Campbell & CO Investment Adviser LLC Makes New $75,000 Investment in Melco Resorts & Entertainment Limited $MLCO

Campbell & CO Investment Adviser LLC bought a new stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 10,380 shares of the company’s stock, valued at approximately $75,000.

A number of other hedge funds have also recently made changes to their positions in MLCO. Caitong International Asset Management Co. Ltd bought a new stake in shares of Melco Resorts & Entertainment during the first quarter worth about $34,000. FNY Investment Advisers LLC bought a new stake in Melco Resorts & Entertainment during the 2nd quarter worth approximately $38,000. Aigen Investment Management LP bought a new stake in Melco Resorts & Entertainment during the 1st quarter worth approximately $59,000. Solstein Capital LLC increased its position in Melco Resorts & Entertainment by 74.9% in the 2nd quarter. Solstein Capital LLC now owns 9,340 shares of the company’s stock valued at $68,000 after acquiring an additional 4,000 shares during the period. Finally, State of New Jersey Common Pension Fund D bought a new position in shares of Melco Resorts & Entertainment during the second quarter valued at $88,000. 39.62% of the stock is owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Price Performance

Shares of NASDAQ:MLCO opened at $9.00 on Wednesday. Melco Resorts & Entertainment Limited has a 1 year low of $4.55 and a 1 year high of $10.15. The business’s 50-day moving average is $8.76 and its 200-day moving average is $8.14. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 69.24 and a beta of 0.70.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its earnings results on Thursday, November 6th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.10. Melco Resorts & Entertainment had a negative return on equity of 18.47% and a net margin of 1.15%.The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the company posted $0.06 earnings per share. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. Analysts anticipate that Melco Resorts & Entertainment Limited will post 0.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MLCO shares. Citigroup boosted their price objective on shares of Melco Resorts & Entertainment from $11.00 to $11.50 and gave the stock a “buy” rating in a research note on Friday, August 1st. Zacks Research lowered Melco Resorts & Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 16th. Wall Street Zen raised Melco Resorts & Entertainment from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. JPMorgan Chase & Co. lifted their price objective on Melco Resorts & Entertainment from $10.50 to $11.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Finally, CLSA upgraded Melco Resorts & Entertainment from a “hold” rating to an “outperform” rating in a report on Wednesday, September 3rd. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.40.

Melco Resorts & Entertainment 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.