Sterling Capital Management LLC Purchases Shares of 21,377 Melco Resorts & Entertainment Ltd (MLCO)

Sterling Capital Management LLC purchased a new stake in Melco Resorts & Entertainment Ltd (NASDAQ:MLCO) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 21,377 shares of the company’s stock, valued at approximately $515,000.

Other large investors have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board acquired a new position in Melco Resorts & Entertainment in the third quarter valued at about $112,000. LS Investment Advisors LLC bought a new position in shares of Melco Resorts & Entertainment in the third quarter worth about $129,000. Nordea Investment Management AB bought a new position in shares of Melco Resorts & Entertainment in the third quarter worth about $136,000. Ladenburg Thalmann Financial Services Inc. bought a new position in shares of Melco Resorts & Entertainment in the third quarter worth about $173,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Melco Resorts & Entertainment in the third quarter worth about $193,000. Hedge funds and other institutional investors own 41.31% of the company’s stock.

Shares of Melco Resorts & Entertainment Ltd (MLCO) opened at $28.58 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.07 and a current ratio of 1.08. The firm has a market cap of $13,893.38, a P/E ratio of 33.62, a P/E/G ratio of 1.08 and a beta of 1.92. Melco Resorts & Entertainment Ltd has a 12 month low of $15.39 and a 12 month high of $29.05.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Tuesday, November 14th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Monday, November 13th. This is an increase from Melco Resorts & Entertainment’s previous quarterly dividend of $0.03. Melco Resorts & Entertainment’s dividend payout ratio is presently 56.45%.

MLCO has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. Instinet raised shares of Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $20.00 to $29.00 in a research note on Tuesday, September 19th. Nomura raised shares of Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $20.00 to $29.00 in a research note on Tuesday, September 19th. Roth Capital initiated coverage on shares of Melco Resorts & Entertainment in a research note on Wednesday, November 1st. They issued a “buy” rating and a $34.00 target price for the company. Finally, TheStreet raised shares of Melco Resorts & Entertainment from a “c+” rating to a “b” rating in a research note on Tuesday, November 21st. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $25.78.

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Melco Resorts & Entertainment Company Profile

Melco Resorts & Entertainment Limited, formerly Melco Crown Entertainment Limited, is a holding company. The Company, through its subsidiaries, develops, owns and operates casino gaming and entertainment casino resort facilities in Asia. It is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in over two geographic areas, which include Macau and the Philippines.

Institutional Ownership by Quarter for Melco Resorts & Entertainment (NASDAQ:MLCO)

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