SG Americas Securities LLC Sells 18,387 Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

SG Americas Securities LLC cut its position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 11.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 136,093 shares of the company’s stock after selling 18,387 shares during the quarter. SG Americas Securities LLC’s holdings in Melco Resorts & Entertainment were worth $1,060,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Ridgewood Investments LLC bought a new stake in Melco Resorts & Entertainment in the 2nd quarter valued at about $42,000. Blue Trust Inc. grew its holdings in shares of Melco Resorts & Entertainment by 243.4% during the 2nd quarter. Blue Trust Inc. now owns 7,324 shares of the company’s stock worth $53,000 after purchasing an additional 5,191 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Melco Resorts & Entertainment in the second quarter worth $56,000. Russell Investments Group Ltd. acquired a new position in Melco Resorts & Entertainment in the first quarter valued at about $56,000. Finally, Pitcairn Co. acquired a new stake in Melco Resorts & Entertainment during the first quarter worth about $80,000. Institutional investors own 39.62% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MLCO shares. Bank of America reduced their price target on shares of Melco Resorts & Entertainment from $8.50 to $7.50 and set a “buy” rating on the stock in a research report on Monday, August 12th. JPMorgan Chase & Co. downgraded Melco Resorts & Entertainment from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $10.00 to $7.00 in a research report on Thursday, July 18th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Melco Resorts & Entertainment presently has a consensus rating of “Moderate Buy” and an average target price of $9.82.

Melco Resorts & Entertainment Price Performance

Melco Resorts & Entertainment stock opened at $7.85 on Friday. The stock’s 50 day moving average is $6.04 and its 200 day moving average is $6.82. Melco Resorts & Entertainment Limited has a one year low of $4.78 and a one year high of $9.56. The firm has a market cap of $3.49 billion, a P/E ratio of -18.69, a P/E/G ratio of 1.00 and a beta of 1.06.

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

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.