Mckinley Capital Management LLC Delaware Has $1.07 Million Stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

Mckinley Capital Management LLC Delaware decreased its position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 3.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,498 shares of the company’s stock after selling 1,497 shares during the period. Mckinley Capital Management LLC Delaware’s holdings in Melco Resorts & Entertainment were worth $1,073,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Boston Partners lifted its stake in Melco Resorts & Entertainment by 650.4% in the fourth quarter. Boston Partners now owns 4,969,419 shares of the company’s stock worth $87,561,000 after purchasing an additional 4,307,173 shares during the last quarter. Coronation Fund Managers Ltd. bought a new stake in shares of Melco Resorts & Entertainment during the fourth quarter valued at approximately $66,986,000. Perpetual Ltd raised its stake in shares of Melco Resorts & Entertainment by 145.0% during the fourth quarter. Perpetual Ltd now owns 1,961,069 shares of the company’s stock valued at $34,358,000 after acquiring an additional 1,160,773 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of Melco Resorts & Entertainment by 56,184.1% during the third quarter. Clearbridge Investments LLC now owns 932,627 shares of the company’s stock valued at $19,725,000 after acquiring an additional 930,970 shares in the last quarter. Finally, Hardman Johnston Global Advisors LLC raised its stake in shares of Melco Resorts & Entertainment by 8.8% during the fourth quarter. Hardman Johnston Global Advisors LLC now owns 10,759,685 shares of the company’s stock valued at $189,586,000 after acquiring an additional 867,250 shares in the last quarter. Hedge funds and other institutional investors own 33.36% of the company’s stock.

Shares of Melco Resorts & Entertainment stock traded down $0.08 during trading hours on Wednesday, reaching $20.92. The stock had a trading volume of 1,596,237 shares, compared to its average volume of 2,759,382. The company has a market cap of $10.34 billion, a P/E ratio of 23.51, a price-to-earnings-growth ratio of 1.11 and a beta of 1.64. Melco Resorts & Entertainment Limited has a twelve month low of $15.33 and a twelve month high of $32.66. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.03 and a current ratio of 1.05.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Melco Resorts & Entertainment had a net margin of 6.00% and a return on equity of 13.47%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the firm posted $0.32 earnings per share. The company’s revenue was up 3.7% compared to the same quarter last year. Equities research analysts forecast that Melco Resorts & Entertainment Limited will post 0.94 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Monday, May 20th will be given a dividend of $0.1551 per share. This represents a $0.62 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Friday, May 17th. This is an increase from Melco Resorts & Entertainment’s previous quarterly dividend of $0.16. Melco Resorts & Entertainment’s dividend payout ratio is 68.54%.

Several brokerages recently issued reports on MLCO. BidaskClub raised shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a report on Tuesday, April 9th. Macquarie began coverage on shares of Melco Resorts & Entertainment in a report on Monday, April 8th. They set an “outperform” rating and a $25.10 price objective on the stock. Wolfe Research lowered shares of Melco Resorts & Entertainment from an “outperform” rating to a “peer perform” rating in a report on Wednesday, May 8th. Nomura lifted their price target on shares of Melco Resorts & Entertainment from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Finally, TheStreet raised shares of Melco Resorts & Entertainment from a “c+” rating to a “b” rating in a report on Wednesday, February 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $28.02.

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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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