Columbus Circle Investors Acquires 507,515 Shares of Melco Resorts & Entertainment Limited (MLCO)

Columbus Circle Investors lifted its holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 91.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,064,431 shares of the company’s stock after purchasing an additional 507,515 shares during the period. Columbus Circle Investors owned about 0.22% of Melco Resorts & Entertainment worth $30,847,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MLCO. Delpha Capital Management LLC bought a new position in shares of Melco Resorts & Entertainment in the 4th quarter worth approximately $183,000. Virtu Financial LLC bought a new position in shares of Melco Resorts & Entertainment in the 4th quarter worth approximately $200,000. Newman Dignan & Sheerar Inc. bought a new position in shares of Melco Resorts & Entertainment in the 4th quarter worth approximately $203,000. Wealthsource Partners LLC bought a new position in shares of Melco Resorts & Entertainment in the 4th quarter worth approximately $220,000. Finally, Claraphi Advisory Network LLC bought a new position in shares of Melco Resorts & Entertainment in the 4th quarter worth approximately $230,000. Hedge funds and other institutional investors own 41.32% of the company’s stock.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. BidaskClub cut shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research note on Wednesday. ValuEngine raised shares of Melco Resorts & Entertainment from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Finally, Goldman Sachs raised shares of Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating in a report on Sunday, February 4th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $31.97.

Melco Resorts & Entertainment opened at $31.12 on Friday, Marketbeat Ratings reports. The company has a market capitalization of $15.38 billion, a P/E ratio of 33.83, a PEG ratio of 1.94 and a beta of 1.54. Melco Resorts & Entertainment Limited has a 12-month low of $30.52 and a 12-month high of $31.19. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its earnings results on Thursday, May 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.07. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.38 billion. Melco Resorts & Entertainment had a net margin of 7.33% and a return on equity of 15.10%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.23 EPS. analysts forecast that Melco Resorts & Entertainment Limited will post 1.33 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 23rd. Investors of record on Monday, May 14th will be issued a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Friday, May 11th. Melco Resorts & Entertainment’s dividend payout ratio is 57.61%.

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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