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

US Bancorp DE lessened its holdings in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 35.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 377,745 shares of the company’s stock after selling 208,952 shares during the period. US Bancorp DE owned approximately 0.08% of Melco Resorts & Entertainment worth $7,989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. First Hawaiian Bank purchased a new position in shares of Melco Resorts & Entertainment during the third quarter worth $163,000. FNY Investment Advisers LLC purchased a new position in shares of Melco Resorts & Entertainment during the second quarter worth $201,000. Sumitomo Life Insurance Co. purchased a new position in shares of Melco Resorts & Entertainment during the third quarter worth $201,000. Rothschild Investment Corp IL purchased a new position in shares of Melco Resorts & Entertainment during the second quarter worth $202,000. Finally, Lucia Wealth Services LLC purchased a new position in shares of Melco Resorts & Entertainment during the second quarter worth $210,000. 39.38% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently issued reports on MLCO shares. Zacks Investment Research cut shares of Melco Resorts & Entertainment from a “hold” rating to a “strong sell” rating in a report on Sunday, July 15th. BidaskClub raised shares of Melco Resorts & Entertainment from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 22nd. HSBC set a $33.00 price target on shares of Melco Resorts & Entertainment and gave the company a “buy” rating in a research report on Tuesday, October 16th. Bank of America restated a “buy” rating and set a $35.10 price target (up previously from $34.40) on shares of Melco Resorts & Entertainment in a research report on Tuesday, July 24th. Finally, ValuEngine upgraded shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. Two 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 has a consensus rating of “Buy” and a consensus price target of $32.73.

MLCO stock opened at $15.60 on Friday. The firm has a market cap of $8.98 billion, a P/E ratio of 16.96, a PEG ratio of 1.53 and a beta of 1.64. 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 one year low of $15.33 and a one year high of $32.95.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its quarterly earnings results on Thursday, November 8th. The company reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.18). The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.34 billion. Melco Resorts & Entertainment had a net margin of 7.83% and a return on equity of 15.47%. The firm’s quarterly revenue was down 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.24 EPS. Research analysts predict that Melco Resorts & Entertainment Limited will post 0.92 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 29th. Investors of record on Monday, November 19th will be given a dividend of $0.1451 per share. This represents a $0.58 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend is Friday, November 16th. This is a positive change from Melco Resorts & Entertainment’s previous quarterly dividend of $0.15. Melco Resorts & Entertainment’s dividend payout ratio (DPR) is currently 61.96%.

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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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