Walleye Capital LLC Takes Position in Melco Resorts & Entertainment Limited $MLCO

Walleye Capital LLC purchased a new position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 437,837 shares of the company’s stock, valued at approximately $3,166,000. Walleye Capital LLC owned about 0.10% of Melco Resorts & Entertainment as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Nuveen LLC acquired a new position in shares of Melco Resorts & Entertainment during the first quarter valued at approximately $31,946,000. Arrowstreet Capital Limited Partnership increased its position in shares of Melco Resorts & Entertainment by 1,819.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 5,497,684 shares of the company’s stock worth $39,748,000 after purchasing an additional 5,211,263 shares in the last quarter. Brightlight Capital Management LP acquired a new position in Melco Resorts & Entertainment in the 1st quarter valued at $15,141,000. National Bank of Canada FI lifted its holdings in Melco Resorts & Entertainment by 18,441,414.3% in the 1st quarter. National Bank of Canada FI now owns 1,290,906 shares of the company’s stock valued at $6,803,000 after purchasing an additional 1,290,899 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Melco Resorts & Entertainment during the 1st quarter worth $6,461,000. 39.62% of the stock is currently owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Price Performance

Shares of NASDAQ MLCO opened at $8.78 on Monday. The company has a market capitalization of $3.69 billion, a P/E ratio of 33.77 and a beta of 0.64. The company has a 50 day simple moving average of $8.58 and a 200-day simple moving average of $8.40. Melco Resorts & Entertainment Limited has a 1 year low of $4.55 and a 1 year high of $10.15.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.10. Melco Resorts & Entertainment had a negative return on equity of 23.00% and a net margin of 2.06%.The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the business posted $0.06 earnings per share. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, research analysts expect that Melco Resorts & Entertainment Limited will post 0.16 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on MLCO shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Melco Resorts & Entertainment in a research report on Wednesday, October 8th. Zacks Research cut shares of Melco Resorts & Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 16th. JPMorgan Chase & Co. raised their target price on shares of Melco Resorts & Entertainment from $10.50 to $11.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Wall Street Zen upgraded Melco Resorts & Entertainment from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, CLSA upgraded Melco Resorts & Entertainment from a “hold” rating to an “outperform” rating in a research report on Wednesday, September 3rd. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $8.40.

Melco Resorts & Entertainment Company 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.