SG Americas Securities LLC Grows Position in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

SG Americas Securities LLC boosted its stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 179.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 154,480 shares of the company's stock after purchasing an additional 99,276 shares during the period. SG Americas Securities LLC's holdings in Melco Resorts & Entertainment were worth $1,152,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new position in shares of Melco Resorts & Entertainment in the fourth quarter worth approximately $37,000. Russell Investments Group Ltd. bought a new stake in shares of Melco Resorts & Entertainment during the 1st quarter valued at $56,000. Greenleaf Trust purchased a new stake in shares of Melco Resorts & Entertainment in the 4th quarter worth $92,000. Quadrant Capital Group LLC raised its holdings in Melco Resorts & Entertainment by 15.4% in the 4th quarter. Quadrant Capital Group LLC now owns 10,368 shares of the company's stock worth $92,000 after purchasing an additional 1,386 shares during the period. Finally, Pitcairn Co. purchased a new position in Melco Resorts & Entertainment during the first quarter valued at $80,000. 39.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MLCO shares. Susquehanna decreased their price objective on Melco Resorts & Entertainment from $15.00 to $11.00 and set a "positive" rating on the stock in a research note on Monday, April 29th. Morgan Stanley upgraded shares of Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $8.30 to $9.60 in a research report on Monday, May 6th. 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 report on Monday, August 12th. JPMorgan Chase & Co. cut shares of Melco Resorts & Entertainment from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $10.00 to $7.00 in a research note on Thursday, July 18th. Finally, Citigroup increased their price target on Melco Resorts & Entertainment from $13.75 to $14.00 and gave the stock a "buy" rating in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $9.82.

Melco Resorts & Entertainment Price Performance

Shares of MLCO stock traded up $0.02 during mid-day trading on Friday, hitting $5.20. The company had a trading volume of 9,392,698 shares, compared to its average volume of 3,348,998. The stock's 50 day moving average price is $6.58 and its 200-day moving average price is $7.29. Melco Resorts & Entertainment Limited has a 52-week low of $4.78 and a 52-week high of $11.43. The company has a market capitalization of $2.31 billion, a P/E ratio of -12.38, a P/E/G ratio of 0.46 and a beta of 1.04.

Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last announced its quarterly 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). The company had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.16 billion. Melco Resorts & Entertainment had a negative return on equity of 7.61% and a negative net margin of 4.34%. The firm's revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.02) EPS. On average, equities research analysts expect that Melco Resorts & Entertainment Limited will post 0.25 earnings per share 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 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.