Headlands Technologies LLC Invests $56,000 in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Headlands Technologies LLC bought a new stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,570 shares of the company’s stock, valued at approximately $56,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MLCO. ARGA Investment Management LP boosted its position in shares of Melco Resorts & Entertainment by 6.1% during the 1st quarter. ARGA Investment Management LP now owns 29,336,228 shares of the company’s stock valued at $211,514,000 after acquiring an additional 1,695,442 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Melco Resorts & Entertainment by 22.6% in the 1st quarter. Capital Research Global Investors now owns 21,460,223 shares of the company’s stock valued at $154,728,000 after purchasing an additional 3,958,998 shares during the period. Coronation Fund Managers Ltd. raised its holdings in shares of Melco Resorts & Entertainment by 16.2% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 15,500,865 shares of the company’s stock worth $115,636,000 after buying an additional 2,166,524 shares in the last quarter. Capital World Investors boosted its stake in Melco Resorts & Entertainment by 3.2% in the 1st quarter. Capital World Investors now owns 13,464,508 shares of the company’s stock valued at $97,079,000 after buying an additional 412,025 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Melco Resorts & Entertainment by 6.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,715,440 shares of the company’s stock worth $50,696,000 after purchasing an additional 366,031 shares in the last quarter. 39.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

MLCO has been the topic of several research analyst reports. Bank of America decreased their price objective on shares of Melco Resorts & Entertainment from $8.50 to $7.50 and set a “buy” rating on the stock in a research note on Monday, August 12th. JPMorgan Chase & Co. cut Melco Resorts & Entertainment from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $10.00 to $7.00 in a report on Thursday, July 18th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Melco Resorts & Entertainment has an average rating of “Moderate Buy” and a consensus price target of $9.82.

Melco Resorts & Entertainment Trading Down 1.8 %

Shares of MLCO stock opened at $5.61 on Tuesday. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of -13.36, a PEG ratio of 0.91 and a beta of 1.03. The firm’s 50 day moving average is $5.65 and its 200-day moving average is $6.82. Melco Resorts & Entertainment Limited has a 1 year low of $4.78 and a 1 year high of $10.69.

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