New York State Common Retirement Fund Has $12.88 Million Stock Holdings in Melco Resorts & Entertainment Limited $MLCO

New York State Common Retirement Fund decreased its holdings in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 19.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,405,042 shares of the company’s stock after selling 342,679 shares during the period. New York State Common Retirement Fund owned about 0.33% of Melco Resorts & Entertainment worth $12,884,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MLCO. Arrowstreet Capital Limited Partnership raised its holdings in shares of Melco Resorts & Entertainment by 1,819.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,497,684 shares of the company’s stock worth $39,748,000 after buying an additional 5,211,263 shares in the last quarter. Balyasny Asset Management L.P. grew its position in Melco Resorts & Entertainment by 526.0% in the second quarter. Balyasny Asset Management L.P. now owns 1,537,034 shares of the company’s stock valued at $11,113,000 after acquiring an additional 1,291,495 shares during the period. Hudson Bay Capital Management LP grew its position in Melco Resorts & Entertainment by 271.3% in the second quarter. Hudson Bay Capital Management LP now owns 1,473,502 shares of the company’s stock valued at $10,653,000 after acquiring an additional 1,076,606 shares during the period. Goldman Sachs Group Inc. raised its stake in Melco Resorts & Entertainment by 16.4% during the first quarter. Goldman Sachs Group Inc. now owns 6,015,200 shares of the company’s stock worth $31,700,000 after acquiring an additional 846,504 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Melco Resorts & Entertainment by 69.3% during the first quarter. Millennium Management LLC now owns 1,915,978 shares of the company’s stock valued at $10,097,000 after acquiring an additional 784,403 shares during the period. 39.62% of the stock is owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Stock Performance

NASDAQ:MLCO opened at $6.24 on Tuesday. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 24.00 and a beta of 0.63. The stock’s fifty day moving average price is $7.55 and its two-hundred day moving average price is $8.43. Melco Resorts & Entertainment Limited has a 52-week low of $4.55 and a 52-week high of $10.15.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released 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. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.28 billion. Melco Resorts & Entertainment had a negative return on equity of 23.00% and a net margin of 2.06%.The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.06 earnings per share. On average, equities analysts predict that Melco Resorts & Entertainment Limited will post 0.16 EPS for the current fiscal year.

Analyst Ratings Changes

MLCO has been the topic of several analyst reports. Wall Street Zen lowered shares of Melco Resorts & Entertainment from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 27th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $7.70 price target (down from $11.00) on shares of Melco Resorts & Entertainment in a research report on Friday, January 16th. Texas Capital raised shares of Melco Resorts & Entertainment to a “strong-buy” rating in a report on Friday, January 23rd. Zacks Research cut shares of Melco Resorts & Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 16th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Melco Resorts & Entertainment in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Melco Resorts & Entertainment currently has an average rating of “Hold” and a consensus price target of $7.85.

Melco Resorts & Entertainment Company Profile

Melco Resorts & Entertainment Limited (NASDAQ: MLCO) is a developer, owner and operator of integrated resort destinations in Asia and Europe. The company’s portfolio spans casino gaming, hotel accommodations, retail, dining and entertainment facilities. Melco’s properties feature a mix of luxury hotels, award-winning restaurants, high-limit gaming salons and entertainment venues, catering to a broad range of leisure and business travelers.

In Macau, Melco owns and operates flagship properties including City of Dreams Macau, Altira Macau and Studio City.