Melco Resorts & Entertainment Limited (MLCO) Holdings Raised by Clearbridge LLC

Clearbridge LLC boosted its position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 26.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 184,439 shares of the company’s stock after acquiring an additional 38,259 shares during the period. Clearbridge LLC’s holdings in Melco Resorts & Entertainment were worth $3,250,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Capital International Ltd. CA boosted its stake in Melco Resorts & Entertainment by 16.4% during the third quarter. Capital International Ltd. CA now owns 36,332 shares of the company’s stock worth $768,000 after buying an additional 5,123 shares during the period. Hanson & Doremus Investment Management boosted its stake in Melco Resorts & Entertainment by 7.1% during the fourth quarter. Hanson & Doremus Investment Management now owns 45,189 shares of the company’s stock worth $796,000 after buying an additional 2,991 shares during the period. Almanack Investment Partners LLC. purchased a new position in Melco Resorts & Entertainment during the fourth quarter worth $130,000. PM CAPITAL Ltd purchased a new position in Melco Resorts & Entertainment during the fourth quarter worth $1,391,000. Finally, Flowering Tree Investment Management Pte. Ltd. boosted its stake in Melco Resorts & Entertainment by 44.8% during the third quarter. Flowering Tree Investment Management Pte. Ltd. now owns 3,245,803 shares of the company’s stock worth $68,649,000 after buying an additional 1,003,934 shares during the period. Institutional investors own 33.01% of the company’s stock.

MLCO has been the subject of several recent analyst reports. Daiwa Capital Markets initiated coverage on shares of Melco Resorts & Entertainment in a research note on Wednesday, January 23rd. They set an “outperform” rating for the company. JPMorgan Chase & Co. lifted their price objective on shares of Melco Resorts & Entertainment to $24.00 in a research note on Wednesday, January 23rd. They noted that the move was a valuation call. BidaskClub raised shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research note on Tuesday, November 27th. CLSA raised shares of Melco Resorts & Entertainment from a “sell” rating to an “underperform” rating in a research note on Thursday, January 3rd. Finally, ValuEngine raised shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, December 20th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $28.14.

Shares of Melco Resorts & Entertainment stock opened at $22.38 on Friday. The stock has a market capitalization of $11.20 billion, a price-to-earnings ratio of 25.15, a PEG ratio of 1.27 and a beta of 1.62. The company has a quick ratio of 0.90, a current ratio of 0.92 and a debt-to-equity ratio of 1.43. Melco Resorts & Entertainment Limited has a one year low of $15.33 and a one year high of $32.95.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its earnings results on Tuesday, February 19th. The company reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.04. Melco Resorts & Entertainment had a net margin of 6.81% and a return on equity of 13.92%. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the company posted $0.17 earnings per share. The firm’s revenue was up 4.8% on a year-over-year basis. On average, sell-side analysts anticipate that Melco Resorts & Entertainment Limited will post 0.96 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Monday, March 4th were given a $0.155 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $0.62 dividend on an annualized basis and a yield of 2.77%. This is a positive change from Melco Resorts & Entertainment’s previous quarterly dividend of $0.15. Melco Resorts & Entertainment’s dividend payout ratio is currently 68.54%.

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About Melco Resorts & Entertainment

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.

See Also: Lock-Up Period Expiration

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

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