Capital Research & Management Co has recently announced that it has increased stake in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 6.54%. After grabbing 16.3 million shares, the institutional investor is now in possession of 1.0 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 3.68% having worth around $222.02 million. Moreover, Citadel Advisors LLC increased its share by 0.62 million to have a control over 10.59 million shares. And Eminence Capital LP raised its holdings to 0.79 million shares by acquiring 8.72 million shares or 1.97% of the stake.
Melco Resorts & Entertainment Limited (MLCO) concluded trading on 09/14/23 at a closing price of $10.30, with 3.96 million shares of worth about $40.83 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -10.98% during that period and on Thursday the price saw a gain of about 1.88%. Currently the company’s common shares owned by public are about 436.79M shares, out of which, 147.74M shares are available for trading.
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American Funds Small Cap World Fu, Vanguard International Value Fund, and CREF Stock Account are the top 3 mutual funds which are holding stakes in Melco Resorts & Entertainment Limited American Funds Small Cap World Fu is currently holding 19.75 million shares of worth totaling $269.03 million. The company recently came buying 1.92 million shares which brought its stake up to 4.46% of the company’s outstanding shares. CREF Stock Account, after buying 3.6 million shares, have now control over 0.81% of the stake in the company. It holds 0.0 shares of worth $49.09 million.
Melco Resorts & Entertainment Limited (NASDAQ: MLCO) started trading at $10.20, above $0.09 from concluding price of the previous day. However, the stock later moved at a day high price of 10.57, or with a gain of 1.88%. Stock saw a price change of 0.59% in past 5 days and over the past one month there was a price change of -8.36%. Year-to-date (YTD), MLCO shares are showing a performance of -10.43% which increased to 87.61% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $4.72 but also hit the highest price of $14.45 during that period. The average intraday trading volume for Melco Resorts & Entertainment Limited shares is 2.81 million. The stock is currently trading -4.29% below its 20-day simple moving average (SMA20), while that difference is down -14.09% for SMA50 and it goes to -15.55% lower than SMA200.
Capital Research & Management Co acquired 16.3 million shares of Melco Resorts & Entertainment Limited having value of about $222.02 million. Data submitted at the U.S SEC by Capital Research & Management Co revealed that the firm now holds 1.0 million shares in the company valued at close to $10300000.0, or have control over 6.54% stake in the company. Melco Resorts & Entertainment Limited (NASDAQ: MLCO) currently have 436.79M outstanding shares and institutions hold larger chunk of about 43.40% of that. Holding of mutual funds in the company is about 15.01% while other institutional holders and individual stake holders have control over 25.66% and — of the stake respectively.
The stock has a current market capitalization of $4.54B and its 3Y-monthly beta is at 1.26. It has posted earnings per share of -$1.33 in the same period. It has Quick Ratio of 1.40. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for MLCO, volatility over the week remained 2.81% while standing at 3.10% over the month.
Analysts are in expectations that Melco Resorts & Entertainment Limited (MLCO) stock would likely to be making an EPS of $0.04 in the current quarter, while forecast for next quarter EPS is $0.11 and it is $0.89 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.03 which is $0.11 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.18 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -18.20% while it is estimated to increase by 1025.00% in next year. EPS is likely to grow at an annualized rate of 8.00% for next 5-years, compared to annual growth of -37.40% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Macquarie on July 18, 2023 offering an Outperform rating for the stock and assigned a target price of $16.30 to it.
