Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. cut its holdings in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 39.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 615,831 shares of the company’s stock after selling 393,163 shares during the period. Goldman Sachs Group Inc. owned 0.13% of Melco Resorts & Entertainment worth $12,261,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. increased its position in Melco Resorts & Entertainment by 17.5% during the first quarter. Russell Investments Group Ltd. now owns 505,105 shares of the company’s stock worth $10,055,000 after purchasing an additional 75,377 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of Melco Resorts & Entertainment by 24.2% during the 4th quarter. Stifel Financial Corp now owns 156,672 shares of the company’s stock worth $2,906,000 after buying an additional 30,575 shares during the last quarter. Tobam raised its position in shares of Melco Resorts & Entertainment by 6.8% in the 1st quarter. Tobam now owns 494,048 shares of the company’s stock worth $9,836,000 after buying an additional 31,497 shares during the period. Toronto Dominion Bank boosted its holdings in Melco Resorts & Entertainment by 993.6% in the first quarter. Toronto Dominion Bank now owns 88,312 shares of the company’s stock valued at $1,759,000 after acquiring an additional 80,237 shares during the last quarter. Finally, Westpac Banking Corp grew its position in Melco Resorts & Entertainment by 2.5% during the first quarter. Westpac Banking Corp now owns 57,561 shares of the company’s stock valued at $1,146,000 after acquiring an additional 1,400 shares during the period. Institutional investors own 38.30% of the company’s stock.

Several equities analysts have recently weighed in on MLCO shares. HSBC lowered Melco Resorts & Entertainment from a “buy” rating to a “hold” rating and reduced their price objective for the company from $21.10 to $16.90 in a research note on Thursday, July 15th. Morgan Stanley lowered shares of Melco Resorts & Entertainment from an “overweight” rating to an “equal weight” rating and set a $17.00 price objective for the company. in a research report on Monday, May 24th. Zacks Investment Research lowered shares of Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a report on Friday, June 11th. Finally, TheStreet cut shares of Melco Resorts & Entertainment from a “c-” rating to a “d+” rating in a research report on Monday, May 24th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Melco Resorts & Entertainment currently has a consensus rating of “Hold” and an average price target of $20.41.

Shares of MLCO stock opened at $15.19 on Thursday. The company has a debt-to-equity ratio of 4.00, a current ratio of 1.89 and a quick ratio of 1.85. The business has a fifty day moving average price of $16.71. The firm has a market cap of $7.27 billion, a price-to-earnings ratio of -6.38 and a beta of 1.76. Melco Resorts & Entertainment Limited has a 12 month low of $14.28 and a 12 month high of $23.65.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its quarterly earnings results on Wednesday, April 28th. The company reported ($0.49) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.13). Melco Resorts & Entertainment had a negative return on equity of 54.96% and a negative net margin of 78.87%. The business had revenue of $518.90 million during the quarter, compared to analyst estimates of $704.33 million. During the same quarter last year, the firm posted ($0.76) EPS. The company’s revenue was down 36.0% compared to the same quarter last year. Research analysts predict that Melco Resorts & Entertainment Limited will post -0.7 EPS 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.

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Institutional Ownership by Quarter for Melco Resorts & Entertainment (NASDAQ:MLCO)

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