Geode Capital Management LLC Grows Stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

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Geode Capital Management LLC increased its position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 4.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 972,075 shares of the company’s stock after buying an additional 40,510 shares during the period. Geode Capital Management LLC’s holdings in Melco Resorts & Entertainment were worth $16,965,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MLCO. Advisors Asset Management Inc. increased its stake in shares of Melco Resorts & Entertainment by 60.6% in the fourth quarter. Advisors Asset Management Inc. now owns 5,941 shares of the company’s stock worth $105,000 after acquiring an additional 2,242 shares during the period. TD Asset Management Inc. increased its stake in shares of Melco Resorts & Entertainment by 1.9% in the fourth quarter. TD Asset Management Inc. now owns 69,900 shares of the company’s stock worth $1,232,000 after acquiring an additional 1,300 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Melco Resorts & Entertainment in the fourth quarter worth $263,000. Commerzbank Aktiengesellschaft FI increased its stake in shares of Melco Resorts & Entertainment by 23.9% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 84,182 shares of the company’s stock worth $1,483,000 after acquiring an additional 16,259 shares during the period. Finally, Cerity Partners LLC increased its stake in shares of Melco Resorts & Entertainment by 14.5% in the fourth quarter. Cerity Partners LLC now owns 15,407 shares of the company’s stock worth $271,000 after acquiring an additional 1,951 shares during the period. Institutional investors and hedge funds own 33.36% of the company’s stock.

MLCO stock opened at $20.45 on Friday. The firm has a market cap of $10.13 billion, a P/E ratio of 22.98, a PEG ratio of 1.10 and a beta of 1.76. The company has a current ratio of 1.05, a quick ratio of 1.03 and a debt-to-equity ratio of 1.51. Melco Resorts & Entertainment Limited has a one year low of $15.33 and a one year high of $30.47.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.03. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.34 billion. Melco Resorts & Entertainment had a net margin of 6.00% and a return on equity of 13.47%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $0.32 earnings per share. Research analysts predict that Melco Resorts & Entertainment Limited will post 0.96 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Monday, May 20th were issued a dividend of $0.1551 per share. This represents a $0.62 annualized dividend and a yield of 3.03%. This is an increase from Melco Resorts & Entertainment’s previous quarterly dividend of $0.16. The ex-dividend date was Friday, May 17th. Melco Resorts & Entertainment’s dividend payout ratio (DPR) is presently 68.54%.

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

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About Melco Resorts & Entertainment

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.

Read More: What is net income?

Want to see what other hedge funds are holding MLCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Melco Resorts & Entertainment Limited (NASDAQ:MLCO).

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

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