MBB Public Markets I LLC sells 267,092 shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

MBB Public Markets I LLC cut its stake in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO – Free Report) by 45.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 325,402 shares of the company’s stock after selling 267,092 shares during the period. MBB Public Markets I LLC’s holdings in Melco Resorts & Entertainment were worth $2,427,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. Eminence Capital LP boosted its stake in Melco Resorts & Entertainment by 14.0% in the second quarter. Eminence Capital LP now owns 17,502,002 shares of the company’s stock valued at $130,565,000 after acquiring an additional 2,154,509 shares during the last quarter. Solel Partners LP increased its position in Melco Resorts & Entertainment by 34.2% during the 2nd quarter. Solel Partners LP now owns 1,328,000 shares of the company’s stock valued at $9,907,000 after buying an additional 338,700 shares during the period. shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Melco Resorts & Entertainment by 22.8% in the second quarter. Marshall Wace LLP now owns 1,169,950 shares of the company’s stock worth $8,728,000 after buying an additional 217,520 shares during the period. Sei Investments Co. boosted its holdings in shares of Melco Resorts & Entertainment by 173.2% in the second quarter. Sei Investments Co. now owns 602,058 shares of the company’s stock worth $4,491,000 after buying an additional 381,653 shares during the period. Finally, Hsbc Holdings PLC raised its position in shares of Melco Resorts & Entertainment by 47.5% during the 2nd quarter. Hsbc Holdings PLC now owns 52,486 shares of the company’s stock worth $395,000 after buying another 16,901 shares in the last quarter. 39.62% of the shares are held by hedge funds and other institutional investors.

Analysts set new price targets

Several analysts recently weighed in on the company. JPMorgan Chase & Co. cut shares of Melco Resorts & Entertainment from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $10.00 to $7.00 in a research note on Thursday, July 18. Bank of America cut their price target on shares of Melco Resorts & Entertainment from $8.50 to $7.50 and set a “buy” rating for the company in a research report on Monday, August 12th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Melco Resorts & Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $9.82, according to MarketBeat.com.

Get the latest report on MLCO

Melco Resorts & Entertainment stocks rose 1.7%

NASDAQ MLCO opened at $7.70 on Friday. Melco Resorts & Entertainment Limited has a 52-week low of $4.78 and a 52-week high of $10.10. The company has a 50-day moving average price of $5.63 and a 200-day moving average price of $6.76. The firm has a market cap of $3.43 billion, a PE ratio of -18.33, a price-to-earnings-growth ratio of 1.00 and a beta of 1.03.

Melco Resorts & Entertainment (NASDAQ:MLCO – Get Free Report ) last announced its earnings results on Tuesday, August 13th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.05). The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. Melco Resorts & Entertainment had a negative net margin of 3.11% and a negative return on equity of 11.59%. The company’s quarterly revenue was up 22.3% year over year. During the same period in the previous year, the company earned ($0.02) earnings per share. On average, equities research analysts anticipate that Melco Resorts & Entertainment Limited will post 0.2 earnings per share for the current fiscal year.

Melco Resorts & Entertainment Company Profile

(Free Report)

Melco Resorts & Entertainment Limited, through its subsidiaries, develops, owns and operates gaming and entertainment casino facilities in Asia. Owns and operates City of Dreams, an integrated casino complex that has 500 gaming tables and 800 gaming machines; approximately 1,400 hotel rooms and suites; a wet 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, spas and salons, and banquet and meeting rooms.

Further reading

Want to see what other hedge funds own MLCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Melco Resorts & Entertainment Limited (NASDAQ:MLCO – Free Report).

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