Toronto Dominion Bank Sells 8,000 Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO)

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Toronto Dominion Bank cut its holdings in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 28.7% during the second quarter, Holdings Channel.com reports. The firm owned 19,900 shares of the company’s stock after selling 8,000 shares during the period. Toronto Dominion Bank’s holdings in Melco Resorts & Entertainment were worth $432,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new position in Melco Resorts & Entertainment during the 2nd quarter worth approximately $48,000. Asahi Life Asset Management CO. LTD. acquired a new position in Melco Resorts & Entertainment during the 2nd quarter worth approximately $98,000. Atlas Capital Advisors LLC acquired a new position in shares of Melco Resorts & Entertainment in the 2nd quarter valued at $139,000. Advisors Asset Management Inc. boosted its holdings in shares of Melco Resorts & Entertainment by 19.4% in the 1st quarter. Advisors Asset Management Inc. now owns 7,094 shares of the company’s stock valued at $160,000 after buying an additional 1,153 shares in the last quarter. Finally, Almanack Investment Partners LLC. acquired a new position in shares of Melco Resorts & Entertainment in the 2nd quarter valued at $163,000. Hedge funds and other institutional investors own 35.69% of the company’s stock.

Several research analysts have recently issued reports on the stock. ValuEngine cut shares of Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, September 11th. UBS Group upped their target price on shares of Melco Resorts & Entertainment from $25.60 to $26.80 and gave the company a “buy” rating in a report on Friday, September 13th. Goldman Sachs Group set a $27.00 target price on shares of Melco Resorts & Entertainment and gave the company a “buy” rating in a report on Tuesday, May 28th. JPMorgan Chase & Co. lowered their target price on shares of Melco Resorts & Entertainment from $29.00 to $25.00 and set an “overweight” rating for the company in a report on Friday, September 6th. Finally, Zacks Investment Research upgraded shares of Melco Resorts & Entertainment from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Wednesday, August 28th. Two analysts have rated the stock with a sell rating and thirteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $25.29.

Melco Resorts & Entertainment stock traded down $0.01 during trading hours on Thursday, reaching $21.37. 40,639 shares of the stock were exchanged, compared to its average volume of 1,370,084. The stock has a market cap of $10.57 billion, a P/E ratio of 24.03, a P/E/G ratio of 0.89 and a beta of 1.86. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.80 and a current ratio of 0.82. Melco Resorts & Entertainment Limited has a 52-week low of $15.33 and a 52-week high of $26.97. The firm’s 50 day moving average is $20.72 and its 200 day moving average is $22.33.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.04. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.32 billion. Melco Resorts & Entertainment had a net margin of 6.55% and a return on equity of 14.53%. Melco Resorts & Entertainment’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.12 EPS. Equities research analysts expect that Melco Resorts & Entertainment Limited will post 1.1 EPS for the current fiscal year.

Melco Resorts & Entertainment 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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