West Family Investments Inc. is a Melco Resorts & Entertainment Limited (NASDAQ: MLCO – get rating) during the third quarter, according to the latest disclosures to the Securities and Exchange Commission (SEC). The company purchased 12,848 shares of the company stock worth approximately $85,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Ronald Blue Trust Inc. purchased new shares in Melco Resorts & Entertainment worth approximately $30,000 in the second quarter. Quadrant Capital Group LLC raised his stake in Melco Resorts & Entertainment by 103.0% in the second quarter. Quadrant Capital Group LLC now owns 6,661 of his shares worth $38,000 after acquiring an additional 3,380 shares in the previous quarter. Arden Trust Co purchased new shares in Melco Resorts & Entertainment worth approximately $70,000 in the third quarter. Y Intercept Hong Kong Ltd purchased a new stake in Melco Resorts & Entertainment worth approximately $78,000 in the second quarter. Finally, XTX Topco Ltd purchased new shares in Melco Resorts & Entertainment worth approximately $110,000 in the first quarter. 39.70% of the shares are owned by hedge funds and other institutional investors.
Wall Street Analyst Predicts Growth
MLCO has been the subject of several recent analyst reports. Credit Suisse Group downgraded its shares in Melco Resorts & Entertainment from ‘outperforming’ to ‘neutral’ in a report on Monday, October 17. StockNews.com upgraded its shares in Melco Resorts & Entertainment to a sell rating in a report on Thursday, December 1. Finally, JPMorgan Chase & Co. upgraded Melco Resorts & Entertainment’s stock from a ‘neutral’ rating to an ‘overweight’ rating, with a price target of $7.00 to his $10.00, in a report on Monday, Nov. 28. I pulled it up. One of his investment analysts assigned a sell rating, two of him assigned a hold rating, and two of him assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average valuation of “pending” and a consensus price target of $10.75.
Melco Resorts & Entertainment deals drop 2.6%
NASDAQ: MLCO Opened Wednesday at $13.10. The company has a 50-day simple moving average of $10.92 and a 200-day simple moving average of $7.62. Melco Resorts & Entertainment Limited has a 12-month low of $4.06 and a 12-month high of $14.15. The company has a current ratio of 2.34, a quick ratio of 2.31 and a debt to equity ratio of 21.09.
Melco Resorts & Entertainment (NASDAQ: MLCO – get rating) last reported quarterly results on Wednesday, November 2nd. The company reported his earnings per share ($0.52) for the quarter, beating consensus expectations ($0.56) by $0.04. The business generated $241.84 million in revenue for the quarter, compared to analyst expectations of $305.79 million. Melco Resorts & Entertainment had a net profit margin of 56.15% and a return on equity of 182.94%. Equity analysts expect Melco Resorts & Entertainment Limited to post earnings per share of minus 2.05 for the current year.
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 with 500 gaming tables and 800 gaming machines. Approximately 1,400 hotel rooms and suites. A wet stage performance theater with approximately 2,000 seats. About 30 restaurants and bars, and 150 retail stores. Recreational and leisure facilities such as health clubs, fitness clubs, swimming pools, spas, salons, banquet and conference facilities.
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