PNC Financial Services Group Inc. Has $6.55 Million Position in Melco Resorts & Entertainment Limited (MLCO)

PNC Financial Services Group Inc. lifted its stake in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 3.9% during the third quarter, Holdings Channel reports. The fund owned 309,630 shares of the company’s stock after purchasing an additional 11,641 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Melco Resorts & Entertainment were worth $6,548,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC boosted its stake in shares of Melco Resorts & Entertainment by 1,935.3% during the second quarter. SG Americas Securities LLC now owns 431,244 shares of the company’s stock valued at $12,075,000 after acquiring an additional 410,056 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Melco Resorts & Entertainment during the second quarter valued at $386,000. Seven Eight Capital LP boosted its stake in shares of Melco Resorts & Entertainment by 31.4% during the third quarter. Seven Eight Capital LP now owns 105,959 shares of the company’s stock valued at $2,241,000 after acquiring an additional 25,300 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Melco Resorts & Entertainment during the second quarter valued at $11,066,000. Finally, Mount Yale Investment Advisors LLC boosted its stake in shares of Melco Resorts & Entertainment by 15.8% during the second quarter. Mount Yale Investment Advisors LLC now owns 86,224 shares of the company’s stock valued at $2,414,000 after acquiring an additional 11,759 shares during the last quarter. 36.24% of the stock is currently owned by institutional investors and hedge funds.

MLCO has been the topic of several recent analyst reports. HSBC set a $33.00 target price on Melco Resorts & Entertainment and gave the stock a “buy” rating in a research report on Tuesday, October 16th. BidaskClub upgraded Melco Resorts & Entertainment from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 22nd. ValuEngine upgraded Melco Resorts & Entertainment from a “strong sell” rating to a “sell” rating in a research report on Friday, November 16th. TheStreet downgraded Melco Resorts & Entertainment from a “b-” rating to a “c+” rating in a research report on Tuesday, October 30th. Finally, UBS Group downgraded Melco Resorts & Entertainment from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. Melco Resorts & Entertainment has an average rating of “Buy” and an average price target of $32.85.

NASDAQ MLCO opened at $18.07 on Monday. Melco Resorts & Entertainment Limited has a twelve month low of $15.33 and a twelve month high of $32.95. The stock has a market cap of $8.93 billion, a P/E ratio of 19.64, a price-to-earnings-growth ratio of 1.30 and a beta of 1.64. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 1.36.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its earnings results on Thursday, November 8th. The company reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.18). The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Melco Resorts & Entertainment had a return on equity of 11.89% and a net margin of 5.98%. The business’s quarterly revenue was down 11.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.24 earnings per share. On average, equities analysts anticipate that Melco Resorts & Entertainment Limited will post 1.07 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 29th. Stockholders of record on Monday, November 19th were issued a $0.1451 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 3.21%. This is an increase from Melco Resorts & Entertainment’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, November 16th. Melco Resorts & Entertainment’s dividend payout ratio (DPR) is 61.96%.

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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.

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

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