stock after acquiring an additional 209,084 shares during the period. Twinbeech Capital LP owned 0.05% of Melco Resorts & Entertainment worth $1,270,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in MLCO. Patriot Financial Group Insurance Agency LLC acquired a new position in Melco Resorts & Entertainment during the fourth quarter valued at approximately $58,000. Wealthspire Advisors LLC acquired a new position in Melco Resorts & Entertainment in the 4th quarter valued at $145,000. Cantor Fitzgerald L. P. acquired a new position in Melco Resorts & Entertainment in the 4th quarter valued at $145,000. Tower Research Capital LLC TRC raised its holdings in Melco Resorts & Entertainment by 546.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 26,460 shares of the company’s stock worth $153,000 after acquiring an additional 22,370 shares during the period. Finally, Virtu Financial LLC acquired a new position in Melco Resorts & Entertainment during the 4th quarter worth $167,000. 39.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MLCO has been the topic of several research analyst reports. Bank of America raised their price target on Melco Resorts & Entertainment from $5.70 to $6.60 and gave the company a “neutral” rating in a research report on Tuesday. Morgan Stanley raised Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $7.50 to $6.70 in a report on Monday, March 3rd. UBS Group lowered Melco Resorts & Entertainment from a “buy” rating to a “sell” rating and set a $4.60 price target for the company. in a report on Wednesday, April 30th. Citigroup raised Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and set a $6.25 price objective for the company in a research report on Thursday, April 10th. Finally, Susquehanna dropped their target price on shares of Melco Resorts & Entertainment from $10.00 to $9.00 and set a “positive” rating on the stock in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.69.

Melco Resorts & Entertainment Stock Down 0.5%

Melco Resorts & Entertainment stock opened at $6.15 on Thursday. The business has a 50 day moving average price of $5.38 and a two-hundred day moving average price of $5.76. Melco Resorts & Entertainment Limited has a 12 month low of $4.55 and a 12 month high of $8.90. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of -27.95, a price-to-earnings-growth ratio of 0.63 and a beta of 0.71.

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

Melco Resorts & Entertainment Company 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.