Melco Resorts & Entertainment Limited (MLCO) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

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Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 9.2% in the 2nd quarter, Holdings Channel reports. The firm owned 147,730 shares of the company’s stock after buying an additional 12,500 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Melco Resorts & Entertainment were worth $4,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Financial Gravity Wealth Inc. acquired a new position in shares of Melco Resorts & Entertainment in the 1st quarter valued at $103,000. Blackhawk Capital Partners LLC. acquired a new position in shares of Melco Resorts & Entertainment in the 1st quarter valued at $136,000. FNY Investment Advisers LLC acquired a new position in shares of Melco Resorts & Entertainment in the 2nd quarter valued at $201,000. Rothschild Investment Corp IL acquired a new position in shares of Melco Resorts & Entertainment in the 2nd quarter valued at $202,000. Finally, Winfield Associates Inc. acquired a new position in shares of Melco Resorts & Entertainment in the 1st quarter valued at $203,000. Hedge funds and other institutional investors own 39.48% of the company’s stock.

Shares of Melco Resorts & Entertainment stock opened at $22.10 on Friday. The stock has a market cap of $11.16 billion, a P/E ratio of 24.02, a PEG ratio of 1.64 and a beta of 1.45. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 1.05. Melco Resorts & Entertainment Limited has a 12-month low of $19.99 and a 12-month high of $32.95.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its earnings results on Tuesday, July 24th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.05). The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.31 billion. Melco Resorts & Entertainment had a return on equity of 15.47% and a net margin of 7.83%. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.07 EPS. equities research analysts forecast that Melco Resorts & Entertainment Limited will post 1.15 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 15th. Shareholders of record on Monday, August 6th were issued a dividend of $0.145 per share. The ex-dividend date of this dividend was Friday, August 3rd. This represents a $0.58 dividend on an annualized basis and a yield of 2.62%. This is a positive change from Melco Resorts & Entertainment’s previous quarterly dividend of $0.14. Melco Resorts & Entertainment’s dividend payout ratio is currently 61.96%.

A number of brokerages have recently issued reports on MLCO. Zacks Investment Research upgraded shares of Melco Resorts & Entertainment from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 26th. BidaskClub cut shares of Melco Resorts & Entertainment from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 11th. Wolfe Research upgraded shares of Melco Resorts & Entertainment from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 10th. Finally, ValuEngine cut shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research report on Thursday, June 7th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $33.16.

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.

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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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