MQS Management LLC Invests $118,000 in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

MQS Management LLC purchased a new position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 16,321 shares of the company’s stock, valued at approximately $118,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quadrant Capital Group LLC boosted its holdings in Melco Resorts & Entertainment by 15.4% in the fourth quarter. Quadrant Capital Group LLC now owns 10,368 shares of the company’s stock valued at $92,000 after purchasing an additional 1,386 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in Melco Resorts & Entertainment by 2.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 116,620 shares of the company’s stock valued at $1,034,000 after purchasing an additional 2,700 shares during the period. Bleakley Financial Group LLC boosted its holdings in Melco Resorts & Entertainment by 1.1% in the first quarter. Bleakley Financial Group LLC now owns 264,989 shares of the company’s stock valued at $1,911,000 after purchasing an additional 2,961 shares during the period. Tobam boosted its holdings in Melco Resorts & Entertainment by 38.5% in the fourth quarter. Tobam now owns 13,728 shares of the company’s stock valued at $122,000 after purchasing an additional 3,818 shares during the period. Finally, GAMMA Investing LLC purchased a new stake in Melco Resorts & Entertainment during the 4th quarter worth about $37,000. 39.62% of the stock is currently owned by hedge funds and other institutional investors.

Melco Resorts & Entertainment Stock Performance

MLCO stock traded up $0.02 on Thursday, reaching $5.83. The company had a trading volume of 2,019,584 shares, compared to its average volume of 3,087,887. Melco Resorts & Entertainment Limited has a 1 year low of $5.67 and a 1 year high of $13.91. The company’s fifty day moving average is $7.47 and its 200 day moving average is $7.59. The company has a market cap of $2.59 billion, a P/E ratio of -13.88, a PEG ratio of 0.53 and a beta of 1.04.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. Melco Resorts & Entertainment had a negative return on equity of 7.61% and a negative net margin of 4.34%. Melco Resorts & Entertainment’s revenue was up 55.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.14) EPS. On average, sell-side analysts predict that Melco Resorts & Entertainment Limited will post 0.25 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Susquehanna decreased their price target on Melco Resorts & Entertainment from $15.00 to $11.00 and set a “positive” rating for the company in a report on Monday, April 29th. Morgan Stanley upgraded Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $8.30 to $9.60 in a research report on Monday, May 6th. StockNews.com upgraded Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research report on Friday, April 5th. Citigroup boosted their price target on Melco Resorts & Entertainment from $13.75 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Bank of America dropped their price target on Melco Resorts & Entertainment from $10.40 to $8.50 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.02.

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.