6,405 Shares in Melco Resorts & Entertainment Limited $MLCO Acquired by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd bought a new position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 6,405 shares of the company’s stock, valued at approximately $34,000.

Other large investors also recently modified their holdings of the company. Brown Advisory Inc. acquired a new stake in shares of Melco Resorts & Entertainment during the 1st quarter worth $53,000. Aigen Investment Management LP acquired a new stake in shares of Melco Resorts & Entertainment during the 1st quarter worth $59,000. GAMMA Investing LLC grew its holdings in shares of Melco Resorts & Entertainment by 88.1% during the 1st quarter. GAMMA Investing LLC now owns 14,171 shares of the company’s stock worth $75,000 after purchasing an additional 6,638 shares in the last quarter. US Bancorp DE grew its holdings in shares of Melco Resorts & Entertainment by 294.1% during the 1st quarter. US Bancorp DE now owns 20,874 shares of the company’s stock worth $110,000 after purchasing an additional 15,578 shares in the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of Melco Resorts & Entertainment during the 1st quarter worth $113,000. 39.62% of the stock is owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Stock Up 0.6%

Shares of MLCO stock opened at $8.57 on Monday. Melco Resorts & Entertainment Limited has a twelve month low of $4.55 and a twelve month high of $9.16. The company has a market cap of $3.60 billion, a P/E ratio of 65.93 and a beta of 0.83. The business has a fifty day simple moving average of $8.04 and a 200 day simple moving average of $6.44.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.14. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.20 billion. Melco Resorts & Entertainment had a negative return on equity of 18.47% and a net margin of 1.15%. Melco Resorts & Entertainment’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.05 EPS. As a group, equities research analysts anticipate that Melco Resorts & Entertainment Limited will post 0.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. 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 increased their target price on Melco Resorts & Entertainment from $8.00 to $10.00 and gave the stock a “positive” rating in a report on Wednesday, July 30th. Wall Street Zen upgraded Melco Resorts & Entertainment from a “hold” rating to a “buy” rating in a research report on Monday, July 7th. Citigroup upped their price objective on Melco Resorts & Entertainment from $11.00 to $11.50 and gave the stock a “buy” rating in a research report on Friday, August 1st. Finally, Bank of America upped their price objective on Melco Resorts & Entertainment from $5.70 to $6.60 and gave the stock a “neutral” rating in a research report on Tuesday, May 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $8.15.

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.