US Bancorp DE Sells 208,952 Shares of Melco Resorts & Entertainment Limited (MLCO)

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US Bancorp DE cut its holdings in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 35.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 377,745 shares of the company’s stock after selling 208,952 shares during the quarter. US Bancorp DE’s holdings in Melco Resorts & Entertainment were worth $7,989,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. FNY Investment Advisers LLC acquired a new position in Melco Resorts & Entertainment during the second quarter worth about $201,000. Rothschild Investment Corp IL acquired a new position in Melco Resorts & Entertainment during the second quarter worth about $202,000. Lucia Wealth Services LLC acquired a new position in Melco Resorts & Entertainment during the second quarter worth about $210,000. First Hawaiian Bank acquired a new position in Melco Resorts & Entertainment during the third quarter worth about $163,000. Finally, USA Financial Portformulas Corp acquired a new position in Melco Resorts & Entertainment during the third quarter worth about $230,000. Hedge funds and other institutional investors own 39.38% of the company’s stock.

Shares of MLCO stock opened at $15.60 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 1.05. Melco Resorts & Entertainment Limited has a 12 month low of $15.33 and a 12 month high of $32.95. The stock has a market cap of $8.98 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 1.53 and a beta of 1.64.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its earnings results on Thursday, November 8th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.18). Melco Resorts & Entertainment had a return on equity of 15.47% and a net margin of 7.83%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the firm earned $0.24 earnings per share. Melco Resorts & Entertainment’s revenue for the quarter was down 11.4% on a year-over-year basis. On average, research analysts anticipate that Melco Resorts & Entertainment Limited will post 0.92 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 29th. Shareholders of record on Monday, November 19th will be paid a dividend of $0.1451 per share. The ex-dividend date of this dividend is Friday, November 16th. This is an increase from Melco Resorts & Entertainment’s previous quarterly dividend of $0.15. This represents a $0.58 dividend on an annualized basis and a yield of 3.72%. Melco Resorts & Entertainment’s payout ratio is 61.96%.

A number of equities analysts recently weighed in on the stock. BidaskClub lowered shares of Melco Resorts & Entertainment from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 11th. Zacks Investment Research upgraded shares of Melco Resorts & Entertainment from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 26th. ValuEngine lowered shares of Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a research report on Friday, September 7th. Sanford C. Bernstein lowered their price target on shares of Melco Resorts & Entertainment from $34.50 to $27.00 and set an “outperform” rating on the stock in a research report on Monday, September 17th. They noted that the move was a valuation call. Finally, UBS Group downgraded shares of Melco Resorts & Entertainment from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 12th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. Melco Resorts & Entertainment presently has an average rating of “Buy” and a consensus price target of $32.73.

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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.

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

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