LPL Financial LLC Decreases Stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

LPL Financial LLC reduced its stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 7.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,043 shares of the company’s stock after selling 5,389 shares during the period. LPL Financial LLC’s holdings in Melco Resorts & Entertainment were worth $1,281,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. San Francisco Sentry Investment Group CA purchased a new position in Melco Resorts & Entertainment in the 4th quarter worth approximately $78,000. Paloma Partners Management Co purchased a new position in Melco Resorts & Entertainment in the 3rd quarter worth approximately $176,000. Raymond James & Associates bought a new stake in shares of Melco Resorts & Entertainment in the 3rd quarter worth approximately $177,000. Guggenheim Capital LLC bought a new stake in shares of Melco Resorts & Entertainment in the 3rd quarter worth approximately $177,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Melco Resorts & Entertainment in the 3rd quarter worth approximately $222,000. 41.69% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ MLCO opened at $20.68 on Thursday. The company has a quick ratio of 1.66, a current ratio of 1.69 and a debt-to-equity ratio of 2.75. The stock’s 50 day moving average is $20.66 and its 200 day moving average is $18.13. Melco Resorts & Entertainment Limited has a twelve month low of $12.04 and a twelve month high of $23.65. The firm has a market capitalization of $9.86 billion, a PE ratio of -9.89, a P/E/G ratio of 135.39 and a beta of 1.76.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its earnings results on Thursday, February 25th. The company reported ($0.40) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.60) by $0.20. Melco Resorts & Entertainment had a negative return on equity of 45.84% and a negative net margin of 37.56%. The business had revenue of $528.00 million for the quarter, compared to the consensus estimate of $526.82 million. On average, research analysts anticipate that Melco Resorts & Entertainment Limited will post -2.7 earnings per share for the current year.

A number of equities research analysts have recently weighed in on the company. Credit Suisse Group lowered Melco Resorts & Entertainment from a “neutral” rating to an “underperform” rating and set a $14.00 price objective on the stock. in a research report on Tuesday, January 19th. CLSA upgraded Melco Resorts & Entertainment from an “underperform” rating to an “outperform” rating in a research report on Thursday, February 25th. Zacks Investment Research lowered Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a research report on Tuesday, January 5th. TheStreet upgraded Melco Resorts & Entertainment from a “d” rating to a “c-” rating in a research report on Monday, March 8th. Finally, Macquarie lowered Melco Resorts & Entertainment from an “outperform” rating to a “neutral” rating and set a $20.00 price target on the stock. in a research report on Thursday, January 7th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. Melco Resorts & Entertainment has an average rating of “Buy” and an average price target of $21.23.

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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